I'm not a naysayer, and it IS a bubble, or do you think stocks shoot up like that on no reason except euphoria? Hey, remember do remember to sell, cause in due time those stocks (IPIX and MAGS) WILL be at the point they started out. I don't have a position in any of them, and don't think there's shares to short on any of them either. Both also don't have options. So there's no way for me to play them.
DUDE do you think stocks shoot up like that on no reason except euphoria[/QUOTE] trend followers dont think, they just do remember do remember to sell[/QUOTE] thanks, I will try to remember that good luck my friend
Well, umm, you don't say! That's the whole point. Which is why this is probably why this trading style is one of the very few viable money makers over the years (which isn't to say it's 'easy'....well, easy to give up on maybe).
yeah since its a bubble we should stay away from it lets see, MAGS 12 to 40? nahhh, stay away, its a bubble
Dude you're too funny. You remind me of all the super investors and super swing traders of 1999 and 2000. They thought they were so great because they could pick up a copy of IBD and explain how they got into this interenet stock and that one at a low price. Problem is, they did not close out their positions properly since the stocks were "following a trend" until they collapsed. No offense but your strategy is equivalent of picking out a few low priced Naz stocks that have some fundamentals behind them and waiting. One of them is bound to pop while the others will barely move. The point is that you can throw out all your super swing trader thinking about MAGS. You are sitting on a momentum play from a very good price. Be smart, take your money and forget about it. You are not up anything and you did not make anything in MAGS, until you cash out. That stock could collapse to below what you paid for it in a matter of hours if some bad news comes out and the Naz momentum traders jump on it. There is no real trend, it's a bubbled up momentum play. Seriously, just step back and take a look at your posts. It's like de ja vu of the super bull investors from the tech bubble.
Bubble or no bubble, bull market or bear market has nothing to do with it. When a stock makes an all time high take a note , if the previous all time high was 250 days or more. Even better if it is first time all time high. Go back and test the system on exactly the years 2000-2002 and see for yourself. I have done a study of last 40 years of super performance.
in a way ... but if you buy stocks that make all time highs or 3-5 yr highs on the break out has anyone backtested to see what % of them go up 10 - 50 % etc as opposed to subsequently dropping 10 % ? I have no tradestration of the equivalent and thus have no clue as to how easy it is to test even with tradestation or its equivalent
by the way a little birdie tells me that Seykota employs all time high strategy of course the 25 year old career day trader crowd never heard of him TASR hit "all time high" in the $8 range in August of 2003 who got on board THAT train? ASKJ hit it in the $5 zone in Feb 2003 (see train comment above) RIMM in Sept 2003 (repeat train comment) etc etc time to wake up people to old fashioned trend following "its not my doing that makes money, its my sitting" - Livermore