Amidst some afternoon whipsaws and headline risk, we had another good day of discipline inside our 12631 Trading Service today, which @RaginCajun and I direct here at iBankCoin. If you enjoy my work, then I’d encourage you to click on this 12631 hyperlink for more details about joining.
Enjoy tonight’s video, and enjoy your evening.
Bio tech ended up being the strongest sector today…from my analysis…is that wrong? any way I am surprised that BMRN ended up be only 3% up after a FDA approval for Vimizim the day before..what do you think is the reason for the small jump? thanks Chris
Chris, IBB did get faded off that $213 level. However, you are correct they were impressive relatively, yet again.
Chess,
I love these summaries. I’m self employed and mostly just swing trade, but the things i’ve learned in these summary videos are priceless (i mostly lurk around here).
I can’t reiterate what you said about being disciplined (and not being stubborn) more. Today, I thought was going to nail a bounce on VJET (before the report came out), it was working for a bit, stalled and started dropping. I got out with a point loss and didn’t look back and ended up having my best day of the month by being nimble and taking what the market was willing to give.
Personally, I think we’re just going to move up and down in this channel for a while as i think there are as many people afraid of missing the year-end “melt up” as well as those wanting to short everything.
For me, my approach is to try to nail some patterns in specific stocks. For example, YELP has been amazing the past few months from low 60’s to low 70’s. I’ve been being patient and just taking these types of patterns and am not afraid of missing the big break or the big breakdown.
Finally… those 3d stock charts are something else!
Thank you very much. Great to hear you did well by staying disciplined.
Your photographs and illustrations are impeccable.
Thanks, mojo!
Re Oldvwsrule comment. I completely agree w much of what u said. Market is shaky now. Bears r hungry as bulls. More so. Market is begging for a correction. Reminds me a lot of ’99. U can feel it in the air. Chinese solars blew up in our face. Unlike my compatriots I chose to dump them quickly and moved on w only a small scrathch. Looks like we r playing YELP the same way. Today I day-traded GMCR four separate times after-hours for ridiculous bank, down market be damned. Just have to be sharper more flexible. Cannot let the ego drive your trades. If it’s not working it’s not working period. Thanks to all the guys here at IBC. Great community. Great advice. Peace, E
Thanks, E
Absolutely loved the market recap. Very helpful.