41 replies to this topic

[traderpaul]

Why indeed?
Why not go long?
Because: We already made a low after a long steep selloff, therefore the price has already discounted the news.
Because: Well, we just made a nice low with heavy negative media hype, leaped up nicely, and have retraced about half, as good a place as any to go long.
Because: Going long right now is only some 30 points above the swing low, but 330 points below the swing high, much more able to place a smart stop.
Because: Absolutely no one around here rang a bell at the exact top, and no one here will scream a major buy at the exact bottom.
Because: Picking is better than waiting sometimes, because the bus can leave very quickly without you on board.
And most importantly, as Flip Wilson said, if it feels good then do it. Join the Church of Whats Happening Now.

i pounded on the table day after day right at the top......

[mogreen]

as Rodney King(Los Angeles circa 1990?)said..."can we just get a-long".

[arbman]

Because: Absolutely no one around here rang a bell at the exact top, and no one here will scream a major buy at the exact bottom.

I posted my trade and much much more...

What we have been underestimating to this far actually is the extent of this decline, it's been a devastating wave-C and it is not over...

[eminimee]

http://www.traders-t...mp;#entry368595

[eminimee]

new targets for top of B...oex 615...spx 1330

[eminimee]

http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=2&mn=8&dy=0&i=p08050564210&a=104688425&r=8650.png

[traderpaul]

The top blue line was drawn correctly.....The bottom blue line was not.....Should be a line connecting 2007 Aug low, 2008 Jan low, March and July low. The more lows you connect, the more valid the line.

[norton]

Excuse me, but no you cannot take any credit at all, period, for now saying that you screamed real time a short sale at 1575 ES. Posting a chart showing a downward bias AFTER the price had already declines hardly qualifies as calling and selling short the exact top. No way Jose. I do not mean this to anyone personally, I went back, no one posted real time short sale at the top, not after the fact.

[eminimee]

I can't stand the [bleeeep] here anymore...I'm out of here for good. As for Traderpaul pounding the table at the top!!....He's pounded the table at 15 out of the last 3 tops...

[norton]

I can't stand the [bleeeep] here anymore...I'm out of here for good. As for Traderpaul pounding the table at the top!!....He's pounded the table at 15 out of the last 3 tops...

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I can't either. I will join you in abstencia, it's not worth it. This is all your fault for drawing me out of my cave.
It is time to be long right in here, ES at 1234 in night session and some more in here. Bears are full of beans and tacos.