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Sure am happy to hear all the bearish thoughts.
Old trading saying: When everyone wants to give it, you take it. When everyone wants to take it, you give it.
This market has either bottomed or is very near to doing so. Next couple days will confirm.
Good luck all...... not even close to the bottom. Im doing some swing trading buying and selling for short gains but mainly out strpf, DQ, cnta,TTE, hive pay attention to what is happening overseas? Japan? China? Nope. I don't pay attention to any fundamental stuff especially the crap on CNBC. Another old saying...."beware the guru". I retired after 32 years as a technical commodities trader so its all about the charts to me. Primarily Elliott wave along with a few other indicators. Currently waiting for a 5 wave rally segment off recent lows to confirm a bottom has been placed. Lot of different ways to trade a market...this is just my way.
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"Shoot low sheriff, I think he's riding a shetland!" B. Wills
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Joined: Feb 2003
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Campfire Outfitter
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I lost so much money short term trading before 1994, you could get rich doing the opposite of what I did.
So I don't time anything since 1994.
I was investing in GOOG and AMZN 9 months ago at the peak, and I still am.
I have always been 10% in cash and still am.
What does it all mean?
If I am too dumb to trade, I will just buy and hold big tech.
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Campfire Tracker
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Google "elliott wave theory" for an overview The Elliott Wave theory was developed by Ralph Nelson Elliott in the 1930s. After being forced into retirement due to an illness, Elliott needed something to occupy his time and began studying 75 years worth of yearly, monthly, weekly, daily, and self-made hourly and 30-minute charts across various indexes.1
The theory gained notoriety in 1935 when Elliott made an uncanny prediction of a stock market bottom. It has since become a staple for thousands of portfolio managers, traders, and private investors.
Last edited by Westman; 06/21/22.
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Elliot Wave is a System conceived by Robert Prechter (sp) years ago. In a manner of speaking he’s a guru. Lasso Byrinyi developed another method for his use.
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Campfire Ranger
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Campfire Ranger
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You would admit that stock market fundamentals are different now that the Fed completely controls and manipulates the stock market? Sure am happy to hear all the bearish thoughts.
Old trading saying: When everyone wants to give it, you take it. When everyone wants to take it, you give it.
This market has either bottomed or is very near to doing so. Next couple days will confirm.
Good luck all...... not even close to the bottom. Im doing some swing trading buying and selling for short gains but mainly out strpf, DQ, cnta,TTE, hive pay attention to what is happening overseas? Japan? China? Nope. I don't pay attention to any fundamental stuff especially the crap on CNBC. Another old saying...."beware the guru". I retired after 32 years as a technical commodities trader so its all about the charts to me. Primarily Elliott wave along with a few other indicators. Currently waiting for a 5 wave rally segment off recent lows to confirm a bottom has been placed. Lot of different ways to trade a market...this is just my way.
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Joined: Feb 2001
Posts: 4,043
Campfire Tracker
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Elliot Wave is a System conceived by Robert Prechter (sp) years ago. In a manner of speaking he’s a guru. Lasso Byrinyi developed another method for his use. Not true. Prechter uses elliott wave and is noted for many predictions., but Elliott theory has been around since the 30's
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Campfire Outfitter
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Elliot Wave is a System conceived by Robert Prechter (sp) years ago. In a manner of speaking he’s a guru. Lasso Byrinyi developed another method for his use. Not true. Prechter uses elliott wave and is noted for many predictions., but Elliott theory has been around since the 30's True, Westman. Prechter was the one who revived it and wrote tomes on it. Without Prechter few if any would know or even care about the Elliot Wave. Elliot and Prechter are both gurus in their own right.
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Campfire Ranger
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Campfire Ranger
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JFC ol toot. When you got up this morning you never even heard of Elliot or Prechter until you hit google Elliot Wave is a System conceived by Robert Prechter (sp) years ago. In a manner of speaking he’s a guru. Lasso Byrinyi developed another method for his use. Not true. Prechter uses elliott wave and is noted for many predictions., but Elliott theory has been around since the 30's True, Westman. Prechter was the one who revived it and wrote tomes on it. Without Prechter few if any would know or even care about the Elliot Wave. Elliot and Prechter are both gurus in their own right.
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How accurately are Elliot waves?
Are they more predictable bears 🐻or bulls?
What wave is most important?
"Shoot low sheriff, I think he's riding a shetland!" B. Wills
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It took me many years working with a man that I consider to be one of the best ever at using Elliott wave to really understand that it is far more complex than it might seem. I am still not an expert but have had success over the years. I live with 5 and 10 minute charts and also layer in other technical indicators.
Are they more predictable bears 🐻or bulls?
What wave is most important?
Simply put, Elliott wave theory postulates that markets move in the direction of the overall trend in 5 waves and corrections, counter trend moves, are in three waves. So, both bullish and bearish moves are accounted for.
The third wave is generally the strongest.
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BTW, the absolute best at Elliott I have ever seen is a man named Avi Gilburt. Absolutely the best......
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Campfire Ranger
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Campfire Ranger
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What's the ten year yield today?
What is the European central bank doing this week?
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Joined: Mar 2010
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Campfire Ranger
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Campfire Ranger
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BTW, the absolute best at Elliott I have ever seen is a man named Avi Gilburt. Absolutely the best...... I follow Avi at Seeking Alpha He's been one of the more accurate analysts
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Not trying to be a smart azz, but I don't know and don't care. If it has an effect it will show up on the charts.
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Campfire Tracker
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BTW, the absolute best at Elliott I have ever seen is a man named Avi Gilburt. Absolutely the best...... I follow Avi at Seeking Alpha He's been one of the more accurate analysts and it's all based on Elliott wave and a couple other things.
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no one truely builds real wealth by stock market investing. don't believe me, ask accountants, ask people who actually made real wealth. They say only .6% of people have a million or more in 401k. stock market investing is mainly about investing for appreciation, its a hope that whatever you buy will be worth more than you paid for it. Why not invest for cash flow instead in other types of investments? worse yet is its likely your 401k investments are taxed when you take them out.
instead of timing the markets, instead of worrying about this or that hot stock. why not seek a true financial education? financial education is NOT taught anywhere in school. indeed academic types normally have notions of financial education that are quite destructive. My CPA differs grandly from your CPA and mine is very complimentary concerning my IRA and Keogh accounts and what they’ve built themselves up to over time with stock market investing. I guess I’m the only person who’s ever amassed any wealth via the stock market. Being an outlier ain’t all bad. it depends on what you define as real wealth. The IRA and keogh accounts aren't bad, an IRA can really be invested in anything. peter thiel a pay pal founder I think has several billion in his IRA, he invested his shares of paypal in it. Its not the account its the type of investment. most IRA's and 401k are invested in the stock market. like I said stats don't lie only about .6% of people have more than 1 million in their 401k. real wealth? 250k to half a million a year in passive income. this will take 5 to 10 million in golden goose funds to pull off most likely. If you or someone you know built a fortune of 5 to 10 million $$$ by 401k or IRA investing in the stock market. I personally want to talk to them!!! why because I want to know how they did it. because I can't find anyone who has and I have asked everyone I can think of who would know. from mortgage people who see others taxes to CPA's that do peoples taxes. the only people I see get wealthy in the stock market or those who are some sort of special deal like a private placement before a company goes public. or a public company's founders who take the company public Those people get insane rich.
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Campfire Ranger
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Campfire Ranger
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PayPal down from 300 last year to 72 now. Great returns there lol no one truely builds real wealth by stock market investing. don't believe me, ask accountants, ask people who actually made real wealth. They say only .6% of people have a million or more in 401k. stock market investing is mainly about investing for appreciation, its a hope that whatever you buy will be worth more than you paid for it. Why not invest for cash flow instead in other types of investments? worse yet is its likely your 401k investments are taxed when you take them out.
instead of timing the markets, instead of worrying about this or that hot stock. why not seek a true financial education? financial education is NOT taught anywhere in school. indeed academic types normally have notions of financial education that are quite destructive. My CPA differs grandly from your CPA and mine is very complimentary concerning my IRA and Keogh accounts and what they’ve built themselves up to over time with stock market investing. I guess I’m the only person who’s ever amassed any wealth via the stock market. Being an outlier ain’t all bad. it depends on what you define as real wealth. The IRA and keogh accounts aren't bad, an IRA can really be invested in anything. peter thiel a pay pal founder I think has several billion in his IRA, he invested his shares of paypal in it. Its not the account its the type of investment. most IRA's and 401k are invested in the stock market. like I said stats don't lie only about .6% of people have more than 1 million in their 401k. real wealth? 250k to half a million a year in passive income. this will take 5 to 10 million in golden goose funds to pull off most likely. If you or someone you know built a fortune of 5 to 10 million $$$ by 401k or IRA investing in the stock market. I personally want to talk to them!!! why because I want to know how they did it. because I can't find anyone who has and I have asked everyone I can think of who would know. from mortgage people who see others taxes to CPA's that do peoples taxes. the only people I see get wealthy in the stock market or those who are some sort of special deal like a private placement before a company goes public. or a public company's founders who take the company public Those people get insane rich.
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Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2021
Posts: 10,819 Likes: 2 |
no one truely builds real wealth by stock market investing. don't believe me, ask accountants, ask people who actually made real wealth. They say only .6% of people have a million or more in 401k. stock market investing is mainly about investing for appreciation, its a hope that whatever you buy will be worth more than you paid for it. Why not invest for cash flow instead in other types of investments? worse yet is its likely your 401k investments are taxed when you take them out.
instead of timing the markets, instead of worrying about this or that hot stock. why not seek a true financial education? financial education is NOT taught anywhere in school. indeed academic types normally have notions of financial education that are quite destructive. My CPA differs grandly from your CPA and mine is very complimentary concerning my IRA and Keogh accounts and what they’ve built themselves up to over time with stock market investing. I guess I’m the only person who’s ever amassed any wealth via the stock market. Being an outlier ain’t all bad. it depends on what you define as real wealth. The IRA and keogh accounts aren't bad, an IRA can really be invested in anything. peter thiel a pay pal founder I think has several billion in his IRA, he invested his shares of paypal in it. Its not the account its the type of investment. most IRA's and 401k are invested in the stock market. like I said stats don't lie only about .6% of people have more than 1 million in their 401k. real wealth? 250k to half a million a year in passive income. this will take 5 to 10 million in golden goose funds to pull off most likely. If you or someone you know built a fortune of 5 to 10 million $$$ by 401k or IRA investing in the stock market. I personally want to talk to them!!! why because I want to know how they did it. because I can't find anyone who has and I have asked everyone I can think of who would know. from mortgage people who see others taxes to CPA's that do peoples taxes. the only people I see get wealthy in the stock market or those who are some sort of special deal like a private placement before a company goes public. or a public company's founders who take the company public Those people get insane rich. Cummins I see your point but just for grins look at a chart of the DJIA values from, say, 1982 to 2022.
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Campfire Outfitter
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BTW, the absolute best at Elliott I have ever seen is a man named Avi Gilburt. Absolutely the best...... I follow Avi at Seeking Alpha He's been one of the more accurate analysts and it's all based on Elliott wave and a couple other things. Westman just for clarity sake when I wrote “True, Westman “, above, I was speaking of what you said as true. It is so.
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