Edited by IYB, 27 July 2007 - 04:31 PM.
At the Risk of Sounding Overly Simplistic
#1
Posted 27 July 2007 - 04:23 PM
#2
Posted 27 July 2007 - 05:18 PM
#3
Posted 27 July 2007 - 05:31 PM
#4
Posted 27 July 2007 - 05:59 PM
In order for people like me to enjoy the mind-bogglingly low commission rates that IB charges, it is necessary for traders like those who dominate this board to manically zip in and out of the market on every signal they can find. This is a good a thing, and I encourage it. I also encourage folks to carry large balances on their credit cards, to HELOC any real estate they may own, and to generate as much fee and interest income as possible for the beleaguered institutions in the financial sector. The longer you keep thrashing around, the longer I get to ride for free. TIA.
I second that !!!
It's the illiquidity, stupid !
#5
Posted 27 July 2007 - 06:50 PM
Words to be repeated soon............
http://www.traders-t...?...ic=17842=
How soon?...
http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=3&mn=0&dy=0&i=p04284989691&r=2505.png
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#6
Posted 27 July 2007 - 06:59 PM
#7
Posted 27 July 2007 - 07:12 PM
I think I've worn it out.....oex 672...probably Monday.
If the dow cracks the current support there is no support for another 500 points.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#8
Posted 27 July 2007 - 07:59 PM
Edited by thespookyone, 27 July 2007 - 08:03 PM.
#9
Posted 28 July 2007 - 12:29 AM
I'll leave day trading, counter-trend trading, bounces, projections, counts and the rest to others. Based on momentum, trend is down and the trade is short. Good Weekend, D
IYB,
I presume you are talking about the daily trend. A higher order timeframe (weekly or monthly) trader can make a equally compelling statement like "I will leave the hourly, daily, declines, corrections to others. But the trend is up on the weekly and monthly. The trade is long". Speaking of the daily/hourly trend, it's a no brainer that the trend is down. My respect is to you folks who can sit tight and ride the trend. Good trading !
In order for people like me to enjoy the mind-bogglingly low commission rates that IB charges, it is necessary for traders like those who dominate this board to manically zip in and out of the market on every signal they can find. This is a good a thing, and I encourage it. I also encourage folks to carry large balances on their credit cards, to HELOC any real estate they may own, and to generate as much fee and interest income as possible for the beleaguered institutions in the financial sector. The longer you keep thrashing around, the longer I get to ride for free. TIA.
Don't try it at home. It's not for everyone !
On second thought, why does low commision matter to you, when you don't manically zip in and out ?
Edited by NAV, 28 July 2007 - 12:31 AM.
#10
Posted 28 July 2007 - 01:24 PM
Actually, my main point was and is that the downtrend is solid and intact- and that for now there are no signs, early or otherwise, of that trend reversing any time soon-----normal countertrend moves notwithstanding, of course.Words to be repeated soon............
http://www.traders-t...?...ic=17842=
And my secondary point was that for me- simplicity is best....others should continue to do what they do best. D
Edited by IYB, 28 July 2007 - 01:28 PM.