I must be stepping away from the market just as soon as the bell tolls to visit the local torture purveyor so let me impart you with some closing thoughts. Bull runs tend to feel best near their climactic peak. There are some names making big intraday moves today, they type of intraday moves we haven’t truly seen at any point during the V-shape bounce and subsequent floating island. These days were the norm for months during the closing months of 2013 and into the beginning of 2014. You would place out 6-10 out-of-the-money call option positions and two or three would make breathtaking gains. Even during the quiet periods of this year this type of action never lasted long.
This v-shape bounce is/was of the largest magnitude I have every directly experienced. It will carry aftershocks for weeks and months much like a proper earthquake. After all, the epicenter of the move has origins in Japan. Think about it.
You have to be expecting a pullback soon. The $NYMO registered its highest reading on the year a few sessions back. As much as it has been less effective at locating tops, it is food for thought. This is no place to press your bets all in long.
At the same time, smaller position size and some select exposure is essential to my style of trading. If individual charts brush off sideways/lower index prices in the weeks and months to come, then there will be spectacular gains left on the table from being completely sidelined. Build a risk profile and have some exposure to the ‘greatest bull market ever’.
My position count will remain lower than historic times and my position sizes are smaller than normal. But the trades will be managed with the same degree of execution. Now is not the time to loosen your play.
It is always a pleasure to run the headline on the best financial site the internet has ever seen. This weary traveler is grateful it was a slow grinder of a session.
Until tomorrow, I bid you adieu.
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“to visit the local torture purveyor”
Sounds like physiotherapy!
sort of is
Word. Good luck with – Ill go with dentist. Took a shot at TWTR here, looks like it is in a thin zone that it will not linger in, I figure its either a good entry or Ill be wrong in two shakes and get out.
I rode through earnings 1/2 size, and added a 1/4 piece late last week. I am leaving another bullet for lower and might need it.
This is a long term slow swing trade for me.
Raul your verses in the iBC scriptures are of the highest merit keep em coming!
gracias, totally will
save some $$ and sell YELP&GOGO
Who didn’t notice that tight pocket of momentum with a huge short interest?
It has attention in an otherwise dull market, why not wrap some risk into a trade on it?
hopefully the torture was relatively merciful, it was great to meet you. excellent blogs today headlining, thanks again.
it was mild, just not a big fan of sharp objects
Merci monsieur!
Wise words and I have to say it was a real pleasure to meet you in person!
Really hoping for there’s an iB part deux with you and your volume deciphering skills on offer.
the pleasure was mine as well, solid-fun folks to meet, agreed