How true, Trademaster J, how true!...But

Trade Master J said...
It seems as though you mind as well be blind looking at charts..,The market is making all time highs and you are looking to get short??!!! LOLWhere did you learn to trade anyways
7:22 PM

Very good point, Jam Master. However, I am sure I wrote somewhere in my blog that I was not going to just sell for selling's sake. And certainly I am not married to my position either. With that said, I do still feel the way I feel . Every trader has his or her own time frame. Mine is longer term. While i have been away from my charts for over a week (still studying for Series 7-taking a class...) I doubt things have changed too much in the world. One thing I did learn from trading on the floor for 7 years is this....THE TREND IS YOUR FRIEND. And, Trademaster, you are correct here. We are making record highs and it seems dumb to sell into rallies. However, I don't really think this is a HUGE RALLY with TONS OF VOLUME behind it. In addition, it is a long while since we have been up here, and the 11725 level just doesn't seem SO HIGH to me. Back then, I thought we would be at 15000! So, back to these levels...not really sure it means so much. I do think it's funny how we are at the highs while we are all so negative. But just funny, not wrong! NOW...If there was one more thing that trumped that great adage of 'the trend is your friend', it is this. LISTEN TO YOURSELF...NOONE'S OPINION MATTERS MORE THAN YOUR OWN!!! That GELLER-ADAGE is the most important. I have gotten out of too many good trades and not taken too many others b/c I let someone else's ideas get in my head. I don't let that happen anymore.

One more thing I want to say about this year's market. If you had sold the market each time it made a new high and bought it each time it made a new low, you would have done just fine. We have been range-bound all year. And, this opinion of mine wasn't "blind". Not in the least. I called this move up to the top when we reached the bottom. (SEE PAST BLOGS). I had been looking for places to get long for months now, and if you continue to peruse thru the past blogs, you will see that I did scalp on the long side quite a few times. That scalping is now done, and I wait for signals that we will turn down. Until those signal occur though, I sit on the side.

Good luck, and thank you for the posts. Believe it or not, I appreicate those "negative" posts even more than the positive "I think you are right" posts. They make me come back to earth.

Andy