You have way more wherewithal than I do, props for that! I want to go for economics but it’s just too dry and calculated for me. Good luck on the quiz and I hope to learn some of the textbook economics stuff from you guys. I’m more a freelance, self taught type that favors TA and psych. I am confident in my skills but not ego driven in the least. Simply, I want to take the tool the rich created to pilfer from the working class and use it the way they do. I’m not too proud to ride the coattails of the rich.
Sadly the markets are so wild and volatile here and they are not trending clean so I’m sitting cash. I’m hoping for a further lift on the DOW so I can get short to be honest. The cost of a short entry and/or to be long here is too risky for me given the over correction on the last wave of the DOW. So I’m in hurry up and wait mode, looking for a key level or volatility contraction. The volume was too high on the lows to get long as I see it…way too much fear in the markets and further testing of the lows (if not lower) are something I’m anticipating.
Do what I did…enter both long and short. The ETF’s are such an easy play in this market. I’ve been holding the ultra’s on both sides, mainly in financials and basic materials, and just picking my entry and exit points based on perceived market sentiment.
It will get worse in the immediate future as well. Basically, anything revolving or with a line is being slashed to the extreme or having the APR inflated to the point that the banks will profit no matter what. Housing, there are all of these loans that people default on, so they become bank owned, and then no one can get approved for loans to buy them, so they just sit. It’s a hell of a time to be liquid.
LOL so anyone that was smart enough to go short months ago and make money on the downfall has an ego? I do not have an ego ive had my ass handed to me in the market as well and am often times wrong. But the account is doing great! Thanks for the congrats.
We are just now in a “recession” based on the news. It took the market losing like 50% of it’s value to tell us this? Things are starting to get fever pitch doom n’ gloom which tells me things could be shifting in the near future.
Volume on the last lows was massive, now I want to see volume dying down showing a reduction in sellers on future lows (divergence). From there it will be a matter of looking for where the volume spikes again on the way up, well partially.
I’m interested in what the USD will do with its current consolidation it’s built up. Thoughts fellas?
It does look cyclical, but what is your point? It also seems the cycles are leveling off and elongating. I’m not sure what that would mean. How would that help me to understand the current trend?
Come on dude. Our generation has known nothing but change. Don’t be afraid of it. Yeah a lot of shit’s going to be worse, but a lot of things are going to get better too.
Oh I’m sure they will. To be honest, I’m not all that worried about it. The problem is predictability, and planning for a future that doesn’t seem as certain as it did a few years ago.
Either way, I’ll be applying for jobs outside of the US/Canada to see what’s out there.
I’m not afraid of many things, but change certainly isn’t one of them lol.
I’m scared of Gee-off though. He gets angry fast.
