8 The time has come to blog a little here. Last week on Wednesday I was asked to blog, but was pretty busy with my day job and couldn’t do, but today I have to blog.
Market is at the cliff, forget the fiscal cliff of US Government, I am talking about facial cliff for the longs.
We have reached the critical mass and just like nuclear reaction we are exploding or imploding, whichever way you call it.
There were plenty of signs which lead us into this. What signs you ask? If you don’t know you should not be trading. Forget about the talking heads, news, facial cliffs, elections and other BS – look at price action – this was a biggest tell (of course Fly blog last Wednesday was another major tell).
Last Wednesday was a turning point for me – I sold most of my longs, many at loss and started building a short position. I didn’t know for sure, but all of the indicators were there (at least for me).
Trading or investing is really not about what you trade (as most retail believes), but about HOW you trade.
You can make money with any stock at any time if you are on the RIGHT side.
I was the biggest long for 3 years straight, but I have never forgotten 2008 – a trader doesn’t grow if a trader doesn’t learn.
I know many of you come to read these blogs, specifically The Fly blog to find out what stocks he picks and try to ride them. I am here to tell you – YOU CANNOT TRADE LIKE FLY, only he can. What you can do is get his feel for the market and trade accordingly, because if you did exactly that you would be winning.
Previous Posts by Mr. Partridge
8 Responses to “Market – 14/11/12”
Baron the Barbar, Saint Clause, Herzog upon Wynnsor
It’s a bull market, no?
Calling that at the last handle tops!
You ought walk a silent path of shame instead of chest pounding.
Mr. Blowhard?
Mr.Partridge
You are confused young man or a woman or ..
there is no pill for that 🙁
flyaway18
Good post and you said it best with your comment on Fly’s last blog: you have to have cash in this bear market. I’ve nibbled very small and gotten pole-axed by the action. Best to wait for the DUST to settle lol. The best traders are also the ones who know when to change direction when a trend changes or sell and sit it out.
inandout
What Signs ??? =)
Hello there Mr. Partridge and Val
I think I read you bought VXX before Nov 7 not sure though.
flyaway18
The day after the election, Mr. Partridge said, it’s time to sell into strength, Obama got what he wanted and so did the Bernank, we’re looking at a bear market. If memory serves me right, he has shorted the miners and gone long bullion a couple of times in similar market situations. Gotta give congrats where due!
inandout
Good Call I would not have had the stones for that one especially Vxx lol.
Mr.Partridge says:
November 5, 2012 at 7:55 pm
Anyone wants to play the dark side with me through TZA and FAZ mobile as election might be a huge flop…
Look look I can be crazy too
Listen if 3 people having a hard time getting along in blog comments what are the chances president can be elected?
Mr.Partridge
Thank you, you remembered.
I did offer, didn’t I?
No position in VXX though, don’t like that ETF … still holding TZA and FAZ, but main short position is DUST, a lot of DUST 🙂
Mr.Partridge
EDZ lagging, only matter of time though