That quote is from Jesse Livermore.

"When Tesla, the electric-car company controlled by Elon Musk, went public in June 2010, pricing its IPO at $17 per share, Jim Cramer, the ubiquitous and highly confident CNBC anchor, proclaimed on his show Mad Moneythat investors should avoid the stock at all costs. It was a “Sell! Sell! Sell!” Cramer announced in his typical over-the-top, over-caffeinated style. But he wasn’t finished with his diatribe, not by a long shot. “You don’t want to own this stock,” he continued. “You don’t want to lease it. Heck, you shouldn’t even rent the darn thing.” 

https://thespectator.com/topic/jim-cramer-versus-the-world/

Or maybe do your own work and not rely on somebody else's system? Just a thought.

Why are my posts being taken down? I thought this was a "Community"

Great spreadsheet, Matt!

(When bad things happen to good people.) Wow. We feel for ya' Steve. Something like that should happen to...nobody. Best of luck extricating yourself from it all!

This is a very complex subject and relates to Breadth Thrusts that have been studied by many great traders over the years and can be calculated a number of different ways. If you care to study it private message me and I'll send you some interesting docs on the subject.

Did a scatter dot plot of the Breadth Thrust that everybody was talking about this week. Guess where the recent Breadth Thrust started. Remember that sideways consolidation?

DigiNomadSee how complicated it gets? haha Junkie is right of course. But what anybody needs to do is paper trade their favorite indicators until they feel good about them and know exactly how they work. I think the most un-talked-about indicator is the Hull Moving Average. It does not lag and accurately helps you follow the trend. I use it in 9 and 20 Ma.

That has not been my experience. If you think that way it probably will make things even more confusing. I think most things are fractal. If an indicator works in one timeframe I believe it will work on any. Unless it is specifically coded differently. (I have some TOS indicators that are like that) But usually I like the daily timeframe for the trend, using a 30-minute timeframe with pos and neg divergence for entry.

Choose the main timeframe your trading, monitor for continuation of the trend and use a shorter one to get in and out...that's it!

Good points, Matt. And T.A. overload can become confusing when so many timeframes are involved. That's why I prefer a number of different indicators (many from you at BPT and others)  all in the same timeframe confirming each other. I will watch the 30 min for pos neg D and then switch to daily for confirmation and to monitor the trend. These are the only timeframes I use. Of course, this fits my style of trade and does not speak for anyone else. Thanks for all your hard work

I watch the SloSto 10,3 as my fav indicator, if stocks bounced out of BB and back inside, so much better, also other indicators that give O.B. signals we all on BPT know, neg D plus other indicators on TOS that I have accumulated over the years. Place Bear Call Spreads just above the highest day's high, with 5 strikes between, 100 open interest at least, the more the merrier. Monitor for continuation. If I expect a shorter-term drop (or rally) I will place a closing order at 50-% of the premium. I monitor SloSto for this. See CLX as an example. I like big names with a lot of O.I. Hope that helps.

I use credit spreads very simply. When I am confident of direction and that I can keep all if not most of the premium. That is it. Very simple. People make options more confusing than they need to be. Spreads in particular. Bear Call Spreads only over the last few days 5 strikes apart and holding...

Yes, I only trade credit spreads. Much safer, and more inexpensive than the underlying whether stocks, ES, or Vix. I can keep all my cash in Treasuries and since I am getting credit for the trade, I use zero of my own cash. A benefit to credit spreads that most people don't realize.

The first sign of this came this morning...

Funny!

https://quantifiableedges.com/an-unprecedented-breadth-trifecta-has-triggered/ 

Not sure if anybody here does this kind of math except me, but here it is. Breadth Thrust Thurs.

Talking heads bullish...Means a pullback is coming.