Originally Posted by Vanity
I hear you brother. I'm bitter for sleeping in today, such a dumb mistake! I was down -12% after waking up, read your post, so grouchiness might have come through my post.
I did understand your point, I just read it the wrong way. I thought you were discouraging small traders from trading/contributing, because that entrepeneurial spirit to learn finances is something I love fanning into flames.
Understandably, I'm frustrated at the moment trying to decipher this see-saw action from the last week. Hrmm. Right now it looks like the bulls may be making a push upwards to break 1335, and maybe the markets will rally to 1350-1380 before pulling back (like R0wr suggested). I almost thought we'd lost momentum after SPX futures hit 0.5% retracement level and got rejected from 1346 after the spanish bailout failure. Any ideas you have on direction? With a large investment portfolio yourself, you should contribute more!
I still think if we had to breakout to the upside, the spanish bailout and futures moves were the best time for it. Why re-try almost a week later? Possible backtest before fallout?
Thanks for understanding. Obviously, my post was too abrasive. My bad. Definitely not here to start internet arguments or put people down.
I have a more Warren Buffett style (although I'm not able to move the market when I speak or have nearly enough money to buy Kraft and just enjoy the dividend). That said, I have no idea where the market goes ST. I do know 90% of the funds out there are bull funds, because the bulls will always win given enough time. I am a bull for this reason, but when the market seems tenuous, I get out. I don't short.
I mentioned my 85% cash position because this market seems too iffy at the moment. I am waiting for an opportunity to begin building positions. Having too much cash is also stressful, as you know. It pushes you to get into something too quickly at times, even if the time isn't right.
I encourage small investors to get started somewhere. We all did at some point.