Dec. 21.08: Weekend Addition: Trendline drawing stock market

[xFIRSTMERITx]

Bear Market rallies can be violent. That is what trading is all about! Forget buy and hold!

[zozo71zozo71]

very nice.

but i am still outside the market.

waiting 4 the breakout to up or down

[peacethroughterror]

Be careful guys about advocating a position because it happens to be YOUR position. I'm seeing this on vistually every blog and chat room. People who only acknowledge and listen to bearish arguments because they happen to won TZA, SRS, etc. That's the kind of predisposition and bias that can cost you dearly. You want to plunk down 50k on a short sell. Fine. But do it based on the charts not because you're bearish and damn sure not because of the fundamentals!

[ezeqruls]

That's not my position. That's my opinion. I always take a position opposite what I'm thinking. Of course it's my position but I didn't take the position and then form a thought around it. There is a lot in the technicals but you can read it one way or the opposite, the same data. Some say VIX is going down - great bullish. Some say VIX has bottomed - great bearish.

[peacethroughterror]

Oh really? How can you be so sure? I have never seen a single trader who is capable of taking a position without being biased towards that position. Not one, and I know some pretty smart traders. Go to any stock chatroom or blog and you will see ample evidence of this. Traders who create charts and slant the patterns so that it supports the position they already have. Hey, even I'm guilt of it and I am pretty self-aware. You can see it in the language. The bias always comes out in the language.

[ezeqruls]

You need to read my post again (hint: sarcasm). Yes I agree people slant the patterns so that it supports the position they already have -- as in this video I commented on. Go back and see all the posts last 10 days. They all support a rally. I've read them both ways and it is not clear which way it will go. The only thing going for a bear rally is the season. There is nothing fundamentally supporting a rally though.

[maximumvalues]

unless there are 9 million blind and deaf people with crooked investment bankers putting thier money long... nope. i see nothing bullish in the tape or this massive bear flag that is on its last minutes. are you sure this is a bullish pattern? rising wedge rolling over? you seem convinced.

[maximumvalues]

im not buying this either. on the edge of a depression and were going to rally to the moon? im putting all of my soldiers to work short. this VIX is on a mini holiday. this is a massive bull suck in. i can feel it in my gut. another $50K short on Monday. i have my victims marked.

[ezeqruls]

I just completely do not buy this. There is no fundamental to support this. There is no one out there with any money to consume. That is why I can't get past this to look at technicals. I could've on Nov 22 but now is too late. I think we are at the upper end of a channel and soon to be headed South.

[talagor]

Good vid!!