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Hi to all:
Sorry I don't have always time to read all very interesting posts. I just
noticed that I was part of some of some the last ones.
Furst I must apologize : maybe may English sometimes do not express well my
thought. I guess that you understood that this is not my native language.
Nevertheless I stick with the word BEAR to caraterize the stock market. I
recognize that my definition of a bear market may be simplistic: it's a
market that makes lower high and lower lows. The Euro is for instance in a
strong bear market and you could safely sell the rebound this morning. The
S&P and the Nasdaq are clearly in a bear market as well. I have no idea when
it will end (even if I think that it will not be before the uncertainty about
interest rates is over, but that is of no help) and I don't care very much.
BEAR is not a four letters word to me and I don't see why it should be. The
day the Euro will reverse course I will lose money but it's very likely that
I will not give back the money that I have made since I started to short the
Euro. The point that I wanted to make is that It's much more conformable to
trade with the trend. I am in this business since 1972 and trading with the
trend allows you some mistake while trading against the general trend does
not leave any room for mistake.
I guess that I also missed an another post because when I read about 70%
successful trades I wander what's the profit factor. One number without the
other is not a useful information.
Good trading to all.
Jean Jacques
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