POWERFUL TREND DAY

Raul3 Wed Nov 13, 2013 4:51pm EST 2 Comments

I may have come into the day with a vision for lower prices, but all it took was a keen observation of the opening type to realign my mind to expect higher prices. Buyers drove higher from the opening bell, aggressively recapturing yesterday’s low, then its value area, then the gap, then the high, and finally ripped apart any semblance of justifying swing shorts.

This move came from deep in the pits of bear land, where they had finally gained some footing. There were traders much more established than yours truly, managing mountains of assets, who were intelligently positioned short into today. THEY.GOT.STEAMROLLED. The action was unforgiving, offering little by the way of rotation lower. I was away from my desk for most of the morning, which was okay, because my book was 95% long, like a surfer firmly positioned in the pipeline of a rogue wave smashing through shorts’ houses.

GOGO diesel you BEAST! This must have been what it was like to trade in the early dot com days, where solid story stocks ripped the tits. I was pounding the table to load the boat when GOGO gapped up after earnings. This stock has made me more pesos than any other trade this year, yet I only scaled a pittance, a mere 1/5 of my position. It was a sacrifice to the stock gods for their generosity.

Why not book more GOGO shares into this strength?

GOGO may be a hot ticker in the hallowed halls of iBankCoin and perhaps among the savvier twitter traders, but the general population is still well in the dark. The story is easy to understand, the audience is captive, and the stock is waking up. iBankCoin spoon fed the plebian audience a jumbo here. Tell your friends, the worthy ones only of course.

The chicken trade started working today, with PPC making a strong move. The reality is, almost everything is up today, and any long looks clever. But this is my chicken trade, and it will arise.

I heard this commentary a few times today. It went something like, “anyone can look like a genius in this market” and that simply infuriated me. Does the gung-ho Apple bull look like a genius? Do the conservative, risk-averse, underinvested PMs look like geniuses? Does Keith Sweat, rocking a 5 dong, 5 skort book look like a genius? Do the metal bulls? HUH?! DO THEY?! Haters.

THE FOLKS AT IBANKCOIN LOOK LIKE GENIUSES…all of us, even us minions. You should see the moves being made in 12631. These folks are finding setups and executing. A good lot of PPT members crushed the ONVO move. #WEAREGENIUSES

There’s a lot of fire talk around TSLA and the entire situation stinks of desperation. Obviously a major fire would be cause for concern in any operation’s core facility. But the media is being greased to hype this shit up, I love it. My Friday buys are still green. I have dry powder to buy lower, and I simply cannot lose with Elon Musk on my team. Only the government can fuck me, much like every facet of life.

If you are making solid gains right now do not discount your progress as luck or participating in an easy market. You have done well. You are picking stocks, perhaps chart setups, that you can tie risk into and you are executing. I applaud all of you. If you simply managed to refrain from shorting today you win.

Funny, I had one trade in the futures today, shorting the /NQ around 9:40am. We were butting up against yesterday’s value area high and I [kind of] had a signal to short. I took my position, took some heat, and doubled down per my pre-conceived plan. At this point I have 5 contracts on and I am looking to scratch out four of them for break even. I get the break even scratch then I book the final piece for a scratch also, after trying to get cute. In short, I got out of the way in a very lucky manner. That same trade could have gone max pain and stopped me out on five contracts. It hasn’t happened in a long time, but the risk is always there. This trade was all I needed to stay long in my port because I could feel the fear shorts had. I scaled my little GOGO piece and piled all the earnings and more into YGE. The rest is history as they say.

I have gone on way too long…victory lap complete. Eat well tonight, make love to your wife, for tomorrow we continue the fight.

THANK YOU PPT