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sponono
Super Contributor
Happy that the market broke out of its reverse head and shoulders. the target on the Top40 index is 35,000 points. The only thing that worries me is that the rally is not broad based, it is led largely by banking stocks and a few industrial stocks. Commodities are nowhere near their all time highs. Any thoughts?
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58 REPLIES 58
Not applicable
If you gonna market overalls, you gotta be sure the heads and shoulders are in the right place.
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that is extremely clever. Talking of head and shoulders - if we break here at 30180 we move 250 lower to around 29950 then 29750 comes into sight. Should we break these levels in the next few days we are looking at the 28200 level ultimately.
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Rams
Super Contributor
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sponono
Super Contributor
you completely misunderstood what I said. please read it carefully or concede your response has nothing to do with my comment.
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Not applicable
Sponono also jumping on the bashing bandwagon I see..Your post was asking about the direction of the market. Yes - upon reading it again I am quite certain any sane person would agree. I have given my view of the direction so it has everything to do with your post (my view being that we move lower from 30520). The fact that I may disagree with your view that the market is a seperate issue. You may not like it (and possibly like the fact that so far it has been the correct view even less).
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I will leave you with this to think about...and maybe something you should take to heart since you said u were worried ... My belief in uncertainty is so powerful that it prevents my mind from associating the “now moment” situation and circumstance with the outcome of my most recent trades. By preventing this association I am able to keep my mind free from unrealistic and rigid expectations about how the market will express itself. I make myself available to what the market is doing and not my preconceptions of what it will do. In fact the degree by which I think I know, assume I know, or in any way need to know what is going to happen next, is equal to the degree to which I will fail as a trader.
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SimonPB
Valued Contributor
that is extremely clever
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Not applicable
please not you as well!...this was referring to the joke the previous poster made (about the overalls)...i thought it was extremely clever. Are we so negatively predisposed that everything is perceived as negative
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SimonPB
Valued Contributor
hmmm .. really ?? ok ..
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Not applicable
really Simon..I promise...
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SimonPB
Valued Contributor
if your belief in uncertainity is so strong (and I have no reason to believe it isn't and agree that's how one must trade) .. but then why do you hammer home your beliefs so strongly ?? if you believe in uncertainity surely you don't care about the future nor do you care what aybody else is doing in the market or their belief ?? or is this just a forum persona ?? coz it doesn't fit ..
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Not applicable
well we all have egos and it would be insincere of anyone to say that it doesnt feel good to be right. So there is some of that. But if you look more closely my beliefs are dependent on conditions being met...i.e. if this level breaks then that level comes into play etc. you will know that traders we need to think in probabilities and be flexible to the changing probabilities. Today we broke short term resistance and came back to retest. If we break the 30140 level tommorrow the pobability of going to the next lower target is good. I will maintain the view that 30520 is the top untill proven wrong. This view is not just sucked out of thin air.
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Rams
Super Contributor
and thats where you fall short as trader...you give the impression that the entry will always give you winning trades. Today, I know you made zilch because it was short all the way until US futures opened, but you would have been stopped out at on all trades if the stop was not wide! But like the salesman you are , you are trying to show that you can make good calls but thats useless in ALSI futures!
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sponono
Super Contributor
no bashing here. I have a BULLISH BIAS (with a concern over the lack of broadness of the rally) while you have BEARISH BIAS. is this difficult to understand. that's why I suggested you read my post.
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Not applicable
Rams as soon as someone says " I kmow for a fact" you know they know nothing. The trade was short at the close at 30520 on Monday. Today we moved lower by 350 points. I had to do nothing to make money.
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Rams
Super Contributor
and you expect us to believe you, you who lied to the forum on your first post here, you who has one agenda only and that is to sell us some used soap, and you who posted this: "I came across this guy on twitter. He seems to have made correct calls on 1169 points for last week ( about 5-6 indicvidual calls - long and short). Does anyone know of him? On the topic of number of points - what can realsitically be expected in some of the more expereinced traders opinion? "
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Rams no one has asked you to part with a cent -you are becoming quite hysterical about this - it all exist in own mind alone. As for believing me you dont need to believe you can believe my statement which I am quite happy to mail to you. my mail is [email protected] The only thing I ask is if you request this you report back to the forum honestly and truthfully
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Rams
Super Contributor
even your email is suspicious, what if you send me a virus.. and dont be so willing to show everybody your falsified statements: good traders dont advertise their statements!Go sleep now, tommorow a long day?
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Not applicable
oh damm my cunning plan foiled! At least you are now providing some amusement value.
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