Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, October 16, 2008
Out
I thought that the 899 low would hold, but it didn't so I sold my one unit at 897.50. I am still bullish and am looking for a chance to repurchase my long position.
carl, it seems that joe public's bullish sentiment isn't exactly broken. we may have to have a swift downdraft to kill off all the small investors. what do you think?
Everybody scared they gonna miss getting in at the bottom so they keep trying to buy the dips. The big boys are liquidating(selling into rallies). The bottom will not be televised. The trend is down and the trend is your friend. It seems as though many still underestimate the truly dire condition of the economy or how long it is gonna take before we are anywhere near "normal".
good one kleenup2, it does seem like every tom, dick and harry is trying to catch a falling knife. in the mean time, big boys are bailing out of the sinking ship!
The big boys don't have to get it right because they are trading with OPM...Other People's money. Never forget that money managers are paid to manage money. If they happen to turn a profit for you then great...they get paid more money. Also you must remember who and what moves the market. Supply and demand is the major driver of the markets...not fear and greed. when there is more stock for sell than there are buyers then price will decrease and vice versa.
6 comments:
882 already traded 20hours ago in NZ time
carl,
it seems that joe public's bullish sentiment isn't exactly broken. we may have to have a swift downdraft to kill off all the small investors. what do you think?
Everybody scared they gonna miss getting in at the bottom so they keep trying to buy the dips. The big boys are liquidating(selling into rallies). The bottom will not be televised. The trend is down and the trend is your friend. It seems as though many still underestimate the truly dire condition of the economy or how long it is gonna take before we are anywhere near "normal".
good one kleenup2, it does seem like every tom, dick and harry is trying to catch a falling knife. in the mean time, big boys are bailing out of the sinking ship!
Kleenup2,
Do the big boys always get it right?
Greg
The big boys don't have to get it right because they are trading with OPM...Other People's money. Never forget that money managers are paid to manage money. If they happen to turn a profit for you then great...they get paid more money. Also you must remember who and what moves the market. Supply and demand is the major driver of the markets...not fear and greed. when there is more stock for sell than there are buyers then price will decrease and vice versa.
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