TSX:TECK.A - Post by User
Post by
Falcon44on Mar 02, 2009 12:31pm
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Post# 15814084
Trading
TradingThe only thing to do here is try and get in as close to the bottom as possible, then wait for the stock to make a $.40 gain and get out, Stop losses are pointless, buy and hold is risky and will drive you to drink, (which isn't bad either)This is a day traders market now and nothing more. Hedge Funds control the day to day movements, Take Gold for Example, The huge run up made no sense what so ever, Just the Hedge Funds buying low and pumping it up, untill they see fit to cash in their millions of shares, then short the hell out of it while it's still topping. The ones holding the bag are the ones who believed all the hoopla on BNN on how gold is going to $1500 an ounce and bought at or near the highs. Now Gold is trading the opposite direction but investors are convinced this is just a pullback and average down, only to be wipped out when the Hedge Funds pour on the steam. reason being, they are on the other side, ie, Short side. They did it with Oil, and now they will short Gold down to where they feel the most damage will occur. This next leg down in the markets will be an ugly one, do yourselves a favour, learn to day trade and take the small profits out, and wait for your next entry,Good Luck