miketranz
962 posts
msg #92160
- Ignore miketranz |
5/5/2010 7:24:10 PM
Some thoughts to ponder.There's some good deals out there if you're willing to buy when everyone else is selling.QID any price move over 16.50 is a buy.Talk about oversold,pull up a 2 year chart.PBW a buy at 9.00 pull up a 1 year chart.The future is in green stocks.F any move above 12.50 is a buy,oversold,I bought some today,they say the company makes money???,sell at 14.50.......
|
taylorsk
106 posts
msg #92164
- Ignore taylorsk |
5/5/2010 8:03:07 PM
hey miketranz, I'm a big fan as you probably know.
Just wanted to point out that by buying QID, you are actually shorting the market it is a bearish/inverse etf. So in actuality if you are buying QID you are expecting the market to go down(to make money). This would seem to contradict your other recomendations.... Care to confirm?
Thanks,
taylorsk
|
karennma
8,057 posts
msg #92174
- Ignore karennma |
5/5/2010 9:20:20 PM
Thanks for the headsup on QID.
Just what I was looking for.
:>)
|
miketranz
962 posts
msg #92176
- Ignore miketranz |
5/5/2010 9:26:56 PM
Thanks again for your kind words.I get your point,it sounds a little contradictory.But on a chart basis only,QID which we know is a tech shorting mechanism,is extremely oversold.You couldn't call QID "fear buying".So we really can't put it in the same category as F and PBW,which would be "possible" long positions.Remember,know one on the outside really knows which way the markets headed.When you buy into the fear,it never feels right,it's like counter logic trading.Those are the types of trades that you can make some real money with,if you've got what it takes on the inside,to step up to the plate.Most of the trades that I've taken that "felt good",that were really logically thought out,couldn't miss,turned out to be the biggest losers.The markets are controlled by fear and greed,pleasure and pain.Just by understanding how emotions rule the markets,you can position yourself on the right side of it.........
|
Eman93
4,750 posts
msg #92184
- Ignore Eman93
modified |
5/5/2010 10:21:16 PM
miketranz
- Ignore miketranz 5/5/2010 9:26:56 PM
Thanks again for your kind words.I get your point,it sounds a little contradictory.But on a chart basis only,QID which we know is a tech shorting mechanism,is extremely oversold.You couldn't call QID "fear buying".So we really can't put it in the same category as F and PBW,which would be "possible" long positions.Remember,know one on the outside really knows which way the markets headed.When you buy into the fear,it never feels right,it's like counter logic trading.Those are the types of trades that you can make some real money with,if you've got what it takes on the inside,to step up to the plate.Most of the trades that I've taken that "felt good",that were really logically thought out,couldn't miss,turned out to be the biggest losers.The markets are controlled by fear and greed,pleasure and pain.Just by understanding how emotions rule the markets,you can position yourself on the right side of it.........
===============================================
When the market moves in a way I expect it is much easier to take a trade IMHO...... I have been looking for more downside for the last 5 weeks.... I went short on the rally today.... shorted that hammer when we filled the gap. sold at EOD I don't have full confidence yet to really swing it.
It takes time and experience like you said before, its something that needs to be experienced over and over until you become desensitized to it. When I trade it still feels like a giant chopping block, like some big industrial monstrosity you would see in a machine shop, cutting and slamming equal lengths of 6" steel, but on the other side of the knife is a pot of gold.... you just gotta stick your hand in and grab some....
When pros trade.... they start moving their hand in as the blade is coming down, in one smooth motion their hand goes in right as the blade is going up,,, they are pulling their hand out as most others are just starting to go in.... so there is no bull shit when they say timing is everything..... its the only thing.
|
miketranz
962 posts
msg #92210
- Ignore miketranz |
5/6/2010 10:29:41 AM
Chart of interest ITMN.If you think you have had a bad day,don't feel bad,how would like to be holding this one from $45....
|
sbuck143
88 posts
msg #92224
- Ignore sbuck143 |
5/6/2010 1:34:44 PM
Well, going unidirectional on a 1-drug-in-the-pipeline Biotech is kind of like a Darwin Award for investors.
Lesson: Do not let greed get in the way of rational thought.
Long 500 shares of ITMN is a different P/L curve than long 500 shares of ITMN with 5 OTM 6-month puts.
|
miketranz
962 posts
msg #92240
- Ignore miketranz |
5/6/2010 4:04:40 PM
Wow what a day.I thought I've seen it all,but haven't seen that kind of intra day dumping in a long time....
|
sbuck143
88 posts
msg #92242
- Ignore sbuck143 |
5/6/2010 4:30:40 PM
check the news articles.......CNBC reporting that the big plunge may have been just a glitch at one of the trading firms.
http://www.cnbc.com/id/36999239
|
Eman93
4,750 posts
msg #92253
- Ignore Eman93 |
5/6/2010 8:41:53 PM
Mike nice call on QID......
|