[Chris Scoreboard Johnston]

I have tip toed around this for long enough. You are a complete idiot if you think a financial system failure is going to make you rich. Even if you were short the world, the brokerage firm your account is at will be shut down, the government will not have any money to make you whole, and you will be broke and unemployed just like everyone else.

However, you will be able to say you were right if there ever is enough money anywhere for a cocktail party to be thrown. The Fed did this not to bail out the market or the big players, they are doing it to prevent a complete shutdown. Why is that so hard for so many to understand?

So many people are too busy trying to have their end of the world predictions proven correct, that you fail to realize why the odds are so heavily against it. Do you really expect the Federal Reserve to sit back and watch financial armageddon happen without doing anything? You may want poor individual people to get screwed to make yourself feel better about your own situation, but collectively we all suffer if this happens. I personally do not want to see people’s lives ruined who were tricked by dishonest people into the situations they are in. I do not feel any elevated status when bad things happen to others that I avoid. Let’s face it, some people that do not deserve to be saved will be, it has always been that way and always will be.

Accept the way the system works and use it to your advantage. Quit trying to force it to meet your requirements. We are far from out of the woods, this is only one little step, which if it does work, will be one of the most brilliant moves of all time by a Fed Chairman. Please read in detail what happened, the discount rate did not get lowered yet, what occurred was something different than that.

[Chris Scoreboard Johnston]

I have tip toed around this for long enough. You are a complete idiot if you think a financial system failure is going to make you rich. Even if you were short the world, the brokerage firm your account is at will be shut down, the government will not have any money to make you whole, and you will be broke and unemployed just like everyone else.

However, you will be able to say you were right if there ever is enough money anywhere for a cocktail party to be thrown. The Fed did this not to bail out the market or the big players, they are doing it to prevent a complete shutdown. Why is that so hard for so many to understand?

So many people are too busy trying to have their end of the world predictions proven correct, that you fail to realize why the odds are so heavily against it. Do you really expect the Federal Reserve to sit back and watch financial armageddon happen without doing anything? You may want poor individual people to get screwed to make yourself feel better about your own situation, but collectively we all suffer if this happens. I personally do not want to see people’s lives ruined who were tricked by dishonest people into the situations they are in. I do not feel any elevated status when bad things happen to others that I avoid. Let’s face it, some people that do not deserve to be saved will be, it has always been that way and always will be.

Accept the way the system works and use it to your advantage. Quit trying to force it to meet your requirements. We are far from out of the woods, this is only one little step, which if it does work, will be one of the most brilliant moves of all time by a Fed Chairman. Please read in detail what happened, the discount rate did not get lowered yet, what occurred was something different than that.

[Chris Scoreboard Johnston]

no squeeze yet only up 150, but there are so many shorts out there ripe for the picking, if momentum does happen to pick up on the upside, you will see a moon shot higher when everyone scrambles to cover. I think it will happen if we take out the early morning high for the day today in the S&P, if not we may just go sideways up 150. Expirations are playing a role in intraday action today.

Impossible to know if the low is in, probably not. The problems still exist and the trend is down. I was just trying to warn everyone to sell strength not weakness in this enironment. In my 20+ years as a trader, I have never seen volatility like what took place this am between 4:30 and 6:30. My S&P futures trade exited on todays opening made 80 points in one day, unheard of!

Even you bears do not want the financial system to stop working, it would be a economic wipeout, and the Fed is now realizing that possibility exists.

[Chris Scoreboard Johnston]

no squeeze yet only up 150, but there are so many shorts out there ripe for the picking, if momentum does happen to pick up on the upside, you will see a moon shot higher when everyone scrambles to cover. I think it will happen if we take out the early morning high for the day today in the S&P, if not we may just go sideways up 150. Expirations are playing a role in intraday action today.

Impossible to know if the low is in, probably not. The problems still exist and the trend is down. I was just trying to warn everyone to sell strength not weakness in this enironment. In my 20+ years as a trader, I have never seen volatility like what took place this am between 4:30 and 6:30. My S&P futures trade exited on todays opening made 80 points in one day, unheard of!

Even you bears do not want the financial system to stop working, it would be a economic wipeout, and the Fed is now realizing that possibility exists.

[Chris Scoreboard Johnston]

no squeeze yet only up 150, but there are so many shorts out there ripe for the picking, if momentum does happen to pick up on the upside, you will see a moon shot higher when everyone scrambles to cover. I think it will happen if we take out the early morning high for the day today in the S&P, if not we may just go sideways up 150. Expirations are playing a role in intraday action today.

Impossible to know if the low is in, probably not. The problems still exist and the trend is down. I was just trying to warn everyone to sell strength not weakness in this enironment. In my 20+ years as a trader, I have never seen volatility like what took place this am between 4:30 and 6:30. My S&P futures trade exited on todays opening made 80 points in one day, unheard of!

Even you bears do not want the financial system to stop working, it would be a economic wipeout, and the Fed is now realizing that possibility exists.

[Chris Scoreboard Johnston]

This is exactly the type of thing I was warning everyone about Wed night. You cannot bet the farm on either side of the market when the market is that extended in the same direction. Obviously the opening is going to be wild, it remains to be seen what the whole day will bring. You need to trade smaller, not larger when volatility expands. If the average range size doubles, you need to trade half the amount you normally would to have equal risk. Do not plunge during these times, I can assure you in the end you will lose.

I was lucky yesterday in that my S&P system bought in at 1377, but I traded with smaller size due to the volatility that is at hand.

[Chris Scoreboard Johnston]

This is exactly the type of thing I was warning everyone about Wed night. You cannot bet the farm on either side of the market when the market is that extended in the same direction. Obviously the opening is going to be wild, it remains to be seen what the whole day will bring. You need to trade smaller, not larger when volatility expands. If the average range size doubles, you need to trade half the amount you normally would to have equal risk. Do not plunge during these times, I can assure you in the end you will lose.

I was lucky yesterday in that my S&P system bought in at 1377, but I traded with smaller size due to the volatility that is at hand.

[Chris Scoreboard Johnston]

This is exactly the type of thing I was warning everyone about Wed night. You cannot bet the farm on either side of the market when the market is that extended in the same direction. Obviously the opening is going to be wild, it remains to be seen what the whole day will bring. You need to trade smaller, not larger when volatility expands. If the average range size doubles, you need to trade half the amount you normally would to have equal risk. Do not plunge during these times, I can assure you in the end you will lose.

I was lucky yesterday in that my S&P system bought in at 1377, but I traded with smaller size due to the volatility that is at hand.

[Chris Scoreboard Johnston]

I urge all of you not to max out shorts right here, this has squeeze written all over it, wait for a bounce. Even the slightest bit of good news is going to be a 500 pt up day in the Dow. A sharp bounce will come, and that is where you should sell with both hands, especially if the commercials jump off the long side on that bounce.

This is hard to predict when the ranges are this wide, but I have seen too many people cleaned out getting emotional at just the wrong time. I would grant all of you that the trend is now down, but short retracements, not new lows in the indices or individual stocks or ETF’s. I will be exiting my longs on the bounce when it occurs, which are barely ahead now at this point as a whole.

[Chris Scoreboard Johnston]

I urge all of you not to max out shorts right here, this has squeeze written all over it, wait for a bounce. Even the slightest bit of good news is going to be a 500 pt up day in the Dow. A sharp bounce will come, and that is where you should sell with both hands, especially if the commercials jump off the long side on that bounce.

This is hard to predict when the ranges are this wide, but I have seen too many people cleaned out getting emotional at just the wrong time. I would grant all of you that the trend is now down, but short retracements, not new lows in the indices or individual stocks or ETF’s. I will be exiting my longs on the bounce when it occurs, which are barely ahead now at this point as a whole.

[Chris Scoreboard Johnston]

I urge all of you not to max out shorts right here, this has squeeze written all over it, wait for a bounce. Even the slightest bit of good news is going to be a 500 pt up day in the Dow. A sharp bounce will come, and that is where you should sell with both hands, especially if the commercials jump off the long side on that bounce.

This is hard to predict when the ranges are this wide, but I have seen too many people cleaned out getting emotional at just the wrong time. I would grant all of you that the trend is now down, but short retracements, not new lows in the indices or individual stocks or ETF’s. I will be exiting my longs on the bounce when it occurs, which are barely ahead now at this point as a whole.

[Chris Scoreboard Johnston]

They are just raising rates to a ridiculous price to avoid having to say, “we are not loaning any money for the moment.” Once the secondary market unfreezes, rates will go back down. They will in the mean time take deals at ridiculous spreads, because like Arthur said, “I’m not stupid, I took the money.”

There is so much emotion in here that results in one over-reaction after another. I had been debating leaving due to the overly negative forum this has become, but maybe I will take on the challenge of trying to be the one contra voice in here.

You must keep level heads to make good decisions.

[Chris Scoreboard Johnston]

They are just raising rates to a ridiculous price to avoid having to say, “we are not loaning any money for the moment.” Once the secondary market unfreezes, rates will go back down. They will in the mean time take deals at ridiculous spreads, because like Arthur said, “I’m not stupid, I took the money.”

There is so much emotion in here that results in one over-reaction after another. I had been debating leaving due to the overly negative forum this has become, but maybe I will take on the challenge of trying to be the one contra voice in here.

You must keep level heads to make good decisions.

[Chris Scoreboard Johnston]

They are just raising rates to a ridiculous price to avoid having to say, “we are not loaning any money for the moment.” Once the secondary market unfreezes, rates will go back down. They will in the mean time take deals at ridiculous spreads, because like Arthur said, “I’m not stupid, I took the money.”

There is so much emotion in here that results in one over-reaction after another. I had been debating leaving due to the overly negative forum this has become, but maybe I will take on the challenge of trying to be the one contra voice in here.

You must keep level heads to make good decisions.

[Chris Scoreboard Johnston]

I think you are too late to time the market, you had to sell itleast a year ago. Now you will just chase prices downward, and when you add that to the 6% it costs to sell including closing costs, I do not think you will be much ahead unless the biggest depression of all time hits. It could, but I am betting against it. Especially if you like your place and where you live.

Do not read those scare tactic articles from newspapers, most of those people have never made a dime, so why would you listen to their advice? I have made a nice living for awhile fading those people, as they are wrong a high percentage of the time.

Prices are coming down, there is no denying that, but for your scenario at this point you need a crash for it to pay off, larger than the early 90’s one. I think we are already down 10 to 15% at this point, you will probably take a 5% hit now from where you think you can sell, to where you would actually sell. Add that to the 6% cost of doing so, and now you are more or less the equivalent of anywhere from 21 to 26% off the top. We may go further, but remember, prices are rigged upwards not downwards, so you are really betting against a very strong long term upward trend, and hoping for a greater than 25% pullback against it. Odds do not favor that happening.

Many in here think it is different this time, and they may be right, but I am not one of them.

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