Starting this week at the MM weekly POTW contest see your dreams realized, your hopes fulfilled and your fantasies come TRUE. It's here and the anticipation has become a reality. The 3rd Pick. Starting this week and this coming Friday and only on Fridays you will be able to make a 3rd pick. If you have exhausted your 1st and 2nd picks by Friday you now may make a 3rd selection to either pad your score or lead or to enhance your chances of finishing in the GREEN and to pull yourself out of the crapper. The only catch is the COST. There will be a penalty charge of 1% assessed against your final score at the close on Friday. Plan your strategies. It's here now only at MM's POTW WEEKLY CONTEST. The 3rd PICK!! It's true it's here! Tell your friends, tell your relatives, tell everyone. It's here!!
Portfolio of the week - 2007
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Originally posted by IIC View PostAs far as I'm concerned the economy is running on fumes...When the industrials weaken we tank.
I see nothing strong in the economy right now...And another thing...I think this whole corn/ethanol thing is a big sham...I'll bet my life that I never drive a car fueled by ethanol...Here are the top 4 groups over the past 3 months:
Tires
Fish/Livestock
Metal Mining
Jewelry & Silverware
Takes more than that to get me excited...Doug
Ethanol? LOL or lots of tears, depending upon whether or not you eat food. It will never power our cars in any major way; if you took the entire food production of the world, it would only supply 40% of USA's gasoline consumption. As for tears, your retail beef, chicken, and pork prices are all going to double this year. Let's see: $4.50 gasoline and $5 lb hamburger, but since these are removed from the CPI, we don't have any inflation!
Now if we really want to solve the problem, let's make diesel out of coal and have cheap food again along with low fuel prices. Is there any sanity in Washington, D.C.?
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Maybe we just feel it more in SoCall than other places...I was just reading this morning that the CPI is 1% higher here than the National average...although that is usually the case anyway.
I paid 3.69 for regualar gas 2 weeks ago and 3.49 last week...And I agree, this Core Inflation is a bunch of bunk.
Now, I'll admit that it was not very bright of me to hold my QID for so long...Fortunately I didn't Back Up The Truck on it...My original plan was to add...which I never did....But one thing's for sure...The minute I sell it the market will tank...Doug"Trade What Is Happening...Not What You Think Is Gonna Happen"
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Originally posted by skiracer View PostI had some yesterday. It needed garlic.
I don't see a devastating market crash of large proportions but a 200 point correction would probably be good for a continuation of this uptrend....nothing goes up without small corrections....although uncomfortable when they happen, are a necessary element to the continuation of the uptrend.
Yep, we're on the same page there, ski.
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Originally posted by IIC View PostNow, I'll admit that it was not very bright of me to hold my QID for so long...Fortunately I didn't Back Up The Truck on it...My original plan was to add...which I never did....But one thing's for sure...The minute I sell it the market will tank...Doug
The way I see it, it nay matters what price action does after you sell. Price always has the potential to make our stops look foolish, but defining risk and controlling it is what separates a good trader from Joe Average who lets emotion control the outcome.
Entry and exit are the only two things that one can control, so they're the only things that really matter, not your FA bias or your hopes or dreams or pessimistic expectation that when you do sell the market will tank and QID rallies.
Tell me to shut my trap, but I think your QID trade really is a good example of the strong influence of emotion on a trader's execution. And it's a great example of how great traders have the potential to "blow up".
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Originally posted by spikefader View PostWhere's your stop, Doug? How much pain will you endure for the position? Why endure that pain when the trend is clearly down and against you.
The way I see it, it nay matters what price action does after you sell. Price always has the potential to make our stops look foolish, but defining risk and controlling it is what separates a good trader from Joe Average who lets emotion control the outcome.
Entry and exit are the only two things that one can control, so they're the only things that really matter, not your FA bias or your hopes or dreams or pessimistic expectation that when you do sell the market will tank and QID rallies.
Tell me to shut my trap, but I think your QID trade really is a good example of the strong influence of emotion on a trader's execution. And it's a great example of how great traders have the potential to "blow up".
That's OK Spike...But I wouldn't exactly say I BLEW UP...My stop is at
-20% which would put it at about 45.65. It's not like I'm gonna go broke over this or even lose any sleep. I'm prepared to wait as I was when my own technical take indicated it would go down more....But thx for your concern...Doug
PS...I was just kidding about the market tanking after I sell...although that sort of thing does seem to happen to me."Trade What Is Happening...Not What You Think Is Gonna Happen"
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Originally posted by IIC View PostThat's OK Spike...But I wouldn't exactly say I BLEW UP...My stop is at
-20% which would put it at about 45.65. It's not like I'm gonna go broke over this or even lose any sleep. I'm prepared to wait as I was when my own technical take indicated it would go down more....But thx for your concern...Doug
PS...I was just kidding about the market tanking after I sell...although that sort of thing does seem to happen to me.
Gotta fly.
L8r, and good luck with it.
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Originally posted by spikefader View Postlol I wasn't meaning to infer that you blew up; I rushed my comments there sorry Doug. I know the position is small enough that you can still sleep and no matter what happens with it you aren't blowing up.....I poorly conveyed the thought that people getting stubborn with a particular bias can end up adding to a bad trade, perhaps on margin, then a strong trend in their face.....all of a sudden margin calls and an otherwise good record of executing well is tarnished.
Gotta fly.
L8r, and good luck with it.THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Originally posted by spikefader View Postlol I wasn't meaning to infer that you blew up; I rushed my comments there sorry Doug. I know the position is small enough that you can still sleep and no matter what happens with it you aren't blowing up.....I poorly conveyed the thought that people getting stubborn with a particular bias can end up adding to a bad trade, perhaps on margin, then a strong trend in their face.....all of a sudden margin calls and an otherwise good record of executing well is tarnished.
Gotta fly.
L8r, and good luck with it.
I won't be getting any margin calls on this one...I might be called some nasty things tho...It is in my wife's IRA...Guess I better be nice to her"Trade What Is Happening...Not What You Think Is Gonna Happen"
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Originally posted by skiracer View PostAw he'll end up a bum in the park if he keeps this up. A few more of these incidents and he'll be sleeping under an overpass by one of the freeways with a quart of Gallo.
When my son was little...Like 3 to 8...I had him trained to say he wanted to be "Chairman of the Board" when people asked him what he wanted to be when he grew up.
Anyway...I guess I ended up to be a "ToyBoy""Trade What Is Happening...Not What You Think Is Gonna Happen"
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Originally posted by IIC View PostActually...when I was in High School my goal was to either be a Hobo or a Meter Maid.
When my son was little...Like 3 to 8...I had him trained to say he wanted to be "Chairman of the Board" when people asked him what he wanted to be when he grew up.
Anyway...I guess I ended up to be a "ToyBoy"THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Originally posted by skiracer View PostIf you have exhausted your 1st and 2nd picks by Friday you now may make a 3rd selection to either pad your score or lead or to enhance your chances of finishing in the [/COLOR]GREEN and to pull yourself out of the crapper. The only catch is the COST. There will be a penalty charge of [SIZE=7][COLOR=red]1% [SIZE=6][COLOR=blue]assessed against your final score at the close on Friday. Plan your strategies. It's here now only at MM's POTW WEEKLY CONTEST. [COLOR=blue]
I knew it--just as soon as Ski said he'd take over from Peanuts. Now he's starting to charge commisions. "Skitrade.com"
lol
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