7 replies to this topic

[denleo]

That was easy and pretty boring. And yes, extremely profitable! I bought and held, I scalped on the up side, I traded swings on the upside, I sold naked puts, I didn't place any stops, I leveraged the hell out of my positions. In other words, I was doing the opposite of "prudent trading" you will read in books. We are approaching time to start trading both ways. No, no bull market tops here. Your two most bullish indicators are Bernanke and Paulson, and these too indicators never fail. But I think we are going to start seeing swings up and down. Swing trading will be the name of the game for me. Denleo

[Tor]

That was easy and pretty boring. And yes, extremely profitable! I bought and held, I scalped on the up side, I traded swings on the upside, I sold naked puts, I didn't place any stops, I leveraged the hell out of my positions. In other words, I was doing the opposite of "prudent trading" you will read in books.

We are approaching time to start trading both ways. No, no bull market tops here. Your two most bullish indicators are Bernanke and Paulson, and these too indicators never fail. But I think we are going to start seeing swings up and down. Swing trading will be the name of the game for me.

Denleo

Well said...I have reduced the gearing now a bit. I am sure glad how I capitulated my bearish view about SPX 1450. A lot of bears didnt and some even probably went bearish today selling the market. It is the proverbial jumping in front of a steam train....wouldnt do it in real life, so why do it in the markets!!!

Good trading to you....Its a party.

[Darris]

Yep, from the low last Thursday to the high tick at the close today, we have rallied 27 pts for the end of the month seasonal SO FAR. All time new closing high on the SPX today, so maybe one more test of ES June contract 1525 and then we will see how the 1540's look like. Good trading.

[Vector]

another cha ching chingy day pinch me I must be dreaming maybe I should get rid of PHM....naaaaw

Edited by Vector, 30 May 2007 - 06:50 PM.

[Sentient Being]

another cha ching chingy day

pinch me I must be dreaming



maybe I should get rid of PHM....naaaaw

You are still bullish? I was wondering. You were talking third wave up so I guess if nothing else, that means when we do correct you are still expecting that wave five.

[denleo]

I am bullish most of the time. Why? Look at the chart of any index over the last 200 years. I am bearish only before corrections. To tell you the truth, I have no clue about wave theories. The reason is: I have never seen a hedge fund manager get an allocation from a pention fund or an off shore trust fund based on waves. Never happened, and never will. Keep it simple -- buy any decline. Keep it even more simple -- buy any time. NEVER EVER SHORT S&P 500 FOR MORE then SEVERAL MINUTES OR HOURS. Denleo

[Vector]

NYSE is up 25% (practically straight up non-stop) since the Summer of 2006 when the sentiment was so bearish you could cut it with a knife. Amazing! What I find even more amazing is the COT (stoch) is situated right now where it usually is at major bottoms. WOW!

Edited by Vector, 31 May 2007 - 01:35 PM.

[Sentient Being]

I was actually trying to get Vector on that one. Wondering where he thought this was in the grand scheme of things.

another cha ching chingy day

pinch me I must be dreaming



maybe I should get rid of PHM....naaaaw

You are still bullish? I was wondering. You were talking third wave up so I guess if nothing else, that means when we do correct you are still expecting that wave five.