This is scaring me. At some point the general stock market may get concerned about a currency crisis. But until then dollar down stocks up!
9 minutes ago
Wednesday, October 21, 2009
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About Me
- The Honest Trader
- I have been trading stocks since I was 15 years old. Everything I know about trading is from watching the tape for 1000's of hours and reading trading / investing books and online information. Everything I have learned trading has come from "real life" trading experiences. Meaning, I am a homegrown trader with no formal training. I started with $1,500 in an online account and have now grown that to a considerable sum through the years (paid a lot of tax too). I used to trade like an idiot and had no idea what I was doing. I lost money, made money, got lucky and eventually started to "get it". I have been high and I have been low - but I am still standing.
i think the rally is nearing an end, but it's hard to jump in front of the freight train and get aggressively short. but it feels like these pushes up are getting harder for the bulls to sustain. maybe we hit S&P 1120 for the chart peeps to be happy, but i think we are running out of steam... that said at the end of rallies there is often an aggressive blow off move to the upside that is then slammed down. so be wary for that action... but i know many are looking for that!
ReplyDeletemy hand is on the trigger to add some short exposure - biggest risk in my eyes is does the dollar continue to jump get hammered and allow nominal stock prices to rise - that is the major risk I see in shorting now.
get short now - i am
ReplyDeletethat was your sign peeps
ReplyDeletegreat timing on the shorts for me... gives me some "room for comfort" as these trades all were immediately profitable. my stops go above today's highs...
ReplyDeleteso we gor marginal new highs in all the major indexes today followed by a nasty reversal on huge volume. this could signal a trend change...if we get confirmation tomorrow many will sell/jump on the short wagon...
ReplyDeletei got heavily short at 3pm today...
another item that could become big is the Galleon and hedge fund story
ReplyDeletethis insider shit is real and the tentacles could reach pretty wide and that could mean a lot of forced selling...