Yes, that’s me, under the stone, there. Actually, it’s what’s left of me after I burned up in a fiery husk doing the classic “buy at the bottom” move.
Now I just sit and wait as I watch my accounts draw down. Luckily, I don’t need the dough right now, so I can afford to play the longer game here. I still have about 10% cash left after deploying into a number of bounces over the last two weeks. I think those bets will pay off in the near term, and I may even take something off the table as a result.
But things continue to be insanely busy here, so one solace is I can only look at the market a couple of times a day. Yesterday, I had two sit down lunches with two completely different parties. Usually I can schedule around anomolies like that, but in this case, I just could not, and had to take both meetings.
Last week, I had to take two separate simultaneous conference calls. I’d never done that before, and last week I had to do it twice. Do you know what the level of difficulty on such a stunt is? First, you have to have the right equipment. In my case, I had my office phone on speaker and my cell phone in an earpiece jack. While simultaneously listening to both calls (one of which was playing in my right ear), I had to be able to “respond and mute” at a moment’s notice in order to speak to one or the other respective parties. I felt like a schizophrenic dj at a retro-70′s disco party.
I am looking at some long term charts right now, and $HUI is approaching a ten year monthly line right now (about 350) that looks like good support. But we can bounce at any time now, as we are ridiculously stretched below the 200 day EMA (almost 26%!!), and that means we are getting stretched to the utmost…
Hang in there, my friends. My next post will feature a phoenix.