17 replies to this topic

[OEXCHAOS]

What I worry about is I am the proverbial Joe six pack who should be faded?

Joe 6P doesn't have enough money to be taken away as others seem to.

As I view it, there are two other sectors. Joe is pretty well measured by AAII. The other sectors are the smaller speculators and also the smaller, newer, directional hedge funds.

A small hedge fund, heavily leveraged, probably moves more stock around or deriviatives controlling more stock around than a large mutual fund. So, if you can get these guys or the smaller speculators leaning enough, they've got a significant chunk of change to take.

Mark

[SemiBizz]

"trading". The only thing that can get you in trouble as a trader is not having a stop set, then you become an "investor". The problem is when you have religion about your position, and can't be wrong. I find it helps to keep a balanced view, the bullish aspects and bearish aspects. If all you can see is the market going up or going down per your embedded position, you're not being honest with yourself. A skillful trader can make money on either side of the trade and without regard to whether it's a bull or bear market... And the last thing I worry about is sentiment. useless.

[OEXCHAOS]

Semi, you're just plain dead wrong. And you should know better by now. Just because you haven't gotten your brain around how to use sentiment doesn't mean that others haven't. SENTIMENT told you that the break last summer was only a correction and nailed the lows in jun and jul. Sentiment told us that the February highs were likely to be seen again, despite the ugly decline. Volume has saved and made me some money, but context is important. M

[SemiBizz]

I haven't gotten my brain around it because it's a very digital technology and a poor use of my time. It's either UP or DOWN, and that's really not much information returned for all the effort... Sentiment does not help you pick stocks, Sentiment does not generate price targets, entries and exits. I think sentiment is great for Investors (Read BAGHOLDERS), who are trying to decide whether or not to add to or sell their embedded positiions.... but it does very little for traders. I"m listening, you tell me how sentiment helps you select a position, derive entries and exits... Not just WHEN to buy, but what sector, which stock, what price? Good traders can make money with long plays when the broad market is down and short plays when the overall market is up. If nailing the highs and lows of the DJIA and Nasdaq is your game, that's fine, that does not interest me. I'm not here to be right (even though I am a good percentage of the time) that is not what trading is about..., I am in the game to mine cash out of the market...

[OEXCHAOS]

How about just not being Bearish or short ANYTHING when the market is about to take off like a scalded dawg.

[SemiBizz]

How about just not being Bearish or short ANYTHING when the market is about to take off like a scalded dawg.

BORING.



Come on TARGETS.... WHEN, WHAT PRICE? ENTRIES? EXITS? SUPPORT, RESISTANCE?

[SemiBizz]

What you have to wait til the end of the day to decide if the market is going up or down? How about intraday? What do you do then? Stop and take a poll? My stuff gives me an instant readout. This is a real vote.... $$$$ talking vs BS walking at the end of the day. And "taking off like a scalded dawg" is not a price target.

[OEXCHAOS]

Price targets are worthless or worse. Up or Down is a major help. Up a lot is a huge help. And all day long you get sentiment inputs, if you want them. They, like intra-day volume have differing utilities. The contest of the larger scale, however, is important. Last summer, those with targets would have been dumping in August, I suspect. Maybe shorting. Those using sentiment knew that it was heading much, much higher. Who needs targets then. Just buy it off a chart or a trendline. Ignore the short set ups and buy the long set ups only. M