This was the 3rd major conviction day in the Russell since the October lows. Breadth was on fire today, scoring the highest ADV/DEC read in over 2 years. Volatility came in, the Russell led, the Yen was parabolic, TLT sold off, and TWTR was flat.
It’s been a challenging year, and I’ve given back all my gains I had earned. Even if the sun, moon and stars align, even if Santa brings me a rally, or even if my Joe Jacobsen turn date comes as planned….I’m still playing for breakeven at best.
I haven’t been willing to trade against my convictions, which is something I am determined to work on moving forward. Despite being mentally and emotionally drained, I’m still relatively in tact here. I’m ready to put this year behind me and get back to a more productive output for the time we’re investing here.
In closing, I hope everyone is wading through the speed ok. I don’t root for anyone to lose, but the later part of this year has been filled of a whole other element of hate and anger in the comments about who’s right and who’s wrong. I’d rather wave the white flag here and start getting back to a more productive group think. You assholes wear me out. To the others, thank you to those who constantly fill the stream with ideas. That’s why we’re all here.
I’m purging my watchlists tonight and will toss some fresh ideas out here tomorrow.