Are we going to take out last year's low and have a delayed 4 yr cycle this year instead of last year similar to 1987?
long spooz @ 1390
Started by
A-ha
, Aug 16 2007 10:42 AM
14 replies to this topic
#12
rkd80
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Posted 16 August 2007 - 11:45 AM
you called the climax bottom perfectly yesterday, i cant believe you went long so early in the day though. cant wrap my mind around that move - you are ballsy, ill give you that.
“be right and sit tight”
#13
A-ha
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Posted 16 August 2007 - 11:49 AM
you called the climax bottom perfectly yesterday, i cant believe you went long so early in the day though. cant wrap my mind around that move - you are ballsy, ill give you that.
being 10-20 points early is a pocket change... after taking 110 points profit
#14
NAV
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Posted 16 August 2007 - 11:55 AM
you called the climax bottom perfectly yesterday, i cant believe you went long so early in the day though. cant wrap my mind around that move - you are ballsy, ill give you that.
rkd,
It's not about how balsy someone is. It's a question of risk control. During a climactic phase a bottom comes whenever the selling exhausts and there's no way to know that even for the floor traders. Cuz there's gonna be waves and waves of selling. Just when you think it's done, you could be hit with another one.
The real question is - How much of a drawdown are you are willing to endure?. How wide a stop does your system allow ? What kind of position size is it ? How much of stomach you have when the market keeps going against you ? What if it turns into a mini-crash ? .......
#15
arbman
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Posted 16 August 2007 - 12:05 PM
It was a compliment, but we are still bottom picking and it is still declining...
Only if you think the next rally will be 110 points up, otherwise you would be leaving too much on the table. I personally think that the upside is limited to 1460 initially and then 1500 at the moment (for several weeks)...
being 10-20 points early is a pocket change... after taking 110 points profit
Only if you think the next rally will be 110 points up, otherwise you would be leaving too much on the table. I personally think that the upside is limited to 1460 initially and then 1500 at the moment (for several weeks)...
