I’m in an idea rut for my trading account. A short while ago I was gung-ho about steel and oil, but then I got bored of it and sold it all, save AKS. I took a position in BLCM, which is doing fine today, and also a hedge in SQQQ. I sold SQQQ today for obvious reasons — booking a 9% loss in the process. I know, now that I’ve sold it’s gonna go straight up. But only supreme assholes of the first magnitude think like that. I had a plan and I schemed. Now I have a 9% loss.
Truth is, betting against bull’d up markets are hard. Exodus flagged overbought two days ago and that is an even better indicator for continued strength in the market than our oversold. Reason being? Momentum tends to beget more momentum. Look for the market to strengthen over the next 5 trading days.
I am mostly cash in my trading account, sort of unsure about where I want to invest. It is times like this that I am grateful for having a systematic approach in my main account. The money is invested, has been invested, dictated by rules I set forth, controlled by robots. Perfect.If you enjoy the content at iBankCoin, please follow us on Twitter