hurry hurry! Let's buy something! Not so fast in my opinion. We already booked a 11% winner this morning by anticipating this rally. Believe it or not, many traders lose money on big rally days...what? WHY? because they always trade as if they are "missing out" and start to chase performance and over trade their accounts. OuCH! brings back bad memories. Trust me on this one, the biggest gains come on the days following the big rally. let the eager beavers trade this emotional drama. We will sit tight until tmrw and WE WILL BUY WEAKNESS on strong stocks.
Patience....
7 comments:
lol, love your picture and your story. Thanks
Ha! You and everyone else. Traders have been buying the dips for 2 months! The trade has been to buy the open - and fading the close has worked until just recently when everyone figured it out. People will (and should) continue to buy weakness until it doesn't work, I agree. I know you are flexible with your plans based on market conditions and I know you'll adapt regardless of what the market throws you. I predict buying weakness (and lower opens) won't work much longer (maybe til end of week) either. We'll see.
Now's the chance to buy weakness...will it be the right trade, that's the question...
bounty: we are short here. Nothing to buy. We gapped up and pooping. Buy weakness was if we gapped lower and play the reversal. Today we gap up and we are short via TZA. we had SDS earlier and sold it for small gains...wish i held longer! Small double bottom on VIX. bears turn to take charge for a bit.
Awesome Stewie. I was missing the gap lower part of your strategy from your post. Guess that's the benefit of your service! :)
bounty. i cannot reveal too much on my bog any more out of respect for the people that are paying. I mostly play the open and the close. When i talk about strength and weakness i am usually referring to the open/close and very short term for day trading events. I do not make long term projections for the markets.
bounty: looking thru many charts i am telling you, this bull has done run it's coarse yet. this freight train is going up.
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