18 replies to this topic

[NAV]

Are you guys still long and strong and sitting tight? Have you been stopped out ? Are you adding to your existing positions ? The reason i am asking this is not to mock at anyone. But it becomes awfully quiet when this kind of a scary correction comes. When the market reaches new highs, we start seeing posts like "Ain't sold a dime yet" and other in-the-face remarks towards bears. What better point than now to understand what you guys are doing, so that we all can learn how you handle this kind of drawdowns and what your strategy at this point is ? I am sure anyone holding real money long positions will have some self-doubts at this point. Now here's your chance to come forward and explain your strategy.

Edited by NAV, 27 July 2007 - 07:59 AM.

[Tor]

Are you guys still long and strong and sitting tight?
Have you been stopped out ?
Are you adding to your existing positions ?

The reason i am asking this is not to mock at anyone. But it becomes awfully quiet when this kind of a scary correction comes. When the market reaches new highs, we start seeing posts like "Ain't sold a dime yet" and other in-the-face remarks towards bears. What better point than now to understand what you guys are doing, so that we all can learn how you handle this kind of drawdowns and what your strategy at this point is ? I am sure anyone holding real money long positions will have some self-doubts at this point. Now here's your chance to come forward and explain your strategy.

FLAT. Looking for a good entry point, maybe not there yet.

I see a min upside of 10% from these levels now.

[NAV]

Are you guys still long and strong and sitting tight?
Have you been stopped out ?
Are you adding to your existing positions ?

The reason i am asking this is not to mock at anyone. But it becomes awfully quiet when this kind of a scary correction comes. When the market reaches new highs, we start seeing posts like "Ain't sold a dime yet" and other in-the-face remarks towards bears. What better point than now to understand what you guys are doing, so that we all can learn how you handle this kind of drawdowns and what your strategy at this point is ? I am sure anyone holding real money long positions will have some self-doubts at this point. Now here's your chance to come forward and explain your strategy.

FLAT. Looking for a good entry point, maybe not there yet.

I see a min upside of 10% from these levels now.

Tor,

I used the wrong word. I was talking about long term traders, not long term bulls. I am a long term bull myself, but a ST trader.

Edited by NAV, 27 July 2007 - 08:15 AM.

[Vector]

I just added yesterday 50% of new pension rollover $ I received two months ago (I've been waiting patiently since then for this shake-out since it was just too risky to commit new funds in the last 2-3 months)

last time this went this low was July 2002

http://stockcharts.com/h-sc/ui?s=$NYH...id=p68926463211

Now's not the time to get caught up in the news noise media fear mongering hype.

The word "overdone" somehow comes to mind.

P.S. I'm not making the common mistake of trying to precisely pick the bottom here. So expect some more downward chop b4 all is said and done.

Edited by Vector, 27 July 2007 - 08:19 AM.

[Venatici]

Are you guys still long and strong and sitting tight?
Have you been stopped out ?
Are you adding to your existing positions ?

The reason i am asking this is not to mock at anyone. But it becomes awfully quiet when this kind of a scary correction comes. When the market reaches new highs, we start seeing posts like "Ain't sold a dime yet" and other in-the-face remarks towards bears. What better point than now to understand what you guys are doing, so that we all can learn how you handle this kind of drawdowns and what your strategy at this point is ? I am sure anyone holding real money long positions will have some self-doubts at this point. Now here's your chance to come forward and explain your strategy.

Hi,

Open severall positions short and long since yesterday, some plays with GBP too. But at the moment only hold these:
Short AAL.L from 2820
Short FTSE from 6244

I use CFD just like Tor

Good trading.

[esther231]

I have a long term account that gets long and stays long till I get a bear signal. So, I'll give a ton back when it hits. I already know that. The long term accounts are made up of IRAs and 401Ks and I add to them monthly and buy monthly - no matter what the market is doing. I own mutual funds in them. Rarely do I even shift that money around to others funds. Maybe once a year. Often longer. My active trading is short term and I care desperately in that account about timing entry and exit.

[Woody]

Nav, a great question, never hurts to step back and look at the longer term stuff.

I'm attaching a chart of the SnP that uses a 13/39(weekly) ema crossover system.....it has stayed long since the bull started and is not close to a sell here......although you could argue that the 13/39 spread got a bit extended (see MACD on Chart) May not work as well for non-trending, choppy markets but you get the idea

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=5&mn=6&dy=0&i=p64025792415&a=113039377&r=3603.png

Edited by Woody, 27 July 2007 - 08:41 AM.

[Cirrus]

With the current global monetary system everyone has to be a very LT bull. That is unless you believe the Central Banks have the cajones to call in this leverage a create a global depression...or at least a US depression.

[NAV]

With the current global monetary system everyone has to be a very LT bull. That is unless you believe the Central Banks have the cajones to call in this leverage a create a global depression...or at least a US depression.

If there are any depression candidates IMO, it's not U.S, but China, India and Brazil.

[Venatici]

Are you guys still long and strong and sitting tight?
Have you been stopped out ?
Are you adding to your existing positions ?

The reason i am asking this is not to mock at anyone. But it becomes awfully quiet when this kind of a scary correction comes. When the market reaches new highs, we start seeing posts like "Ain't sold a dime yet" and other in-the-face remarks towards bears. What better point than now to understand what you guys are doing, so that we all can learn how you handle this kind of drawdowns and what your strategy at this point is ? I am sure anyone holding real money long positions will have some self-doubts at this point. Now here's your chance to come forward and explain your strategy.

Hi,

Open severall positions short and long since yesterday, some plays with GBP too. But at the moment only hold these:
Short AAL.L from 2820
Short FTSE from 6244

I use CFD just like Tor

Good trading.

Closed AAL.L 2757

BTW, I use MA crossover and some filtering with MACD and RSI, although only lately and with decent results.