Monday, May 10, 2010
Sorry its a bit technical....
The Contrarian Trader: Weekly Review on Sunday
... No need to read, if no interest in Financials. It is someone that is selling services, but his cynicism is entertaining if nothing else..
Posted by techieman @ 08:26 AM (591 views) Add Comment
9 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. tom101 said...
Very interesting.
Cheers TM
2. techieman said...
np Tom, which bit did you find interesting? Thugs on Wall Street?
My advice to most folks is just be careful and stay in cash... But i suppose that does sound a bit patronising. I echo his basis stance - you could easily get absolutely obliterated in this market. Todays move back up this am in the S&P is a case in point. Its going to be interesting... to say the least.
3. techieman said...
Tom these charts might be of interest:
http://3.bp.blogspot.com/_TwUS3GyHKsQ/S-V6OydM3-I/AAAAAAAAFJk/N4HewIb2n9A/s1600/spx.png
and
http://4.bp.blogspot.com/_TwUS3GyHKsQ/S-dIbCTOyvI/AAAAAAAAFKc/BpxvCfw8dTQ/s1600/spx.png
for a [quite heavy] commentary see :
http://danericselliottwaves.blogspot.com/
Good Luck !!!
4. Tom101 said...
Yes that and the benefit of hindsight and how occurances happening in the past had so much meaning years later. So very obvious now!
I'm pretty confident i'll stay away from trading FX until my knowledge improves. I am pretty keen on moving a proportion of my ever dwindling savings into a couple of other currencies though. It seems to be very costly setting up forreign currency bank accounts. Do you have any recommendations by any chance?
Thanks for the other links
5. hpwatcher said...
careful and stay in cash
He is not explicitly stating that one should stay in cash, he is just talking about about the perils of shares i.e. when to get in and when to get out.
6. refusetobuy said...
He's short, so he's telling everyone else to go short.
Talks a lot about profit taking, but never mentions a loss. Either he's an amazing trader or he's just as much of a salesman as the wall street people he talks about.
He may well have the correct viewpoint, but the one thing that HPC has taught me is to look for the VIs.
7. refusetobuy said...
(All as TM says in his summary. Interesting video, if just to see the psychology of a trader)
8. techieman said...
"He is not explicitly stating that one should stay in cash" - well of course he's not. He is a trader, and selling services :-). He has said that he took profits (which is prob true) on Thursday on half his position and has some cash on the sidelines to invest. The point is the investments can be in long side or the short side via leveraged and non leveraged ETFs.
I'm not actually defending him (i dont subscribe to his service, although i do generally subscribe to his view). I just thought it was interesting.
He's not saying that you should stay in cash but i am! - Its gonna be volatile is his view, which i go along with. As i said me saying that might sound patronising ... and if so I apologise.
9. hpwatcher said...
I just thought it was interesting
I think he made some good points.
He's not saying that you should stay in cash but i am!
I have some cash, but it's losing value quite rapidly at the moment. It's best to diversify - safer also.