DOW 8000 in the charts

[rsnoble-im-back]

Why does this bother you?

Many people have been taught this, dollar cost averaging, etc, don't panic and pull out low, it's basic shit for anyone who has an interest. You expected something else?

I have my reasons. Don't care to elaborate too much but I will say the bus travels faster with fewer passengers. So maybe "worried" isn't the correct word, more of a disappointment.

 

[Creepusmaximus]

Elliot waves are pretty hard to figure out. Once you have the complete chart you can place your wave structure easily but when you're trying to predict a future pattern it seems every couple days you end up changing one of the waves to a subwave 1 of A, etc and what looked 100% correct a week ago now is totally different. I think you could make it work on a winning percentage but with lots of study.

Screw Elliot waves, also people who trade what the VIX is doing. Everyone has their own voodoo but I don't look at either. In fact why look at the VIX? You can just look at options prices and know what's going on.

 

[Creepusmaximus]

Why does this bother you?

Many people have been taught this, dollar cost averaging, etc, don't panic and pull out low, it's basic shit for anyone who has an interest. You expected something else?

The top trader I've ever heard of made 25% a month for his entire career. Average costing is fine for long range safe investments, not trading.

 

[goin on 4T]

Elliot waves are pretty hard to figure out. Once you have the complete chart you can place your wave structure easily but when you're trying to predict a future pattern it seems every couple days you end up changing one of the waves to a subwave 1 of A, etc and what looked 100% correct a week ago now is totally different. I think you could make it work on a winning percentage but with lots of study.

i did study it for 2 years! When I was in college with one of the finance professors. He was trading futures and stuff. Good times then I went to work for Merrill and no time for charts.

 

[chewyxrage]

The top trader I've ever heard of made 25% a month for his entire career. Average costing is fine for long range safe investments, not trading.

no shit, I was commenting on something completely different that what your addressing right now.

25% a month eh? How's he doing now?

 

[JR76]

Elliot waves are pretty hard to figure out. Once you have the complete chart you can place your wave structure easily but when you're trying to predict a future pattern it seems every couple days you end up changing one of the waves to a subwave 1 of A, etc and what looked 100% correct a week ago now is totally different. I think you could make it work on a winning percentage but with lots of study.

I'll never forget a lecture on Elliot Wave my boss forced me and three other guys sit thru. The guy giving the talk (Yale degree, supposed authority on the subject) went prattling on about how he saw waves it what was otherwise an almost perfectly horizontal trading range. It seems like people can see waves 1) wherever they want to and 2) more easily after they have formed than while they are forming.

 

[Creepusmaximus]

no shit, I was commenting on something completely different that what your addressing right now.

25% a month eh? How's he doing now?

He's retired.

 

[magman1]

I have my reasons. Don't care to elaborate too much but I will say the bus travels faster with fewer passengers. So maybe "worried" isn't the correct word, more of a disappointment.

I would guess what has you worried that you are referring to is that we saw massive drops, but not huge amounts of volumes being traded, which would lead you to believe that mass sell-offs could still be in the works....but prices were so low b/c there just weren't many buyers in the market

 

[Razorguns]

Every comment here, was already made when the dot-com bust happened, and everyone lost money cuz they thought that cool new thing called the 'internet' was gonna make everyone millionaires!

wait til the next fake boom.

r

 

[HumorMe]

7500 would be my guess.