Don't let the outrage affect you

Been there, done that. It's very costly. Yes, our financial system is a mess. It's horribly corrupt. There's blatant manipulation going on. But hell, it's still the safest casino in the world, where you don't get thrown out for making money, where the odds are clearly in your favor, if you have a open and clear mind. Does all these things going on around us outrage me ? YES. But i tend to build a zen-like cocoon around me filtering all the crap and focus just on trading. Was yesterday rally a product of the ban on short selling ? I woudn't buy that at all. The market was in a climactic phase and it needed an excuse to reverse. Well, isn't there always some reason for the market to reverse out these climaxes. We have been having interventions all over the last week. But why did the market reverse yesterday ? Well as long as the market was going down, the bear thesis was that all these interventions were ineffective and the govt/fed/treas was pushing on a string. Now that the market rallies, the string has suddenly transformed into a ramrod ! I posted on my blog that the Time, Price and Pattern were ripe for a bottom. I am not saying all this in hindsight. I said three days before on my blog that the next 2 days will be climax selling in my "9 month cycle update". Yesterday, i said we were in the ballpark of a bottom, when i bought 1150. Now feel free to disagree with me. You can find thousands of reasons as to why this market bottom is not real. I have two reasons - 9 month cycle and Sentiment. Right or wrong, i beleive the bottom is in. We should run toward SPX 1250 in the next couple of days before a 50-80 point reaction occurs. If that reaction holds above today's lows and turns up, then the IT and LT bottom is in. A huge bear market rally has begun, which should last 6-8 months - IMVHO. P.S - If you are really outraged by all this, there's a better outlet than shorting this market. Go long China. That's what i did a couple of days back, by buying FXI. That's my investment position.

Edited by NAV, 19 September 2008 - 02:59 AM.

We're like 10 points from SPX 1250 as of now. You still expecting 80-90 point reaction? If it tags it tomorrow do you think it'll trigger it?

i am newly long MCIO...buying dips to .50 to .60 let's see who holds onto our "investment" the longest and with good profits. only reason I mention it is: MCIO is one of the most unknown names and in the avoided penny stock category vs. FXI which most have heard of. not a contest, but something to be curious about which returns the most 12-month profit by next year assuming investment this week.

Edited by hiker, 19 September 2008 - 03:07 AM.

i am newly long MCIO...buying dips to .50 to .60

let's see who holds onto our "investment" the longest and with good profits.

only reason I mention it is:

MCIO is one of the most unknown names and in the avoided penny stock category

vs. FXI which most have heard of.

not a contest, but something to be curious about which returns the most 12-month profit by next year assuming investment this week.

Hiker,

Please do not involve me in any of the contests. To be clear, my investment is in my retirement account, not my trading account. I don't want to be sweeping floors in Walmart when i retire, by investing my retirement money in penny stocks. I never trade in penny stocks. PERIOD ! I would not recomment them to anyone in my lifetime. If one has some discretionary gambling money, yes they could take risk trying to mutiply is fast. It's an obvious fact that a penny stock will outperform the stock indices or sectors - no question about it. So let me tell you. You have won this game even before it has begun.

We're like 10 points from SPX 1250 as of now. You still expecting 80-90 point reaction? If it tags it tomorrow do you think it'll trigger it?

SPX 1250-60 cash is a brickwall !. It's a no brainer short, as soons the 30-min turns down from there. After a 120 point run, 50-60 point reaction is common.

There's nothing 'common' about this market. Though I've had a winning week, this was one of the hardest markets to trade in a loooooong time. In fact, going to take my winnings and take a few days off. The interested parties can beat each other over with a club til they're bloodied. I like a market that makes sense to me. Large firm failures, government interventions, OPEX, etc.. dang. Just say NO.

NAV, I understand more clearly now you have pre-defined limits to your curiosity. which is sort of interesting when you remind us to be curious about why investing in FXI may make sense. to each his own. I will try never to bring you any idea. You have enough of your own. and for the record, to my knowledge the only other penny stock I have brought to the attention of this board since 2002 was XSNX.ob at about .70 cents which then more than 4X in a short period. I also take this penny stock category with care and realize it is lose-it-all type capital the only reason I mention MCIO now is because a catalyst is currently being worked which will be released at an unknown date in the future

Edited by hiker, 19 September 2008 - 03:53 AM.

Hiker, how far into the future will that catalyst be ? any guess ? A month an year ? It looks extremely illiquid.

Edited by ogm, 19 September 2008 - 04:13 AM.

good morning, ogm. I will email you the link where Jea Yu, who wrote the TA book SECRETS OF THE UNDERGROUND TRADER where he has assembled his research on this company since it was first introduced to the institutional community let me know if your email address has changed from where we conversed early this year, and look for smilinghiker in your spam folder maybe..will send it shortly off line is best for this sort of energy going on at TT right now. thanks for asking, man. I have sure learned a lot from you.

NAV,

I understand more clearly now you have pre-defined limits to your curiosity.

which is sort of interesting when you remind us to be curious about why investing in FXI may make sense.

to each his own.

I will try never to bring you any idea. You have enough of your own.

and for the record, to my knowledge the only other penny stock I have brought to the attention of this board since 2002 was XSNX.ob at about .70 cents which then more than 4X in a short period.

I also take this penny stock category with care and realize it is lose-it-all type capital

the only reason I mention MCIO now is because a catalyst is currently being worked which will be released at an unknown date in the future

Hiker,

It's not about curiosity. It's the difference between gambling ang investing. I don't consider dabbling in penny stocks as investing, by any stretch. It's pure gambling. I have always considered these penny stocks a dark shady world. I would not touch them with a 10 foot pole, no matter what their potential is. BTW, i am a bad stock picker and bad individual stock trader, let alone trade penny stocks. I stick to indices and sectors, which is where my strength is. BTW, you were not bringing it to my attention. You were trying to compare the potential future returns of an investment vs gambling instrument. That is what i took objection to. Again, as you said, to each his own - precisely !