Hi Parker, I am sorry Attilla came out with that statement. He has made some bad calls in the past, where a lot of people lost big money. Example, the lows 2009 he advised his clients to stay short or sit on the side lines as the market was heading up. Please note this was from another member from this site that stated this.
The best we can do, is swing trade from the summer highs to the resents lows from Attila statement.
As for myself, I will stay flexible and nimble trading the stock market. Although I am % 100 short here, I will be off loading most of my shorts here shortly. Looking for a counter trend for a few days. Than short again.
Bottom line is, be your own guru. NEVER Make a Trade with out going within to see if it FEELS RIGHT. Gut instincts.
Attilla wrote:
ECB engaged in a massive quantitative easing, which is why the rating agencies accelerated the pace of downgrades; to reduce the cost.
this may slow down the momentum of the bear market by extending the broadening top into late 2012
Start of Mercury Retrograde and a solar eclipse today……..We have room for one more ugly downday unless it’s a crash situation, then 2 days but I don’t think it will be the crash but a mini meltdown nonetheless. The stock indices are mimicking early August’s actions and the declines should really accelerate now since the Dow and Russell 2000 have penetrated the support at the mid October lows. But there really is only room for one more big decline day before a bounce……….
Think of this decline comparable to the May to mid July 2008 decline….
A certain little indicator is still a few weeks to a week 1/2 away from entering the crash zone at this pace but its internal component is reaching historic oversold levels.
Good move Nuggy picking up some shorts near the top. I personally will be letting go of some of my shorts Monday morning, hope fully with a gap down. I hate going into a weekend being fully short. As you said, you have to watch out for that train. As for me, if I see light at the end of the tunnel, I will be exiting very quickly due to the train coming down thru the tunnel. I suspect we get a good low Monday maybe tuesday, than retrace up near the 1200 level. I still see a very good low near the Dec 8 time frame. Good Luck to you.
Hi Peace – I’m currently still positioned short. Picked a bit more up when the market tried to break through the 10 hour EMA this morning. I plan on holding through Monday – Tuesday. My “gut” believes we are close to a bottom but when a train is going full speed, I do not want to step in front of it. I’ll let the train decide when it wants to stop. Have a good one.
In response to earlier post. I follow several blogs and have subscriptions to IBD and other publications. There is no publication or blog (even paid newsletters) that can guarantee results. Following IBDs cup and handle methodology, if the market is not in a strong up trend you get stopped out like crazy. As I understand Red uses options on the indexes, which provides a bit of risk management, rather lose a few hundred on an option then a few thousand on stocks. I have actually found that this site offers a good balance and perspective if you read other publications. Invest with care, define your personal appetite, risk tolerance and time frames. I totally agree 5000 hours to become an expert, study the market for at least 5 years and have a broad outlook. Might not hurt to be short with a % of your portfolio right now.
Hi Parker, I am sorry Attilla came out with that statement. He has made some bad calls in the past, where a lot of people lost big money. Example, the lows 2009 he advised his clients to stay short or sit on the side lines as the market was heading up. Please note this was from another member from this site that stated this.
The best we can do, is swing trade from the summer highs to the resents lows from Attila statement.
As for myself, I will stay flexible and nimble trading the stock market. Although I am % 100 short here, I will be off loading most of my shorts here shortly. Looking for a counter trend for a few days. Than short again.
Bottom line is, be your own guru. NEVER Make a Trade with out going within to see if it FEELS RIGHT. Gut instincts.
All the best to you Parker
Attilla wrote:
ECB engaged in a massive quantitative easing, which is why the rating agencies accelerated the pace of downgrades; to reduce the cost.
this may slow down the momentum of the bear market by extending the broadening top into late 2012
what do you think?
Yes,you are correct with all the technical indicators in over sold territory. But yet they can remain over sold longer than we expect.
Start of Mercury Retrograde and a solar eclipse today……..We have room for one more ugly downday unless it’s a crash situation, then 2 days but I don’t think it will be the crash but a mini meltdown nonetheless. The stock indices are mimicking early August’s actions and the declines should really accelerate now since the Dow and Russell 2000 have penetrated the support at the mid October lows. But there really is only room for one more big decline day before a bounce……….
Think of this decline comparable to the May to mid July 2008 decline….
A certain little indicator is still a few weeks to a week 1/2 away from entering the crash zone at this pace but its internal component is reaching historic oversold levels.
This Thanks giving week is the worst week since 1932
Good move Nuggy picking up some shorts near the top. I personally will be letting go of some of my shorts Monday morning, hope fully with a gap down. I hate going into a weekend being fully short. As you said, you have to watch out for that train. As for me, if I see light at the end of the tunnel, I will be exiting very quickly due to the train coming down thru the tunnel. I suspect we get a good low Monday maybe tuesday, than retrace up near the 1200 level. I still see a very good low near the Dec 8 time frame. Good Luck to you.
Hi Peace – I’m currently still positioned short. Picked a bit more up when the market tried to break through the 10 hour EMA this morning. I plan on holding through Monday – Tuesday. My “gut” believes we are close to a bottom but when a train is going full speed, I do not want to step in front of it. I’ll let the train decide when it wants to stop. Have a good one.
Happy Thanksgiving everyone.
In response to earlier post. I follow several blogs and have subscriptions to IBD and other publications. There is no publication or blog (even paid newsletters) that can guarantee results. Following IBDs cup and handle methodology, if the market is not in a strong up trend you get stopped out like crazy. As I understand Red uses options on the indexes, which provides a bit of risk management, rather lose a few hundred on an option then a few thousand on stocks. I have actually found that this site offers a good balance and perspective if you read other publications. Invest with care, define your personal appetite, risk tolerance and time frames. I totally agree 5000 hours to become an expert, study the market for at least 5 years and have a broad outlook. Might not hurt to be short with a % of your portfolio right now.
Best fortune to everyone.
I do not know where every one is, but I am picking up my original shorts I sold out the other day to bring me back to 100% short.
Certainly.
http://practicalt.blogspot.com/2011/11/post-turkey.html