Stock Market Today - Intraday discussion - Page 3396  

Sometimes, I just sit here and laugh at the people who didn't get it.

If we fell through it, and closed through it, I would have puts, I could care less if Im right or not.

I trade where the market goes, not what I want out of the market.

All indicators are bullish, go short, Id rather take my chances long.

so you think we're in an uptrend correct? so if good news comes out today, tomorrow or the day after or anytime in the next few days/weeks, markets should "run up hard"? unless of course it doesn't.. then its "put on the backburner" for a later time...

We are in an uptrend, look at all the indicators,

do you use charts?

If good news comes out, we will run up hard,

I dont think good news is going to come out though

we did hit the 20 MA,

SPX.

oh on the spx.. it also shows we broke through it... before recovering...

What would be considered good news that would drive the market up?

Mike, you're missing my point entirely.

You said that TA runs the market and that stocks bounced "because they hit support".

That's simply not true.

People misunderstand TA enough without adding more confusion.

How many posts have been put up here talking about how TA 'works' or 'doesn't work'?

The point is that TA is not something that 'works' or doesn't 'work'. It's like saying that an idea can have color. Purple is not a property of the concept 'idea'. Nor is 'work' a property that applies to TA.

TA is absolutely nothing more than a money management method. That's all it is.

When you take a position, you have a stop in mind based on the last high or low or whatever it is you like. The coming direction of the price is irrelevant. Stocks go up and down and they really don't pay attention to any specific indicator.

There are basically two ways to trade effectively. One is to trade so that your losses are small and wins are big - lots of losses vs. few big ones. Or you can be more of a scalper and have lots of small wins vs. a few big losers. Either way can make you mountains of money.

But it's not because you entered a position at the 20sma that you made money. It's because you have a money management system and stick to it on every trade you enter. That money management system happens to be based on recent prices in the market (lows/highs), but you could just as easily base it on purely imagined numbers (-25% losses vs. 75% profits to close your trade) and still do very well over time.

I already posted this news that is driving the markets today.

US wins soccer game!

of course TA isnt a for sure thing,

it did bounce today, so it did work this morning.

Tell me why we arnt down today?!

I want to hear your input instead of telling me that im wrong.

What FOMC decision will cause to do what? I hedged my X puts with calls because of the soccer game.

are you serious?

It broke through the line barely,

It works just as a resistant point, just because we "barely" break through it doesnt mean we broke through it to the downside

Obviously it worked as resistance because look how it bounced off...

UPDATE 1-Homebuilder shares rise despite sales dip

Did you read my post? I don't know why you're being so defensive. I'm not telling you you're 'wrong'. I'm telling you that you are attributing correlations that don't really exist.

Looking at the SPX over the past couple years, you can see that the 20sma has been ignored a LOT more often than been bounced off of.

What you're saying is like me saying that my taking a dump causes it to rain because today I took a dump and low and behold, it rained!

Of course, my dumps don't ALWAYS cause it to rain, but TODAY it did! So, you go ahead and prove to me that my craps don't cause it to rain. (Hint: The proof is that it doesn't rain every time I crap, or even most times. Just like that 20sma...)

strange market..

i think the fed is a non-event. regardless what happens imo market will sell on the news. bought more uaua 20 puts. major holdings now are uaua puts, and nflx puts.

you win,

I came into today with some puts, guessed to sell them at the 20 ma because I liked the color blue, and thats the color of the line.

Then I re bought calls guessing, obviously, because charts can't always work.

Now Im up over 100 % before the fed's decision, damn I must be really lucky today,

it worked today... will it work tomorrow and next week? that's the point im making...

don't take my posts as a personal attack on you. I'm just providing you and other readers here with the view from the other side...

my take as far your good news/bad news theory is this... regardless of what kind of good news comes out, we will not see new highs for the year UNLESS some kind of totally UNEXPECTED SURPRISING good news comes out.. majority of the good news and data have been priced in already from March 2009-April 2010. I don't think all of the bad news have been priced in already as you have seen from Feb 2010 into present time when the markets sold off heavily because of the Euro fears... You think we are clearly in an uptrend while I feel like the market is still unsure of which direction to go. the market has been clearly volatile the past few months which is indicative towards market uncertainty.

i feel like the market needs to go higher before we can truly go down. not sure when it will happen, but when you start seeing the mom and pop investors jumping in the markets again, i think that will be the start of the next major leg down...

Finally something we can agree about,

except instead of seeing the mom and pop investors jumping in, Id rather use my charts

his point was he had a plan based on TA and it worked for him today. will it work tomorrow? who knows. nothing is guaranteed.