Crikey, I knew if I put Martis in the cranker, I'd wind up having to wade through the deluge of male fan mail on the thread...late at night...after work...paying off my debts.
I'm riding to work these days, I figure with the savings in petrol, I'll be able to pay off a RIO share in a month...So when I stumbled in tonight - having survived another midnight ride along Murderers Meander and Rapist's Ramble in Kings Park - I crossed my eyes when I saw the size of the thread....
and, a group of big tough blokes sitting in a circle, cross legged with Disco in the middle with an empty box of tissues. Martis was quick to join hands with Disco and give some fatherly empathetic insights.
Even saw Mitta with a slightly moist eye.
Haven't the Baby Boomers come a long way.
But - it's a great thing XJO'ers.
Yesterday was one of those days when we heard a lot of philosophical one liners. Those days happen from time to time. I think they are valuable times when the experienced pass on stories of the scars and memories of the battles won and lost.
I've rounded up a few goodies
Tales of the unexpected
'You can see the market physically climbing a wall of worry - (forget the XJO - its a market where tails wag dogs).' CAYLUS
'My barometer is that satisfaction glow and the pressing need to open a bottle of Grange. It's usually predated by a constant checking of my portfolio balance several times daily and that smug inner feeling that I am really smart .That's a massive sell every time.' PISCES
'I'm not going to bore the XJO thread with a stock, but imo Disco it may be an advantage for your trading success if you learn how to play the game, it's not all clear cut and smelling like roses all the time, there out there to take your money' MITTA
'This kind of volatility is for the professionals mate... leave it to them, and in the meantime wait and try to build up your cash for when things either (a) calm down, or (b) do a martis, in which case we'll be buying CBA and RIO for 50%-off firesale prices.' PIOTRVIP
'The market will always be there so you dictate to it what you want to do and when you want to do it , don't let it dictate to you' PISCES
'My name's Stu and I'm a Tradeaholic.....I admit I should not be in this market'DISCO STU
'And to add a little more..over the decades i have become ice cold ... if i make a dollar or lose a dollar ..there is no gloating..i just go on to the next trade..
My first bankruptcy..was due to adding good money after bad on a large short position...lost my house and first wife...
Just to add a little more..over the years i have met many people asking me questions on how to get rich in 6 months..lol. My answer to them was.."try robbing a bank"..'MARTIS
'I'm not going long at 11500 tonight, although I believe 13000 is an optimistic target by the end of next year. It's no GFC IMO.' FLUFFYNYMPH
'One thing I've learnt about women, despite my limited experience, is to not let your woman see you drunk and messy and sloppy. Each time they do they lose a little bit of respect for you... unless you're going out with a party girl in which case its the opposite...'PIOTRVIP
Which brings us to our man of the day, and expert in the trade.
* * * JGUNTER * * * Going out on a limb Wednesday
'I'm going to go out on a limb and say that the market is going to rally from here. Oz $ has dropped sufficiently (ironically because it looks like some weak kneed foreigners sold out this week) to cause an Asian influx of cash to our market. I think the Italian downgrade will give a kick up the butt to the Europeans to do something concrete about their issues and I think it will force the Americans to do more as well.
I expect QE3 to be announced this week together with a maturity swap for US bonds (swapping long for short term bonds) to force players back to the market.
I think martis is generally correct but I think his C wave won't hit until after March next year.'JGUNTER
Jgunter, I hope i have helped you out onto that limb with the thread cranker.
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PS Hairyback - I'm up for a beer. PSS Disco - You are extremely funny.
(20min delay)