Whether or not bulls can pull off another V-shape rally to new highs remains to be seen. But what we can say with certainty is that the selling in growth names and other leaders in recent weeks has been unlike anything we have seen since 2012.
The highlight of the past few weeks in the market for us has been sniping short sales while avoiding major drawdowns. Covering shorts to lock in hard-fought gains and then moving to a highly defensive cash position earlier this week puts us in a spot to objectively reassess the true strength, or lack thereof, of this market next week.
Losses in other names were religiously kept to a minimum, inside our 12631 Trading Service, which @RaginCajun and I direct.
I can assure you that a membership to 12631 is well worth its price over the long run.
The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.
Please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price.
Also, be sure to catch my next Weekly Strategy Session. Please click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.
See you there.
Have a great weekend!
Have a good weekend, Chess. You displayed epic winship, for sure. Maybe you have a deluxe, celebratory cigar lined up? Most definitely deserved…
Thank you, Unc. Enjoy your weekend.
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“Each one of us here today will at one time in our lives look upon a loved one who is in need and ask the same question: We are willing to help, Lord, but what, if anything, is needed? For it is true we can seldom help those closest to us. Either we don’t know what part of ourselves to give or, more often than not, the part we have to give is not wanted.
And so it is those we live with and should know who elude us. But we can still love them – we can love completely without complete understanding.
Now nearly all those I loved and did not understand in my youth are dead, even Jesse, but I still reach out to them.
Of course, now I am too old to be much of a fisherman, and now of course I usually fish the big waters alone, although some friends think I shouldn’t. Like many fly fishermen in western Montana where the summer days are almost Arctic in length, I often do not start fishing until the cool of the evening. Then in the Arctic half-light of the canyon, all existence fades to a being with my soul and memories and the sounds of the Big Blackfoot River and a four-count rhythm and the hope that a fish will rise.
Eventually, all things merge into one, and a river runs through it.
The river was cut by the world’s great flood and runs over rocks from the basement of time. On some of the rocks are timeless raindrops. Under the rocks are the words, and some of the words are theirs.
I am haunted by waters.”
~ Norman Maclean ~
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… great video, chess !
One of my all time favorite films !
Thank you for posting !
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Respectfully disagree Alf. Don’t care much for the actors and emotionalism. To each his own. Like your poem though.
Sorry, it’s not a poem.
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Won an Oscar for Best Cinematography !
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Nominated for Oscars in …
Best Adapted Screenplay
Best Original Music Score
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Great cast !
I think it was great movie !
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Good man, alf.
I will vouch for the service. I paid for 12631, PPT and Option addict all upfront all in January. The rooms offer a high degree of professional interaction. Actionable ideas are vetted and vetted. I have been a financial planner for 23 years and this has been a fantastic learning opportunity for me.
Chess emphasizes loss mitigation and I see it in action. Thank you for facilitating this think tank for trading.
Thank you, Todd. Very much appreciate that.