This reminds me of an episode in Married With Children. Al Bundy and Marcy and a few others were at the bar, bitching about slaving for peanuts as working stiffs at jobs they hate, for families that don't respect them. “Why do we do it?” ” Because we are stupid!”
Yeah well, in time like this, I have an Atilla answer for that. “back then I forecasted it, BUT the market DIDN”T listen” ! haha.. such arrogance
Here is what happened. The adverse conditions have persisted since March. By March 26, the technical picture has evolved to bearish. I initiated short positions. The following week, the market started to flipflop around there. I bought my April Puts by April 1. By April 5-6, the market technical pitcture has changed, eventhough the inverse conditions that have historically preceded a 10% decline continued to persist. I blew the TZA out (at a loss, naturally) and kept he April for lottery play. And it has turned out exactly like all my lottery tickets, worthless. lol
I bought some May put spreads for another set of lottery play. I am risking 5% theoretically, but limiting that to half that in practice, ie,via stoploss. The april put spread costed peanut. About 1.5% Didn't care.
The May put was bought as first skirmish, not as main attack. But it does call into the question of my using input from sources other than my own. But who am I to argue with people who have been trading almost longer than I have lived, and have PhDs, and decades of data to back them up? Of course not. So I bought some May puts and now needing another shift at McDick AND Burger King.
The puzzling, or not so puzzling part is the reversal starting on April 5-6. Every star was lined up for the perfect storm toward the end of March. Then, nothing. Market turned around after Easter and didn't look back. Now that is not that unusual. Many cases of that. A minor hiccup, and then a resumption of the plunge in earnest. The resumption can start with at most 2-3 days of warning. So far, no sign of that.
Well, somehow I don't think we get to that 11,816 until later but we shall see.
QQQQ's are almost back @ 50, their going to get close to their 07' high
$DJI is ~6% away from 11,816
LOL! I remember that. Now its COD!
Unlike the QQQQ my VIX chart and VXN chart is without gap.
SPY 120.85 is the weekly close of the 9.22.2008 before the initiation debasement gap @ 119.18
Michael Steinhart, one of the greatest traders, reportedly lost $250 million shorting CSCO.
LMAO.. William Shatner refused to do anymore ad for PCLN b/c the shares he got as payment have lost so much value. LOL
let the devil get the hind most. You don't want to be left behind in this economy recovery, do you?
The more things change, the more they stay the same. Wall Street is always ruled by the madness of the crowd.
This reminds me of an episode in Married With Children. Al Bundy and Marcy and a few others were at the bar, bitching about slaving for peanuts as working stiffs at jobs they hate, for families that don't respect them. “Why do we do it?” ” Because we are stupid!”
Yeah well, in time like this, I have an Atilla answer for that. “back then I forecasted it, BUT the market DIDN”T listen” ! haha.. such arrogance
Here is what happened. The adverse conditions have persisted since March. By March 26, the technical picture has evolved to bearish. I initiated short positions. The following week, the market started to flipflop around there. I bought my April Puts by April 1. By April 5-6, the market technical pitcture has changed, eventhough the inverse conditions that have historically preceded a 10% decline continued to persist. I blew the TZA out (at a loss, naturally) and kept he April for lottery play. And it has turned out exactly like all my lottery tickets, worthless. lol
I bought some May put spreads for another set of lottery play. I am risking 5% theoretically, but limiting that to half that in practice, ie,via stoploss. The april put spread costed peanut. About 1.5% Didn't care.
The May put was bought as first skirmish, not as main attack. But it does call into the question of my using input from sources other than my own. But who am I to argue with people who have been trading almost longer than I have lived, and have PhDs, and decades of data to back them up? Of course not. So I bought some May puts and now needing another shift at McDick AND Burger King.
The puzzling, or not so puzzling part is the reversal starting on April 5-6. Every star was lined up for the perfect storm toward the end of March. Then, nothing. Market turned around after Easter and didn't look back. Now that is not that unusual. Many cases of that. A minor hiccup, and then a resumption of the plunge in earnest. The resumption can start with at most 2-3 days of warning. So far, no sign of that.