As horrendous as the news flow has been this week, I have these charts setting up something mint. If I continue playing ostrich to the news, which is the plan, I have setups galore. The market looks like a well-managed brothel and I am simply partaking in the services hoping the Feds don’t crash the party.
I bought WLT but the big story is the resurgence of LED stocks. Everyone wrote them off after CREE reported soft numbers last quarter. Yet here we go again, with these stocks ripping. RVLT is leading the charge as my book propels over two percent higher on the day.
I switched over to trading the /NQ as I mentioned yesterday and I like the pace of trade much better. I find I am babysitting positions less often. Instead I am trading in a stick-and-move fashion that better suits my fringe lifestyle.
FaceBook will not relent and I would quite enjoy seeing it go Nicola Tesla on these shorts. Being in a well-padded long, I see no reason to sell any.
Everything I sold continued to propel higher, so selling has been stupid. Look at MHR and YGE. Stupid. Selling is for stoopid folks.
Press the boot and sip cognac instead.
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