Friday, May 28, 2010

Anything Is Possible: Have An Open Mind











Hi guys,

Running numerous scans tonight. I am seeing more and more bullish setups. In my humblest of opinions and i know this is a bold call, a very bold call, I am just asking you guys as traders to have an open mind and do not count out a big bounce from here. I know it sounds ridiculous and i can hear many of you laughing right now. But come on guys, this is the stock market and we ALL know that ANYTHING is possible. You cannot rule out possibilities. The minute you rule out scenarios or possibilities, then you are cornering yourself into a category and set yourself up for emotional trading. Having an open mind is the KEY to survival in this game. How many times did you tell yourself, "this is not possible" only to come back a few hours/days later to realize that it was POSSIBLE. Have an open mind. In the the most bearish of market, rallies can and do often retest highs, slightly exceed or slightly fall short of retesting the ultimate highs.

All i ask is is this: HAVE AN OPEN MIND. that's all.

2 comments:

gamingthemarket said...

Keep in mind LULU and NFLX are heavily shorted. This is a handy scan to watch for breakouts which is often just short covering:

http://finviz.com/screener.ashx?v=111&f=sh_avgvol_o1000,sh_relvol_o1,sh_short_o15

gamingthemarket said...

I forgot to mention SEED is a perfect example. It gets an upgrade by a small China focused firm firm and that's enough to cause a short covering rally. This might be a good model for LULU, NFLX, and other squeeze plays.

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