As predicted by The PPT, the market is bouncing. It’s bouncing because it reached a stress point that has resulted in past success. HOWEVER, as it pertains to me, previous success is not indicative of future performance. Hence, as such, I am being dismantled.
Observe how this is playing out; it’s quite sublime.
I sold out of TRLA and JAZZ yesterday and both are sharply higher today. Instead of putting the money to work, I opted for cash.
My largest position is down 9.5%, with hardly anything to hedge it since my longs are tepid. BALT and RBCN are up, but barely. NSTG is up, but on low volume.
Now I can go out there and do two things.
1. cut my losses on ALJ. This seems like a reasonable course of action. However, it is very possible that the lows have been seen in this stock and it might go sharply higher in the coming months, as spreads improve.
2. Start new positions to try to make back current losses. This is the traditional course of action, one that has preceded many losers throughout the generations.
As I am presently situated, do I really want to do this?
As I write this, the market is up and I am down 2.2% for the day, making this week a -10% showing for me.
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I just added to $ALJ. Stubborn.
You now when your dog chases its own tail?
Get out of everything.
Divergences all over the map.
My SSO is back to green….shoulda got in a little lower.
Sometimes we just have to wait for the market to get it right.
would/will you add to a loser (ALJ) sir ?
im itching to add
Don’t do it.
I bailed completely, too much weakness.
There are better setup/winners for next market move
what say you good sir,… about winners ?
HTGC and NOAH have worked well for me past months on dips.
HTGC is past a smokin earnings report
NOAH still has one to go
i do like NOAH, on my watchlist, thx
There has been a boat load of buying throughout October though.
trading nymph was about five years too early.
have a short going on smh.
with apologies to ee cummings.
Five years the bubble was forming, I was just so surprised that no one stopped it. OK Kerry has landed, that Iran Oil Sanction deal should be coming soon.
Maybe just dont trade for the rest of the year.
Maybe just dont trade for the rest of the year.
Deacon Fly, there must be some sort of sin in your life – tucked away…festering, causing these calamities. Some might say “repent”, but as a reformed Pentecostal, I’ve found that switching my socks from one foot to the other, usually has a positive impact when things aren’t working. I’m not kidding.
I’m going to have to try that. thanks for the idea.
Fly, one ought to be cautious despite oversold conditions as the sentiment spread is around 40! http://www.schaeffersresearch.com/streetools/market_tools/investors_intelligence.aspx