Re to: high "People could go broke following your advice. You handwringed through the ones, have been advising investors that $12 is the 2-3 year potential for GLW, and now this!"
Reference to total market, not GLW. I bought S&P on Tue, sold on Wed, and took profit. So today is down. Grabbed $1415 and it is cash. Would have a paper loss if had not sold and been holding over several days with no chance to get out. Not home today.
Since I am not trading GLW, only long, really do not care much were it is day by day.
"not GLW. I bought S&P on Tue, sold on Wed, and took profit" I did confirm I did not buy GLW Tues so therefore I must make up something that sounds intelligent. S&P???????? did I say that???????Let's see, maybe it was the S&P 500, maybe it was the S&P500 emini, both are futures contracts!! maybe it was one of the other S&P sectors???? Maybe I'm a complete IDIOT. *c_h_o_r_t_n_y*
LOL, HI; Chart recommended everybody set stop limits, waited until they stopped out, then picked their pockets for $1700. He's not perfect on day to day forecasts, much less long range, but pretty slick nonetheless. 'I'd rather be lucky than smart'.
Re to: indio "He's not perfect on day to day forecasts, much less long range, but pretty slick nonetheless. 'I'd rather be lucky than smart'"
In my view, if one can win more than lose, and have gains greater than losses, then beat the system in total. I can look at one or two cases and not prove anything. But: I started in Nov 1998 afetr retiring. My year of trading is Nov to Nov. I have been better than 50% gain per year each of the four years. This past ending, had 55%. With this last one on Wed, I am up 2.81%. Usually try to make little quick gains and spend most of my time with trading fund in cash. Really just a fun thing.
No one else cares how I do it so I have no competition in my system. I have mentioned it to some investing people and they usually say someting like, you are doing it backward, and going against convention or intution. Results seem to not matter so I just go along my merry way.