I just want to close stuff out. I read a few people on the board and follw them on this occassion. I think if this was really a wave 3 up, then we should have closed at res. I remain open minded, there are rumours of surprise rate cuts coming, in which case i dive in on the long side. until then, the rally feels heavy so i close.
closed all longs
Started by
Tor
, Sep 28 2007 02:55 PM
8 replies to this topic
#1
Tor
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Posted 28 September 2007 - 02:55 PM
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#2
da_cheif
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Posted 28 September 2007 - 03:04 PM
mupt...in a bull market allways conduct a decline on friday....3 days of fear for the price of one.........relax......
#3
Tor
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Posted 28 September 2007 - 03:11 PM
mupt...in a bull market allways conduct a decline on friday....3 days of fear for the price of one.........relax......
Cheif with all respect, you write as if its a matter of certainty. It simply isnt nor ever will be. How can u be so sure. We all know about globalisation, we also know that recessionarty risk is rising. Also the moves in china and emerging markets is already darn right scary. These look like blow offs not initiations.
On this evidence, the trend may turn down, instead of talking wave 3 epicenter moves. That kind of talk, with all respect, was the kind of talk we saw in last 1999, arguably the biggest blow off in market history, in need for some longterm consolidation??
Just some realistic thought, and I dont want to misunderstood that I disagree with you, but just that it is impossible to be so sure and speak in that way IMO.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#4
da_cheif
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Posted 28 September 2007 - 03:45 PM
im an impossible guy.....17 times...impossible....he cheated...lol
like nite follows day.........WATCH THE SKY......
......"darn right scary.".... like i sed.....everybody gets nosebleed .....the fear of heights will be and is indemic.....why do you think only a chosen few make it to the top of everest eh....lolol...certainly not the crowd.......snort
#5
Tor
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Posted 28 September 2007 - 03:52 PM
im an impossible guy.....17 times...impossible....he cheated...lol
like nite follows day.........WATCH THE SKY......
......"darn right scary.".... like i sed.....everybody gets nosebleed .....the fear of heights will be and is indemic.....why do you think only a chosen few make it to the top of everest eh....lolol...certainly not the crowd.......snort
i think your arguement woreks on the basis that money will always go into the market. looks at mortgage withdrawals - people drawing cash out of houses, maybe they take some out of equities. it isnt clear cut.
also this epicenter stuff, much of elliott is an illusion in my view, where people see wave counts to try to make sense of the market, which actually makes little sense and is really just about selecting a timeframe and a set of ma's which to follow etc.
good trading.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#6
Mr Dev
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Posted 28 September 2007 - 05:34 PM
I just want to close stuff out. I read a few people on the board and follw them on this occassion. I think if this was really a wave 3 up, then we should have closed at res. I remain open minded, there are rumours of surprise rate cuts coming, in which case i dive in on the long side. until then, the rally feels heavy so i close.
Tor,
I think you are a very level headed,..and astute trader. As there is always another trading opportunity out their waiting.
Know if you can maintain objectivity through-out your career you will be very successful.
Ignore the other traders that maintain their cocky predictions.
The research shows us, those accounts will often stagnate and stay even or worse dwindle, while yours should
continue to grow.
Even many fund managers fail to beat the market and the funny thing is, most feel that they
are better than the average trader.
Smart traders know that there is nothing wrong with standing aside to avoid taking one on the chin, or worse a knockout.
have a nice weekend
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
Tor
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Posted 28 September 2007 - 06:38 PM
thanks for those kind words Dev and I wish good trading to you and weekend.I just want to close stuff out. I read a few people on the board and follw them on this occassion. I think if this was really a wave 3 up, then we should have closed at res. I remain open minded, there are rumours of surprise rate cuts coming, in which case i dive in on the long side. until then, the rally feels heavy so i close.
Tor,
I think you are a very level headed,..and astute trader. As there is always another trading opportunity out their waiting.
Know if you can maintain objectivity through-out your career you will be very successful.
Ignore the other traders that maintain their cocky predictions.
The research shows us, those accounts will often stagnate and stay even or worse dwindle, while yours should
continue to grow.
Even many fund managers fail to beat the market and the funny thing is, most feel that they
are better than the average trader.
Smart traders know that there is nothing wrong with standing aside to avoid taking one on the chin, or worse a knockout.
have a nice weekend
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#8
normxxx
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Posted 29 September 2007 - 03:18 PM
also this epicenter stuff, much of elliott is an illusion in my view, where people see wave counts to try to make sense of the market, which actually makes little sense and is really just about selecting a timeframe and a set of ma's which to follow etc.
Best academic evidence (which I pay some attention to) is that short term is random, intermediate term shows some evidence of trending (and the "Bell" curve begins to develop "fat tails"— watch for "black swans"), and long term shows strong evidence of trending (the tails get fatter and the black swans more probable— they're quite common in Australia!).
Don't knock Elliot— it's at least as good as the Rorschach test, which many psychoanalysts swear by! (Have you ever tried to use the Rorschach on the stock market?
The content of this message is NOT intended as professional advice. In fact, I am very unprofessional.
#9
da_cheif
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Posted 01 October 2007 - 09:48 AM
also this epicenter stuff, much of elliott is an illusion in my view, where people see wave counts to try to make sense of the market, which actually makes little sense and is really just about selecting a timeframe and a set of ma's which to follow etc.
Best academic evidence (which I pay some attention to) is that short term is random, intermediate term shows some evidence of trending (and the "Bell" curve begins to develop "fat tails"— watch for "black swans"), and long term shows strong evidence of trending (the tails get fatter and the black swans more probable— they're quite common in Australia!).
Don't knock Elliot— it's at least as good as the Rorschach test, which many psychoanalysts swear by! (Have you ever tried to use the Rorschach on the stock market?
>much of elliott is an illusion in my view,<
Farsi is an illusion to a lot of people.. but sum can speek it fluently.
