If you're short, I'm the sucker going long....: If it stops the bleeding.....

Wednesday, September 17, 2008

If it stops the bleeding.....

Do I say "it's different this time".

The real problem is that sentiment wise I have to believe it........

8 comments:

tradewell said...: Today panic button hit a level higher than Oct '87.; September 17, 2008 at 8:32 PM
Eric said...: "panic button"?

I just can't take another night of this....
I hate day trading..; September 17, 2008 at 9:28 PM
tradewell said...: I get Gary Savage's newsletter (The Smart Money Tracker).

If you're rolling your eyes - don't! He's special, I think he's alien :)

I think it's his proprietary reading. Quote:

"On another note the Panic button hit a 9.5 today. That’s the highest reading ever. The next two closest were 7.8 in Aug. 82 and 7.6 in Oct. 87. "

I have to say, I'm hating day trading as well. I LOVE swing trading. I had much higher reward, much better success rate and just overall, peace of mind.

I made like 75 roundtrips (trades) this month so far and net result is$4,500 or so. Pathetic.; September 17, 2008 at 10:31 PM
Eric said...: Ya, it's just draining. I also hate doing it from the short side.; September 17, 2008 at 10:34 PM
Eric said...: You see the stuff about how investors so don't want equities, the ran into the 3 month treasury at $4, return on 10K over a year.

and to top that off, they hate the treasuries so bad, that they ran into gold.; September 17, 2008 at 10:38 PM
tradewell said...: If they slash rates -> hyperinflation, no cut -> deflation.

Let's watch...

PS. And I hate SKF.; September 17, 2008 at 10:48 PM
tradewell said...: futures are looking flat :); September 17, 2008 at 10:50 PM
Eric said...: by morning they will be down 200. It's why nobody wants to hold stock overnight.

I have almost no optimisum.... Monday.... maybe then; September 17, 2008 at 10:52 PM

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