For those who like absolutes! and were trading in the 90's

As a young broker with Merrill I was out to prove my worth and was going to crush the mkt with my omniscient new knowledge having read Steve Nison Candlestick Charting. I was was the first guy in the office at the age of 24 to actually have his own computer with Charting..mind you this is Bevery HIlls and i am years ahead of these seasoned no nothing long termers i am absolutely amazed how day in and day out people fail to realize the strength of this trend and come up with a "new" ground breaking discovery of how today was the top! Man, the pain that i remember in trying to short the biotechs back then...names like LIposome Somatagen, Imune response.cytogen, .....i was shorting doji, shooting stars, hanging men...i was talking the talk and walking the walk.....i was destroying myself and my clients but man could i talk up a game when people asked me what i thought about the mkt If i would have realized then what i realized now, that being that i have no more of a competitive edge on information then the average guy. All I can do is identify the trend and stay with it untill the mkt proves otherwise i would have made alot of money alot earlier in my career. More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies! But the Free Market did that for me by killing my account and reminding me that my opinion means nothing that the trend is everything and all i have to do is ride it. Holy crap after just posting this i saw the equity put call at .32 that a new 50 year record...disregard everything i just said.......SHORTTTTTTT!!!!!!

Edited by atlasshrugged, 14 April 2010 - 06:03 PM.

New moon = emotional blow off, I think I am onto something!

I would not sell it short though, it will not just shoot down 30 points, it will take 1-2 days further to show its hand that perhaps this last one is actually running on empty and it won't pay everyone who bought those calls. Friday morning is the index expiration for the boyz, the afternoon is the retail slaughter I am afraid!

New moon = emotional blow off, I think I am onto something!

I would not sell it short though, it will not just shoot down 30 points, it will take 1-2 days further to show its hand that perhaps this last one is actually running on empty and it won't pay everyone who bought those calls. Friday morning is the index expiration for the boyz, the afternoon is the retail slaughter I am afraid!

ideally ARBAN i would love a spike with no pull backs at all on HUGE VOLUME like today where the naz comp fills its gap only 70 more points ( google) and the spx goes up in the 1250 area..

i may not stay married to the advance decline divergence thesis that we have been pontificating ...there r some really callow traders that have finally caught on to it and in a blow off move things change

price is king

it is getting exciting.....the dumb money is coming in today...the same dumb money that sold on march 2009

More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies!

I, for one, am truly sorry I could not have been there for you.

As a young broker with Merrill I was out to prove my worth and was going to crush the mkt with my omniscient new knowledge having read Steve Nison Candlestick Charting.
I was was the first guy in the office at the age of 24 to actually have his own computer with Charting..mind you this is Bevery HIlls and i am years ahead of these seasoned no nothing
long termers


i am absolutely amazed how day in and day out people fail to realize the strength of this trend and come up with a "new" ground breaking discovery of how today was the top!

Man, the pain that i remember in trying to short the biotechs back then...names like LIposome Somatagen, Imune response.cytogen, .....i was shorting doji, shooting stars, hanging men...i was talking the talk and walking the walk.....i was destroying myself and my clients but man could i talk up a game when people asked me what i thought about the mkt

If i would have realized then what i realized now, that being that i have no more of a competitive edge on information then the average guy. All I can do is identify the trend and stay with it untill the mkt
proves otherwise i would have made alot of money alot earlier in my career.




More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies!

But the Free Market did that for me by killing my account and reminding me that my opinion means nothing that the trend is everything and all i have to do is ride it.



Holy crap after just posting this i saw the equity put call at .32 that a new 50 year record...disregard everything i just said.......SHORTTTTTTT!!!!!!

Atlas...Great rant.....I'm lovin it!!. A full frontal attack!

FREE MONEY FOR EVERYONE!

http://stockcharts.com/c-sc/sc?s=$ONE:$CPCE&p=D&yr=3&mn=0&dy=0&i=t39043721450&r=5180.png

More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies!

I, for one, am truly sorry I could not have been there for you.

I would have been happy to at least hold you down while Mili slapped you silly.

But seriously, while I agree 1000% with your general thesis here - that the trend is the whole ballgame and the rest is just delusion, superstition and fantasy, I'd also hasten to add that ..........when you think you have it all figured out -- that's exactly the time to be extra careful because that's exactly when something is about to change - suddenly and unexpedly, and bite you in the hiney if you let your guard down even for a second. Just watch yer back, my friend, and continued success! D

More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies!

I, for one, am truly sorry I could not have been there for you.

I would have been happy to at least hold you down while Mili slapped you silly.

But seriously, while I agree 1000% with your general thesis here - that the trend is the whole ballgame and the rest is just delusion, superstition and fantasy, I'd also hasten to add that ..........when you think you have it all figured out -- that's exactly the time to be extra careful because that's exactly when something is about to change - suddenly and unexpedly, and bite you in the hiney if you let your guard down even for a second. Just watch yer back, my friend, and continued success! D

exactly don oh!!! thats why i mentioned that i wont stay married to the ad divergence theme for a top if prices tell me something different...we will cross that bridge when we get to it!

thanks Milli...i wear the scarlet letter...on my forehead......DFTT...dont fight the trend

its going to start getting exciting again

Edited by atlasshrugged, 14 April 2010 - 07:30 PM.

More importantly I wish I would have had somebody who would have SLUGGED ME IN MY MOUTH and told me how to keep it simple and stop with the impressive sophmoric epiphanies!

I, for one, am truly sorry I could not have been there for you.

I would have been happy to at least hold you down while Mili slapped you silly.

But seriously, while I agree 1000% with your general thesis here - that the trend is the whole ballgame and the rest is just delusion, superstition and fantasy, I'd also hasten to add that ..........when you think you have it all figured out -- that's exactly the time to be extra careful because that's exactly when something is about to change - suddenly and unexpedly, and bite you in the hiney if you let your guard down even for a second. Just watch yer back, my friend, and continued success! D

jeez dont you hate that, u get so happy when ur trading amazing u think ur on top of the world and bam the market bites u in the {bleeeep}.

Atlas nice comment on trend, and yes it is mildy funny when someone posts that today is the top almost once a week on this site for the past year. Everyone loves pickn a top but it takes a beating on the account and the opportunity costs of picking a top and missing a rally can be even worse than the actual losses from trying to do so.

New moon = emotional blow off, I think I am onto something!

I would not sell it short though, it will not just shoot down 30 points, it will take 1-2 days further to show its hand that perhaps this last one is actually running on empty and it won't pay everyone who bought those calls. Friday morning is the index expiration for the boyz, the afternoon is the retail slaughter I am afraid!

And if it was the market makers that bought the calls after everyone who owned anything sold calls against it?