Let’s see if anyone is paying attention to all the auction logic I’ve been providing.
MULTIPLE CHOICE Once a market establishes value, and barring an external force changing it, what do you do?
A. Buy below value, with intent to sell at/above value
B. Short sell above value, with intent of buying to cover at/below value
C. Eat tacos
D. All of the above
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I’m going w/ C. Taco time…
) D
D. Assuming confidence that the market is in balance and the tacos have guacamole.
chop and tacos
D
Is 30lbs burrito an option?
Given the right circumstances, yes
The correct answer is you play whichever side is your bias, and you don’t chase. In my case, having a short bias, my job today was letter B. Considering it was a Tuesday, option C is also acceptable.
On a personal/psychological level, my problem with actually doing “C” is that once you start down the road to a high cash position, it’s really easy to just sit there in cash during periods of high chop. If you’ve got no value at rosk, why not take a week off, a month off… too easy. Somewhere between “be fully invested in every market at all times” and “Screw it, I’ll sit in cash for the better part of a year” is a happy medium, and the thing I’m struggling with is where that lies.
But that’s not my problem, not the readership’s. Suggestion to be addressed at the conference, blog post, or for others on the main page to banter about: what do you do when your bias is unclear, and you’ve spent a few weeks eating tacos while watching you, OA, and fellow Pelicans kill it? My brain says “D” but I find myself doing more of “C” than is wise for my own good.
But that IS my problem, not the readership’s. A-Game fail!
I like option D.
I will only scalp for 4-5 points if a trade is against my bias, but yes, if there is room to do it, might as well.