04/10/2013 Live Update

[HenryR]

Thank you for sharing. It's a very touching story. It made my day.

Since this has been formally published, I will re-post it here just so traders step away from trying to call a few points move and think about the big picture a little bit more.

The last 13 years, the following has occurred:
-- Tech bubble burst
-- 9/11 attacks
-- Iraq War
-- Housing bubble burst
-- War protests
-- Occupy Wall Street protests
-- Financial crisis

Do you really think this can last forever? Yes, we are on record calling for an eventual mega-boom in stocks, which has likely already begun as the market breaks out, which should last anywhere from 8 to 20 years.

My 107+ year old Great Uncle who was worth close to $3 Mil in 1929 and lost it ALL and then some. He has and still trades stocks to this day, currently online with Scottrade. He has traded stocks all his life and made a living at it. He has seen plenty of your type of calls. He would laugh, in fact I will share your views with him when I talk to him later this morning as I do everyday. Here is a link to an interview with him http://www.youtube.com/watch?v=tIYnW8sb8bM . He has seen and TRADED through it all in the last 90 years, made and lost fortunes and has had an incredible life.

The markets shake people out. IF you have the staying power to watch 90% or more of your portfolio and/or complete worth evaporate and STILL have the ability to hold for 50 years to recover and do not do this to generate DAILY and MONTHLY and ANNUAL income then good on you, but remember this is a DAYTRADING FORUM. IS big picture important ?- sure it is but not in the same way that an hour or daily chart is to me as a long term chart. IF you have DAY trading view points to share please do, but if it is going to always be holding for a year, please find somewhere else to share your views. I do this to put food on my table, and a roof over my head, I really do this because I love it. but I have bills to pay every month, and the utility company doesn't like it when I put my portfolio statement in an envelope and pay a bill with it. Do I have money INVESTED? Sure do, but you know what, it is with someone who has and uses a different view to me. He does well, but the fund he runs still transacts through the year.

And BTW - Mr Miyagi has the "We're never Going Down Again" spot well covered and documented!!!

[daytradingES]

est rng to ES low of 1567 => 1579.75
this thing is like a drunken sailor.
(message flr)

[Out of Bounds]

Fib retracements on this latest move

[Out of Bounds]

Fib retracements on this latest move

Capture.PNG

AWWWW! Heck, by the time I posted it - it was invalid.

[flrtrader]

est rng to ES low of 1567 => 1579.75
this thing is like a drunken sailor.
(message flr)

Thanks Message

[Unique]

Shorted GS, 50 cent risk for 2-4 bucks potential. Swing.

[gappy]

POTUS: eliminate tax advantages on IRA's? Another Jackass.

[victorm]

If you have some free minuts please read, German elections should change the picture drastically...
George Soros urges Angela Merkel to consider quitting euro... http://www.guardian.co.uk/business/2013 ... -quit-euro

[Major]

Looking at the tone of the discussion about long term vs day trading leaves the impression that the opinions of those with longer term perspectives are not welcome on this board. It seems to me that this attitude is rather short sighted.

Day trade is self explanatory, but what is long term? Is someone who looks ahead 30, 60, or 90 days a long term investor or is it only if one year or more? Is it not possible that one may take positions on weekly or bi-weekly basis but does so in the context of a longer term, however defined? Why would that person not be entitled to an opinion on this board?

There is always a lot of discussion and charts relating to Elliot Waves. Breaking news - these charts do not span one day or even one week. Should these and those discussing them now be banned?

A longer term forum would be helpful but castigating those whose perspective is not day trading and wanting them excluded from this board is unreasonable. This strikes me as promoting "group think". Is this really what readers of this board want?

[Unique]

Scalp shorted SPY @ 158.38, looking for maybe 20ema 5min if doji +reversal candle confirmed

[gappy]

Looking at the tone of the discussion about long term vs day trading leaves the impression that the opinions of those with longer term perspectives are not welcome on this board. It seems to me that this attitude is rather short sighted.

Day trade is self explanatory, but what is long term? Is someone who looks ahead 30, 60, or 90 days a long term investor or is it only if one year or more? Is it not possible that one may take positions on weekly or bi-weekly basis but does so in the context of a longer term, however defined? Why would that person not be entitled to an opinion on this board?

There is always a lot of discussion and charts relating to Elliot Waves. Breaking news - these charts do not span one day or even one week. Should these and those discussing them now be banned?

A longer term forum would be helpful but castigating those whose perspective is not day trading and wanting them excluded from this board is unreasonable. This strikes me as promoting "group think". Is this really what readers of this board want?

I read in no castigation on any such perspective.

[gappy]

Scalp shorted SPY @ 158.38, looking for maybe 20ema 5min if doji +reversal candle confirmed

[Out of Bounds]

Looking at the tone of the discussion about long term vs day trading leaves the impression that the opinions of those with longer term perspectives are not welcome on this board. It seems to me that this attitude is rather short sighted.

Day trade is self explanatory, but what is long term? Is someone who looks ahead 30, 60, or 90 days a long term investor or is it only if one year or more? Is it not possible that one may take positions on weekly or bi-weekly basis but does so in the context of a longer term, however defined? Why would that person not be entitled to an opinion on this board?

There is always a lot of discussion and charts relating to Elliot Waves. Breaking news - these charts do not span one day or even one week. Should these and those discussing them now be banned?

A longer term forum would be helpful but castigating those whose perspective is not day trading and wanting them excluded from this board is unreasonable. This strikes me as promoting "group think". Is this really what readers of this board want?

Major, for me at least, the issue is the preachy tone and the pseudo-economics and multi year predictions. Reviewing this blog, one would be hard put to find a hive mind mentality; there are a multitude of approaches and constant differences in opinion. I have little patience with those who post here saying "we have published" this or that opinion and telling us that anything else is wrong especially when they do not remain to engage in any dialog.

[BullBear52x]

Now I see lots of bears get frustrate by this move. well, I will buy 1 contact of /ES later today and keep it over night for the team

[gappy]

djia.PNG

[flrtrader]

Now I see lots of bears get frustrate by this move. well, I will buy 1 contact of /ES later today and keep it over night for the team

Kinda Quiet today... Miss your thoughts

[Cobra]

members only update at 11:31 am
http://www.cobrasmarketview.com/2013/04 ... ay-update/

[Out of Bounds]

short 158.4

[MrMiyagi]

919.png (11.67 KiB) Viewed 2685 times

[joeynickels]

Looking at the tone of the discussion about long term vs day trading leaves the impression that the opinions of those with longer term perspectives are not welcome on this board. It seems to me that this attitude is rather short sighted.

Day trade is self explanatory, but what is long term? Is someone who looks ahead 30, 60, or 90 days a long term investor or is it only if one year or more? Is it not possible that one may take positions on weekly or bi-weekly basis but does so in the context of a longer term, however defined? Why would that person not be entitled to an opinion on this board?

There is always a lot of discussion and charts relating to Elliot Waves. Breaking news - these charts do not span one day or even one week. Should these and those discussing them now be banned?

A longer term forum would be helpful but castigating those whose perspective is not day trading and wanting them excluded from this board is unreasonable. This strikes me as promoting "group think". Is this really what readers of this board want?

Agree. Ilike to see a variety of perspectives. I think that most of the problem with gasprice's posts is that they seem to be written in sarcastic/condescending style that is perceived as demeaning to the idea of trading on shorter time frames. Since he pretty much posts the same thing every time I don't get much overall value out of his posts,but I don't see any reason to exclude him. Anyone who is really annoyed and doesn't want to see his posts can just use their personal filter and block him. I would also like to take this opportunity to thank the big boss Cobra and all of the other great contributors to this board. You can all be sure that at one time or another you have helped me.