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Pat494
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Hopefully you are out a tad too soon ? I'm still in with fingers crossed.
Phil Mibbutz
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Out with a profit is never too soon! If I'd stayed in a 25-30pt loss would have been the result, because I almost never use stops wider than that, so whatever happened later wouldn't have helped.
Pat494
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Glad to see you made a profit.
Are you now wondering what to do ? Seems odd to be back in shorting again so soon maybe ?
well, i think we'll probably stay here at least for the day. I trade price not really what my opinion is. I try not to have an opinion but i guess if you dont have an opinion you're not involved in the market. Today, for example, my semibearish opinion would have gotten me burned pretty badly. I think eventually we retest the low, but not as soon as many think we will.
to be honest with you guys, i hate that this is a fact as im a total technician like u guys, but since i've kept up to date with news and fundamentals ive made money...........for example following the good news today has kept me out of the market so far...................im a shorter because we are in a bear market, better to trade with the overall direction in my opinion, until that changes im a shorter and any good news will take its time to take an effect on the market, just some of the stuff grey1 taught me, and it makes sense..
Pat494
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Interview with David Tice President of Prudent Bear Fund
For the last ten years the economy has been repeatedly invigorated by increasing credit, by such means as equity from privately owned homes and loans. The average American hasn’t saved nearly enough and has been recklessly overspending. This is like giving a drunk more tequilas to keep him going. The US Government has been doing exactly the same by using other country’s savings to vastly overspend in funding wars etc.
Recession could turn into Depression.
Somewhat bearish
For the last ten years the economy has been repeatedly invigorated by increasing credit, by such means as equity from privately owned homes and loans. The average American hasn’t saved nearly enough and has been recklessly overspending. This is like giving a drunk more tequilas to keep him going. The US Government has been doing exactly the same by using other country’s savings to vastly overspend in funding wars etc.
Recession could turn into Depression.
Somewhat bearish
Pat494
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firewalker99
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12600 around the corner? :-0
Phil Mibbutz
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You're mad! Although so am I, because I went short at 578, when I should have waited for 590-600, as posted earlier.
black bear
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black bear
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I am mad because I am not Long
Fw is sure to be sane and Long
Fw is sure to be sane and Long
i am but the way i see it there is no way we can remain in this area for too long, maybe not today nor tommorrow but 571 to me is a great swing low trade say 1-3 days, but im probably wrong so i wouldn't take too much notice. Im sure we will see 500 or less sometime this week.
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