I say screw the filters. You might as well blindly throw the darts on the wall (and still manage to come out with a decent return), considering that we're in a overly, if not erratically, euphoric environment. Well, duh, you knew that already. But who the hell really cares about past performance? We're suppose to be in a new environment making new history (unlike any other "new-ish" times, so I'm told). Whenever the media reports the sell-offs as overkill, while claiming a shot-through-the-moon rallies as, well, just sane and sound, you would be better off without the holy grail altogether.
Niko I sympathize with your plight. In this current environment any sell off is viewed as a buying opportunity. Because of those knuckleheads on CNBC. Last week I bought puts on the spy's,(just a hunch). Watched the trade go against me immediately, kept telling myself this euphoria can not last much longer. Watched as the losses mounted. Fortunately for me we had the big down day on Friday, and I covered at a very small profit. Your turn will come, and you will see an exodus en masse. Be ready. Good luck
Thanks for ure advice, although it's not so much a plight than a gripe. Only thing I can add is that you should have ure stops in place at all times regardless of what market ure in.
So, what the hell is the excuse for the selloff this time around? Personally, I think the media pundits (aka morons) are running out of excuses. But then again, I suppose the bargain hunters will swoop in again tomorrow and save the day, perhaps saving faces for some.
This has become to a large extent a technically traded market. Fundamentals are an aside. Fundamentals are a tool used by the media to whipsaw the Sh@t out of small time traders, and it gives them something to talk about on TV. I don't listen to CNBC, except to check out the babes, especially Julia Boorstin, Wow.
Is there Tom Jones fans here? His latest hit, "Stoned in Love", in collaboration with Chicane, absolutely captures the spirit of today's market action.
♪♫♪♫ I'm stoned in love...but not with you ♪♫♪♫
Here's the video of "Stoned in Love". (I'm not sure if this is allowed...if not, sorry.)
JRbikes I like your idea(posting picks), and I will be the initiator. Today 7-25-07 Amzn will gap between 12-18 dollars in the morning, on huge volume. LOL. Ok lets get real, I am looking at JCI, It is at a very strong support area, thanks to yesterdays sell off, I believe this stock was overdone yesterday, and I am making a commitment at the open, if JCI breaks above yesterdays high, I will add to the position. I am trading the AUG 115's JCIHC.
Good Luck Bob
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