Friday, October 10, 2008

Fully long

ESz from 870
SPz btw 850

All accounts deployed.

We will close 5% or more higher today near SPX 1000

This was the great opportunity for those long term and intermediate term investors.

We are coming out of the selling climax, upside will be as vicious as the downside.

We will never see these levels for the next 6-9 months.
--------------------------------
Edit on Wednesday October 15 2008, 10:30ET:
I expect the rest of the option expiration week as follows. Tomorrow's opening is important for this scenario to play out. (ES open > 932)

1866 comments by xTrenders :

«Oldest   ‹Older   1 – 200 of 1866   Newer›   Newest»
anabolic said...

Atilla what is your first target?

I do not think you will get out today?
You'll let it ride?

thanks.

AJ said...

Atilla

you got my money for your fund

unbelievable!

Atilla M. Demiray said...

SPX is going to 1360 before xmas

sahmtrader said...

LOve it! GO ATILLA!!!

Wiseowl from Texas said...

Thanks a lot for sharing your trades with us.

What is the target for initial 25% sell...

AJ said...

yes, THANK YOU!!!!!

deeply obligated

Atilla M. Demiray said...

Folks S&P will close up huge today,
followed by those suckers in asia on Sunday night

We will be trading above 1050 monday morning

anabolic said...

6 sigma day today???

John said...

Thanks Attila!

Got AAPL at 85.03

-JB

Kenneth said...

Trading halted in SPY

doc4bax said...

morning,, wow this is crazy,, obviously this was the wash out,, the cnbc people are speachless

angus said...

Atilla I was about to shit my pants:) your confidence helps me stay in:)

I'm up huge, but I'm staying in with Atilla with a stop above break even

Really Lost said...

If we close above 1050 by Monday, maybe my wife will come back.

bubb said...

Lol, still can't believe how fast that was. Barely caught a buy on ES around 850 on the way back up. Market is so damn fast right now.

PCP said...

SPX above 960 today? Seems very likely with the way 900 is being fought.

doc4bax said...
This comment has been removed by the author.
angus said...

I have a target 1300 NQ, I'm out

but not from the options

dougs charts said...

clf
+29% off of lows,,,,
more to go I think...

Atilla M. Demiray said...

NQ is going to 2000 for godsake, close your screen go to fishing or something

these are the times to initiate investments, not trading !

Vineet said...

Im long in SDS, QLD and URE. Go Atilla!!

angus said...

Incredible, I am banking coin BIG TIME

The Pearl said...

Atilla
You're not perfect. The market didn't cross above 900 until after 10 am. Seriously if I was going to have anymore children I'd have to name them Atilla.

sahmtrader said...

Atilla, what if a major bank goes bust overnight, or a war breaks out? What goes through your head (in two words or less) when such scenarios come to ind?

Thanks.

Roger
PS. Long and strong thanks to you.

anabolic said...

Atilla Victor!

Atilla Victor!

Ofer said...

Atilla , thank you very much, that 40 ES point below your entry was mind boggling, to say the least, but now we're so f****** happy! Thank you!

thedocument said...

When I start work on my time machine, the effort will be named "The Atilla Project".

aymon said...

attila, will there be a pullback later today or monday? market went down too fast and back up too fast this morning for me to buy all i can. didn't get enough nov spy calls at the prices i want because the spreads were crazy

Kenneth said...

Top at 875?

Lana said...

Atilla,

You've brought us to a point I have only read about. Thank you so much!

Kenneth said...

opps, typo ....stop at 875

buylo said...

you are "in the zone" better than Michael Jordan!

angus said...

I got out of NQ and ES right at the very top

still holding options on QQQQ INTC

12% of account

angus said...

ATILLA BIG THANKS!!!! I've never made so much money in less than 1 hour (50% return on my account!!!)

fx said...

atilla,
very nice stuff

angus said...

Mrs. market giving us a second chance with this dip?

Ofer said...

Atilla , what is your comparable short term target for the dow jones (something comparable to the 1050 target on SPX). Thanks!

johnboy said...

Atilla,

God called. He said he wants his crystal ball back.

I told him you lost it.

TonyH said...

Like 'the pearl' I am willing to overlook the fact that we crossed 900 4 minutes AFTER 10:00 :-)


I am guessing updates will be limited now with a full long position again. Although I am sure most of us will appreciate some feedback if you observe something noteworthy.

Are you 'looking' for any particular level to be retested on the down side or is this consolidation normal for the market to absorb supply (even profit taking from today's lows)?

thedocument said...

See. The Prez gets on TV and the market falls. Someone need to lock up all those clowns.

anabolic said...

I think this is perfect opportunity to RELOAD.

Atilla M. Demiray said...

We may test 885 or 865

I give less chance for 865

We will close up, big time today

world will be left behind again

Atilla M. Demiray said...

Dont forget that VIX is still around 70

we may see huge swings till we take out 970

sahmtrader said...

This testing business is pretty nasty. Just watched 75% of my profits for today disappear before my eyes, and still counting

angus said...

I'll be going back in at levels ES 865 NQ 1220

angus said...

sahmtrader said...
This testing business is pretty nasty. Just watched 75% of my profits for today disappear before my eyes, and still counting

Friday, October 10, 2008 10:39:00 AM EDT

--------------------------------

I know I saw a $4,000 profit in my options cut by 2/3

matNY said...

should we hold long through the weekend?

angus said...

This pullback is nonesense, how can anyone be a seller right here

Lawrence Chiu said...

Atilla, will you exit if we break today's low?

Atilla M. Demiray said...

yes hold your positions for the next 5 days minimum

S&P will be over 1100 by the opex

angus said...

Atilla is most likely right and once market sees there is no willingness to sell more it will take those highs and that will cause massive short covering

But, I don't have the stomach to jump in again into futures unless it is very compelling, options are safer

ko said...

"options are safer"
That's a interesting comment.
Sorta like saying Credit Default Swaps are safer. lol
That leverage is just irrisistable.

anabolic said...

Atilla,
holding for 5 days,
So i guess you won't be weaving in and out of the market, taking profits and buying again??

Ofer said...

this could be of interest to you: the % size of the rallies on the previous bear market:
http://1.bp.blogspot.com/_r_4bas-lh0U/SO1j_5EWP0I/AAAAAAAACIA/Oo2VkF_QA_Q/s1600-h/SPYbear00to03.png

angus said...

ko said...
"options are safer"
That's a interesting comment.
Sorta like saying Credit Default Swaps are safer. lol
That leverage is just irrisistable.

Friday, October 10, 2008 10:52:00 AM EDT


-------------------------------

You are WRONG, the leverage is huge in futures, something like 13 to 1 or so.

Options have a defined risk. If I made so much money today why would I risk losing it instead of taking a trade with a defined maximum downside and unlimited upside??

Atilla M. Demiray said...

anabolic said...


So i guess you won't be weaving in and out of the market,

Friday, October 10, 2008 10:54:00 AM EDT

-----------------

Not for the next 3 months

We will sail higher no matter what,

I will be working on other businesses like new fund ...

sahmtrader said...

Atilla, man do you have confidence. Hat off. Let me know about the fund, when ready.

Re. the fund by the way, would those who participate get to continue to follow a members only access to a blog like this one? Would hate to lose the opportunity to also continue to do this, even then.

Thanks.

anabolic said...

Atilla,

can you have a low minimum investment.. ppl like me are poor.. haha..

angus said...

I find it unbelievable that people are not jumping in to buy hand over fist at these levels (but then I am one of these people)

Where are those money managers who were swearing the market was cheap 25% higher?

Proves that market is a casino of emotions and the market efficiency theory is just pure nonesense

katzo7 said...

Hey, let me know when new fund is ready.

Susannah said...

That's why he's trying to make you richer, anabolic, LOL. Great plan, Atilla.

angus said...

Hard to believe the highs will be atken out today

I think the big pockets are waiting for this G7 meeting

Monday could be a big gap up

I will add options UYG if we test the lows (crowd was buying financials in the gap down)

amer said...

Hang on tough guys, this distribution is good for a sustained and prolonged rally.
Good trading all.

Chipster said...

Atilla,
Having watched your trading for the last two months I must say I am impressed. I only wish I would have done as well as yourself. I am in agreement that this is a solid IT bottom just based on the 839 bottom in the SPX today. This number hits alot of previous tops and bottoms it also hits the 1990 Oct low and if you really want to take it back it hits a high in 1938 (Just because I said something today I will get hosed and the market will get spanked! :) )

You have quite the fan club, I hope that alot of these folks go out and learn how to trade and master the emotional ups and downs that come with trading instead of blindly following someone!

Thanks for letting me tag along for the ride! Well back to my reclusive ways.

The best,
C

anabolic said...

possible 1115 retest of lows before we charge and never turn back.

Dan said...

Too early IMO.

Hope not though.

Gotta see those 2003 levels first I think

dougs charts said...

sheezz
they are calling the bottome on the funny channel..
if we collapse now its 7098 nest target on dji
today we hit my 7886 target near perfect

thedocument said...

Atilla,

Here is an apprentice question for you: do you think the fact that gold is not recovering as the SPX falls back is a sign that the SPX pull-back is just a consolidation/distribution instead a new panic sell? Do you look at things like that?

doc

angus said...

I am out of the calls at a small profit (INTC was a dog), I don't like the indifference of the crowd, I may be wrong and emotional, but I got to go for the rest of the day and don't want to have to worry

ATILLA you're the man and thank you so much!!!

I'll gladly hand you my account when you start the fund (hopefully it will continue to increase in value by then)

Sign off

dougs charts said...

look at tlab and clf,,,,green on the screen baby!!!!
have order to add to clf at 27 if it pulls bac enough....
cheers

Dan said...

Atilla. Put some stops in JIC bud.

Not saying you're going to need them, but after a run like you've had you need a clear head.

Hopin the best.

dhw said...

So this is just the re-test right?

I wasn't able to catch the bottom because everything was moving so fast so I'm actually underwater a bit. Hopefully, we get the EOD rally like you said.

TonyH said...

Uh Oh, no buyers... Slowly bleeding again...

Below 860 SPX, near that on ES.


Attila: To sweat it or 'expected'?


Huge swings, especially on large positions. I admire you keeping your cool, but I guess it is different with so much in 'booked' profit.

anabolic said...

Remember ppl,

atilla said it before!

VIX is insanely high, so expect huge swings in the market.

=)

jeff said...

hi, i am certainly not a pro, but i never enter a position without a stop, nothing is certain

TonyH said...

Stops being hit?

What is Ms Market telling you?

Lawrence Chiu said...

Yikes, I prefer huge swings up rather than just down

katzo7 said...

Stochs on 5 min. spx at 9 and 6, cannot go much lower than that

kam said...

Nothing is ever easy.

sahmtrader said...

Seems there may be a serious issue with Goldman Sachs. C is holding 10 times better. GS down 17% and dragging us with it. MS not doing better either.

Lawrence Chiu said...

Lower highs and lower lows. Is anyone worried about that?

Atilla M. Demiray said...

bot some UYG around 8

Lana said...

Big buyer volume stick coming into usd

sahmtrader said...

Atilla, please let me know when to sell UYG. In at 7.98. Do you see $20 or more in the wings? (Thanks again)

Atilla M. Demiray said...

we will close above 950, near 1000 level today

Atilla M. Demiray said...

uyg going to 32

aymon said...

attila, how much of a shake out today if we do get one? just don't want to be shaken out. thanks

katzo7 said...

GS may hit 74 today

TonyH said...

Attila: Here's the big question: What, if anything, can make you reverse/revise your position/prediction?

What would be an early 'tell'?

Win said...

Atilla,
What's your opinion about FXI calls at these levels? If we bounce 5%, China may go up 10%.

Dr. Peter Venkman said...

1000 by the close????? You're kidding right???
Based on what??? Name just one thing Please.

KC said...

Wouldn't want to see 858 broken.

ko said...

Just to play a little devil's advocate.

Noone worried that today looks just like yesterday. Strong opening rally, then weak until the big cliff dive. What's the odds that we do cliff dive number 2 near EOD?

Sam said...

Atilla, I hope you do realize GS or MS is going under this weekend or next.

katzo7 said...

Here we go guys, up from here

PCP said...

Highest volumes today on many ETF's. If they don't close well (green or green candle), even more troubles will come our way.

JReality said...

Anyone starting to get nervous?

jeff said...

this is beyond ugly, could see 7200 today

anabolic said...

oh no, this is getting a little scary..

but the market would have to try and shakeout as many ppl as possible.. too many ppl thinks its e bottom??

Sam said...

Atilla may go 99/100 and that 1 may be the going long today.

apconcen said...

1000 SPX by the close would be a 8 sigma event. If it happens at least I will be alive to see it. It requires that we close up almost 1000 DOW points !! or 1500 points from where we are right now !!!

BH_Trade said...

"we will close above 950, near 1000 level today"


Your forecasts have been downright amazing lately, and you perfectly played the crash of 2008. If we do close anywhere near SPX 1000 today I will be completely speechless and in awe.

Just one question: does the new intraday high in VIX concern you?

dougs charts said...

good shot at going much lower now
28ish on qqq,,, 7098 on the dow,747 on spx

Atilla M. Demiray said...

emotional moments...

option traders reading ticks and calling crash

we already crashed, money was already made on the downside

it is time to be positioned for the next leg which will be on the upside


i know the fact that most of you are retail traders, trading options and stuff based on intraday swings but you will see in a few days that these are the times to be invested

aymon said...

i was speechless with the 4sigma move when market was positive yesterday. let's see this 8sigma move

ko said...

I think what we are seeing is the raw power of the forced mutual fund selling and forced 401k selling. Once that massive wave ends, then we will rally. The key is stopping the drop and finally "convincing" people that the market is heading back up. One they see it is heading higher, we will moonshot.

Kyle said...

Investor confidence is 13% on the Smart Money/Dumb Money Indicator. Just so that you know Smart money confidence is 76%. That is a huge spread.

Listen to Atilla. My portfolio is leveraged to the gills with 2x and 2.5x funds. Turn off the computer and TV and relax.

Shawn said...

The high VIX 74 is a real concern. Is this panic or smart money buying puts to prepare for LEH's cds unwind?

Dr. Peter Venkman said...

I still say 1000 by end of day based on what??
Charts, Astrology, Elliot Wave, Fibs???
1000 doesn't seem possible. Period. Use risk
tools.

Lana said...

This is what I see. Neg D on Vix. Qld wedge with falling volume and about to break up. Just what I see. And I am leveraged to my nose.

dougs charts said...

Hope your right atilla, i am holding and adding but prepared for the worse...have uyg qld clf tlab got some plm on firesale at .907whew......and my puky pfe for now,,,,,

dougs charts said...

oh ya, and some usd,,, what a spread on that one...stick to the bid...

Atilla M. Demiray said...

Dr. Peter Venkman said...

I still say 1000 by end of day based on what??
Charts, Astrology, Elliot Wave, Fibs???
1000 doesn't seem possible. Period. Use risk
tools.

Friday, October 10, 2008 12:07:00 PM EDT

--------------

Based on me, I buy market go higher. that simple

all those crap people use are rubbish

anabolic said...

Atilla you are the man.

F&^% it I am going into do or die mode fully leveraged long!!!!

JReality said...

Is today the end of the Bear Market, or just the beginning of a multiweek countertrend rally?

sahmtrader said...

In a few minutes we'll know if we've already put in a double bottom.

apconcen said...

Dr. Peter Venkman ..this is not university..its the real world out here man...blow up them beach 'balls' between your legs

Atilla M. Demiray said...

see Russel2K?

wonder why it is up 1.5% while SPX down 4%

rut is a thinly traded index quand funds cant hide their footprints

whales have been waiting for this moment for a long time

sahmtrader said...

There it is. Gooooooo Atilla!! Thanks again.

Kenneth said...

Atilla as I posted previously, after my 30 years on Wall Street, no one has the patience and nerves to hold the trades you do.

All your readers look for comfort because they just don't have your strengths, mastered after many hours.

On behalf of all of us, a big thx. Whenever you can post, everyone finds great comfort reading it.

sahmtrader said...

Atilla, what's the RUseel2K symbol you are looking at please? Thanks.

parker0x said...

RUT is down 4% atilla, I don't understand? It's not up 1.5%?

elul21 said...
This comment has been removed by the author.
Shawn said...

Atilla, I learned that you were very bullish on china for the long term.

I wonder what's your take on ShangHai index going forward?

I still hold the belief that ShangHai will test 1,500 based on my chart, even though the government intervene 3 weeks ago.

Is your new funds investing into China? Appreciate any response.

senrex said...

Hi Attila & Folks: I have the RUT down 4%. Am I getting a wrong reading?

senrex said...

IWM is down 4% as well.

zigzag said...

I have Rut down too. Having trouble with TradeStation also.

Dr. Peter Venkman said...

Let's see where the market closes.....Tick Tock, the
clock is ticking.....

apconcen said...

russell 2k is up ?

ARAK said...

There comes the fuel for the rally .. 3 day short ban on Nasdaq and NYSE

PCap said...

Sam said:

Atilla, I hope you do realize GS or MS is going under this weekend or next.
-------------------------------

That was funny, GS going under, ha ha ha... when do you do your stand up routine?


.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
Dr. Peter Venkman said...

I still say 1000 by end of day based on what??
Charts, Astrology, Elliot Wave, Fibs???
1000 doesn't seem possible. Period. Use risk
tools.

-----------------------------
Monday is a Phi turn date

.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
Atilla, what's the RUseel2K symbol you are looking at please? Thanks.
-----------------------------
RTY [index] [go]

anabolic said...

one more time everybody!

Atilla victor! Atilla victor!

Sam said...

Guys, for the first time this week, intraday BB on SPY is contracting and tightening. This usually leads to a BB breakout.

Question is which direction.

Shawn said...
This comment has been removed by the author.
Lana said...

GS staying above 83 will keep me happy I have traded GS and use that as a barometer.

Shawn said...

Hey guys, instead of asking intraday swing ups and down with emotion, why not take the time to read this article -- IT WILL COOL YOUR HEATED HEAD WITH A PERSPECTIVE.

As Atilla said, close your pc and go fishing.

Visit http://bigpicture.typepad.com/
and http://www.fusioniqrank.com/blog/byid/258.html

Sam said...

PCAP, You probably laughed too when people told you LEH was going under.

GS and/or MS will be gone by year end, maybe this weekend.

parker0x said...

sam: I diagree. Goldman IS the Fed, and MS is Goldman's last backstop. IMO the Treasury will guarantee all deposits this weekend.

PCap said...

I was short BSC, LEH, heavy short MER for a long time.

GS not going to fail, they are on the 'safe' list, same as BoA, and JPMChase.

MS is a toss up, but at this price, not worth shorting.

Please make more assumptions about me, because when you assume, you make an ass out of me and u.

dougs charts said...

I think you have to get long this crap cuz its gonna move up so fast you will be like a deer in the headlights if you don't have some.
cheers

TonyH said...

Does anyone know of any site that calculates cap turnover for stocks (or the whole market). I have a suspicion that in many companies we have had more than 1x turnover (not just of the float, but the total outstanding shares) in the last couple of weeks.

Which strengthens I guess Attila's position that the money has been 'made' on the downside.

Dr. Peter Venkman said...

Anabolic,

The market is DOWN 250, not up. What are you cheering about????

Icedog16 said...

GLD is sinking fast. what does this mean?

anabolic said...

Dr. Peter, the market may be down, but I know it will go up!!!
how I know??
Because Atilla says so.
Market goes up only if Atilla longs.
lol.

Chill man, I am long with average price 866, so I'm up now right? =)

aymon said...

i believe monday is a holiday and markets closed, would this affect the positive end of day rally? would there be a sell off heading into weekend?

katzo7 said...

What we are cheering about is a classic high volume, low up to down ratio short term bottom.

PCP said...

Calls for short term ban on all shorting

Dr. Peter Venkman said...

Anabolic,
Yes you are up...That's good.. BUT the day is not over yet. And there is NO WAY this market is going to close
above 1000........NO WAY....Sorry....Down 300.

Gozen said...

OK Dr, your turn.

OK what basis will the market be down 300?

anabolic said...

Dr. Peter,

you are taking predictions too seriously. Who says I want 1000 today? 900 alone would bank me significant coin.

Did u see Atilla's 4 sigma below 900 call yesterday?

gnuttall said...

Dr. Peter Venkman, since you must put Dr. in front of your name when you post, you must be an academic.

Well, I suggest you do your due diligence and calculate the number of times Atilla has been right in the past two months by reviewing his posts and comparing to your so called "impossibilities". Then calculate the probability he his right based on his past calls...there is your proof.

Dr. Peter Venkman said...

I meant the market was down 300 at the time. Sorry
for the confusion...I don't PRETEND to know where the market will close.....Nobody can do that. But to close
near 1000 would take a move unimagineable..Statistically, way over a one in a million shot....Ain't going to happen......Sorry. Buy a lottery ticket instead.

Narayana said...

statistics have been thrown out the window in the past couple weeks.

Susannah said...

aymon, market's not closed on Monday.

PCap said...

Susan said:

aymon, market's not closed on Monday.
-----------------------------
Canadian market is

WagTheDog said...

Bloomberg: Leaders May Close World's Markets

Quote: ... political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

Link is here: http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM

apconcen said...

1600 DOW point rally in under 3 hours...looks like we have to pospone the 8-sigma ?

Vin said...

Erg. Call buying on indices and ETFs has been shooting upwards all day long (ISEE index on indices/ETFs = 104).

Jonny said...

Atilla (or anyone else), did we confirm that the Russell2K is indeed NOT up, but rather down roughly in line with the other major indices? That's what I see on my tickers and on Bloomberg.

thedocument said...

Sheesh folks. The RUT is down. Chill. It doesn't matter.

Susannah said...

wagthedog, ugg, it's on Bloomberg, guess it's time to pay attention. Their timing stinks if they do it, we could've found some support, huh?

Dr. Peter Venkman said...

Guys, I'm not trying to wreck the party..Really. Just trying to provide some reasonable logic. The market is at 859 and Dow down 440. It's 1:20..... We'll be lucky to close positive...So cheer if we turn positive....
Hope is NOT a stategy guys.

Lawrence Chiu said...

Atilla, can you give us an update please on where we will close? With less than 3 hours to go, it seems like we will not get to 1000?

Dr. Peter Venkman said...

Lawrence.
WE are not going to close near 1000. C'mon.
Like I said, Hope is NOT a strategy.
Money mgmt. and risk mgmt. Good luck.

sahmtrader said...

Atilla, bang on re. Gold plunging. when everyone is bullish on gold. Had to rub this one in with one of my buddies who was bullish.

Lawrence Chiu said...

I guess we should have shorted that spike in the morning instead. *sigh*

thedocument said...

You all must just like to argue for the sake of it. Who cares if the SPX isn't going to 1000 today? If it makes it there next week will you still be happy or will you continue to remind Atilla that it didn't go there today?

Dr. Peter Venkman said...

Lawrence,
Looks like it. Sorry.

apconcen said...

cds auction announcement at 2pm

doc4bax said...

monday will be rally day

Really Lost said...

Market seems to be in "wait and see what explodes next mode."

JReality said...

Isn't the market closed on Monday?

thedocument said...

Looks like people are expecting a crash on the CDS announcement. Wonder how much is already priced in. perhaps the only surprise can be to the upside...

tommy t said...

Atilla, my stuff says we could explode at the close and/or gap up huge Monday...But, a sell scare in the next hour first. I assume you seeing something similar?

dhw said...

I hope this is not the one thing Atilla is wrong.

No disrespect, because you are the best trader I"ve ever seen, but I've noticed your short calls have been much more accurate than your long calls.

PCP said...
This comment has been removed by the author.
Dr. Peter Venkman said...

TheDocument,

Now it's next WEEK???? We've gone from a MASSIVE
RALLY TODAY to 1000 next week sometime????
And no rally today at all, much less a one in a million
shot historic rally. We're now DOWN 500 guys and at
852.....

Rose2797 said...

Atilla

I kept asking you about oil and gold stocks. But you consistently said not buy them

thanks again. The market needs to close positive today

thedocument said...

Single-digit silver. Gold down $100 from last night. Oil down $10. SPX down 20% this week. Wow. Talk about raw liquidation! This is fun to watch.

Dr. Peter Venkman said...

844 and falling....The reason his short calls seem better is because the market has been dropping like a rock.....Money mgmt. guys. don't get burned!!!

kam said...

Time for an Atilla update. What's happening, Big Fella?

dougs charts said...

on the edge!
double bottom or plunge to dji 7098!!!!!!etc

Really Lost said...

Uncle

Vineet said...

wow!!! this is indeed scary! I went long earlier in the morning and this thing is dropping like a rock. Any one else scared??

Dr. Peter Venkman said...

kam,

Big fella must be out fishing....or very confused????

dhw said...

Of course I'm scared. The market moved so fast in the morning, most people didn't get in at the bottom so probably all the longs are underwater and nervous

ARAK said...

Guys,

Atilla can wait for a 100 point swing the wrong way until it goes his way. If you are levered up too much you can't do that.

Vineet said...

Yesterday was the most profitable session of my life. Today is the most tense...Hang on guys!!

Gozen said...

Patience guys. Go fishing or go out and take a walk. Sell some positions if it makes you so uncomfortable. Manage what you can handle. The market will reveal itself soon, up or down. I think up. I'm holding my longs. Don't get scared out.

kam said...

Fishing, maybe. Confused, I doubt it

jeff said...

so much money lost today...

Dr. Peter Venkman said...

Like I said....money mgmt. guys. Live to play another day...no your limits...and stick to them....

langbard99 said...

I' ve entered long as well...........I was hesitating, but then I saw the call and decided to enter immediately. I' m sure it's well done.

aymon said...

buy index calls but hedge with a pos stock that you know will eventually crater after the bs run

Vineet said...

Im invested in QLD, SSO, URE and UYG. Im not looking for positive returns just for today, but in the next 3 months. This storm WILL pass and in 3-6 months from today, I will be glad that I bought today!! I agree with Atilla, we are very close to a multi-month bottom

Vineet said...
This comment has been removed by the author.
geosing said...

People following trades here, please have a clear exit strategy. I am a daytrader, playing for chump change. I was long and short today and currently flat. The NYSE A/D does not look very healthy for a rally at this point. It may be difficult to replicate Atilla's performance - just by following posted trades. Very high risk (obvious high reward) environment here.

doc4bax said...

must be monday already

Jana said...

Dr., Dr., Dr,, with all the years of schooling you've endured, surely you retained the basic knowledge to know that "no" isn't "know."

Vin said...

Vineet, know what you're holding. The 2x funds rely on derivatives to achieve those gains. There are some settlement risks if the market ever closes prematurely due to a lock-limit. You should double-check with the prospectus listings at proshares...

Lana said...

I'm ok GS still hanging around the 83 area not looking that weak. Now if I can get the word verification right.

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