8 votes

Daily Trader Oscar Carboni Points Out Major Trend Lines Being Breached in US Indices : 04/19/2013

ESM13 Daily ... Breached
DJIY Daily ... Breached
Russell 2000 Daily ... Breached
Nasdaq Daily ... Breached
German Dax ... Breached
DJTY Weekly ... Breached
DJIY Weekly ... Breached
Nasdaq Weekly ... Breached
German Dax Weekly ... Breached
Natural Gas Weekly ... Rebouncing (!)

Fast forward at mark 3 minutes 30 seconds, straight to the charts :


http://youtu.be/c4PFxdDDsZQ

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"Stop loss" - bad advice

http://seekingalpha.com/article/727521-how-to-think-about-sm...

The first time: I was in healthcare, caught wind of the "Human Genome Project" when it was just getting rolling, and invested at $3 a share. When it got to $120, I wanted to protect my gains and put a stop loss at $70. THAT DAY the stock dropped TO $70, then turned around and climbed, over time, to over $300. Maybe higher, I quit paying attention. I knew in my gut I had been ripped off, but my husband insisted it was a crazy coincidence. :)

I worked in ophthalmology. Some of the finest ophthalmic equipment made is made by Bausch and Lomb. When they had a run of contaminated saline, their stock dropped to about $4, people saying it could put them out of business. Well, I knew that Pharmaceuticals was a TINY part of B&L, and snapped up a few shares. When they got back over $30, I put a stop loss in at $20. THAT DAY, the stock dropped to $20, then turned around and climbed... I was pissed off. I called the stock broker to call BULL BISCUITS on it, with my husband laughing at me. When the broker gave me back my stock at the $20 where they stole it, the market price was already nearly back to $30. My husband quit laughing.

We were not "awake" yet. We had already been wiped out in the dotcom bust, and I only picked up the B&L stock because I was absolutely confident that they were not going out of business. I turned around and sold my stock then and there and I have never put a dime in the hands of those thieves again.

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

Cyril's picture

Thanks for the insights,

Thanks for the insights, fishy. Well, have no worries, I'm not in the markets, and I won't before long. Not until sound money is restored, anyway.

To those who are, I'd say: well, you better watch out.

Don't space out. Not these days.

Good luck.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

BUMP.

BUMP.

Well, I can understand someone getting nervous with a little breeze coming to their house of cards.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Interesting.

Interesting.

Notice the respective lengths of the trend lines prior to their being breached for the last couple days (or last week) now.

What were the odds?

Impressive synchronicity.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius