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SPDR Dow Jones Industrial Average Message Board

  • zencowboe zencowboe Dec 16, 2008 4:21 PM Flag

    Money managers are desperate to keep their jobs.

    So I believe they are running up the market to dress up their portfolio for 4Q and 2008 year.

    I have a feeling that market will trend sideways through remainder of the year and tank in the first 1/2 of Jan/09.

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    • Good job. Every trader's book I've read (12 of them), they all point out the fact that the only ones that will win in the end are those that can carefully manage the loss. This is so true!!!

      Can you believe I have nearly 80% winning record in the past 7 months, but my 20% losing is bigger than 80% winning?

      I really need to learn how to lose better...like you. :-)

    • It wasn't that long ago that DIA was at $96. The close on 4-Nov-08 was $96.21 followed by $86.46 just two days later.

      The low volume and fear in the market makes this sucker wound up real tight and ready to explode in either direction on the least bit of BS news.

      Very scary. Too scary for me to be in a position for more than a day or two. I might lose out on opportunity but I don't want to get painted in a corner either. I'm happy waiting for the open and then move on whatever news comes out. I'd rather nibble on small moves than get eaten alive by the big ones.

    • This is a tough market because it often trades in tight range and makes wild swing in such a hurry that unless you are in already, it's hard to get in afterwards.

      I picked up some AAPL at $88 and I'm thinking of shorting GS.

    • Question - I'm short at $88.16. I can get out now at $89.30. Would you hold until tomorrow or bite the bullet and take the loss.

      • 1 Reply to rain_proof
      • I know it never feels good to hold a losing position, but this market is heavily manipulated and hasn't proven that it can break and hold above 9000 in the past 6 weeks, so my recommendation would have been to hold it.

        I don't make empty recommendation. I actually sold the DIA call options and bought put options towards closing. Good thing for now...Dow future is down ~76 at near midnight (EST).

 
DIA
170.88+0.11(+0.06%)Aug 29 4:00 PMEDT

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