Many traders are understandably becoming even more frustrated with this market than they have been over the past few days. A promising rally this morning has been fading all day, and we are back to flat going into the last two hours of trading. For the record, I am still long all of my positions, and I will hold them until my stop losses are breached. I believe the risk/reward profile is still in my favor to the upside, despite what all of the geniuses on the twitter stream would have you believe.
To drive home a point: I have an opinion here. I have placed my bets, and I am willing to accept the risks associated with making such bets.
Perhaps some of you superstars have a 1000% lifetime batting average, and will laugh in my face upon the occurrence of an old fashioned crash (or “panic” as it were, prior to 1929). Such is life.
Now, you can go back to saying “OMG OMG OMG OMG!” every time crude oil ticks down, and the Yen ticks up.
- LONG: 56% ($AAP $NR $NTAP $LULU $CRM $THOR $APKT)