14 replies to this topic

[QID_trader]

Hello, I am new to this board. I am a bit of a novice at trading, but have been doing very well lately playing the short side with the bear ETF's like QID, I was in QID on 2/27 and made a bundle! I am sure there is no way this market can rally much more with so many fundamental negatives for the US economy. This is a low volume rally IMHO and I will be agressively buying QID into any gap open higher Monday. If it gaps up it will be gap and crap for sure. Easy money. -Greg

[QID_trader]

I am reading lots of bad news so maybe will gap down instead. Either way given the negative tone the market to remain under pressure IMHO

http://www.marketwat.....CC7F02E25932}

http://www.marketwat.....97C1BF952242}

Comments Welcome.

-Greg

[scott in Wisconsin]

Hello,

I am new to this board. I am a bit of a novice at trading, but have been doing very well lately playing the short side with the bear ETF's like QID, I was in QID on 2/27 and made a bundle!

I am sure there is no way this market can rally much more with so many fundamental negatives for the US economy. This is a low volume rally IMHO and I will be agressively buying QID into any gap open higher Monday. If it gaps up it will be gap and crap for sure.

Easy money.

-Greg

Welcome aboard, and No offense intended, but when I see anyone THAT certain, I start thinking about fading their post. There is rarely any easy money in the market.
Thanks for posting, hope you'll stay and share your thoughts. There's lots to learn here for all of us.

Scott

[QID_trader]

Hello,

I am new to this board. I am a bit of a novice at trading, but have been doing very well lately playing the short side with the bear ETF's like QID, I was in QID on 2/27 and made a bundle!

I am sure there is no way this market can rally much more with so many fundamental negatives for the US economy. This is a low volume rally IMHO and I will be agressively buying QID into any gap open higher Monday. If it gaps up it will be gap and crap for sure.

Easy money.

-Greg

Welcome aboard, and No offense intended, but when I see anyone THAT certain, I start thinking about fading their post. There is rarely any easy money in the market.
Thanks for posting, hope you'll stay and share your thoughts. There's lots to learn here for all of us.

Scott

Hello Scott,

No offence taken. I am very confident in this trade becuz it is one that I do it all the time and has been profitable every time for. Selling gap open higher on Monday is like taking candy from a baby so far.

I will do it again this Monday.

-Greg

[Caduceus]

It appears to me we would have an island reversal on QQQQ as well as what looks like a cup and handle forming the island.

Be carefull....

Hopefully this chart link will work.

http://stockcharts.c...amp;a=103054549

[QID_trader]

It appears to me we would have an island reversal on QQQQ as well as what looks like a cup and handle forming the island.

Be carefull....

Hopefully this chart link will work.

http://stockcharts.c...amp;a=103054549

Chart patterns is like Rohrshak test. Where u see a bullish pattern I see a typical garden variety 'B' wave corrective bounce within a strong downtrend.

I ask u what could possible be the catalist for a lasting rally now?

Earnings have peaked and are collapsiing, Fed is not going to cut becuz we have stagflation. Subprimes problem is spreading. The US consumer is tapped out with a ballooning mountain of debt. Stock are very overvalued and investors are way too complasent. This market is an accident waiting to happen for sure.

IMHO the risks of being long and getting blindsided by a downside crash that could happen any day without warning are far greater than the risk of being in QID and having to endure a few days of slow upward grind of low volume suckers rally. i can handle a temporary drawdown, risk of a runaway bull is nil right now IMHO.



-Greg

[raleigh]

"what everybody knows is worthless"

[Caduceus]

It appears to me we would have an island reversal on QQQQ as well as what looks like a cup and handle forming the island.

Be carefull....

Hopefully this chart link will work.

http://stockcharts.c...amp;a=103054549

Chart patterns is like Rohrshak test. Where u see a bullish pattern I see a typical garden variety 'B' wave corrective bounce within a strong downtrend.

I ask u what could possible be the catalist for a lasting rally now?

Earnings have peaked and are collapsiing, Fed is not going to cut becuz we have stagflation. Subprimes problem is spreading. The US consumer is tapped out with a ballooning mountain of debt. Stock are very overvalued and investors are way too complasent. This market is an accident waiting to happen for sure.

IMHO the risks of being long and getting blindsided by a downside crash that could happen any day without warning are far greater than the risk of being in QID and having to endure a few days of slow upward grind of low volume suckers rally. i can handle a temporary drawdown, risk of a runaway bull is nil right now IMHO.



-Greg

First of all I agree for the most part with your opinions of the fundamentals (longer term). However, I strive to be neutral and unbiased as much as possible if I am TRADING. For instance, the last time I posted on this board was March 18th you can read it hear: http://www.traders-t...?...c=67981&hl=
I was having a little fun with the consensus "funnymentals" making very similar points but in the context of fading the consensus concerns. The correction was "textbook" through my eyes. Now, the AdvanceDecline line is moving further into new high territory and volume is leading breadth which is leading price. All the while the wall of worry is firmly entrenched.

If we gap higher and fail you could have a great trade ST. Personally I would wait for the failure to short (if I was looking to short). Although I am not sure what your intended timeframe for the trade is.

In any case welcome to the board. Please don't take any of this personally.

[Mtrader]

If it is that easy, well every joe will be rich. But who knows. First get rich then write a book and get richer.

[QID_trader]

It appears to me we would have an island reversal on QQQQ as well as what looks like a cup and handle forming the island.

Be carefull....

Hopefully this chart link will work.

http://stockcharts.c...amp;a=103054549

Chart patterns is like Rohrshak test. Where u see a bullish pattern I see a typical garden variety 'B' wave corrective bounce within a strong downtrend.

I ask u what could possible be the catalist for a lasting rally now?

Earnings have peaked and are collapsiing, Fed is not going to cut becuz we have stagflation. Subprimes problem is spreading. The US consumer is tapped out with a ballooning mountain of debt. Stock are very overvalued and investors are way too complasent. This market is an accident waiting to happen for sure.

IMHO the risks of being long and getting blindsided by a downside crash that could happen any day without warning are far greater than the risk of being in QID and having to endure a few days of slow upward grind of low volume suckers rally. i can handle a temporary drawdown, risk of a runaway bull is nil right now IMHO.



-Greg

First of all I agree for the most part with your opinions of the fundamentals (longer term). However, I strive to be neutral and unbiased as much as possible if I am TRADING. For instance, the last time I posted on this board was March 18th you can read it hear: http://www.traders-t...?...c=67981&hl=
I was having a little fun with the consensus "funnymentals" making very similar points but in the context of fading the consensus concerns. The correction was "textbook" through my eyes. Now, the AdvanceDecline line is moving further into new high territory and volume is leading breadth which is leading price. All the while the wall of worry is firmly entrenched.

If we gap higher and fail you could have a great trade ST. Personally I would wait for the failure to short (if I was looking to short). Although I am not sure what your intended timeframe for the trade is.

In any case welcome to the board. Please don't take any of this personally.

Thak you for your ideas. I enjoy to debate the markets becuz I am a very strong opinioned person. Nothing is taken personal for me.

My timeframe for this trade is initially short-term but if it starts to crash this week like i am thinking it should then i will hold on and just ride the waterfall down

i still think market is a house of cards so as a trader i will favor the short side.