Today was a day of atonement for me. The market opened, rejected Friday’s range and began exploring lower. At first impression, I am always a skeptic of early directional moves. I have studied many opening swings, and the higher probability course of action is a fade of the first move out of an open auction. Given the nature of today’s initial move, away from prior day range, initiative selling, and also given the nature of our current context, “Higher Timeframe Activity Pushing About”, I demonstrated a bit of patience.
Not, quite, enough, my friends. I initiated some fresh risk on the session in FEYE. It was sort of strutting about this morning whist wearing green trousers. This position is down a quick buck.
But that play was not the true atonement. My correction came in the form of Pandora, which I was stopped out of today. I rolled into more duration on this position last week, too soon, because I was emotionally invested in the trade. I had already made my mind up that I was going to be right with my Pandora long and would be pissing victory across the financial complex while listening to seductive R.Kelly hits. Becoming this invested in a trade runs the risk of going on tilt. I made a sacrificial sale of Pandora to right myself in the eyes of the stock gods. The cold, dead, probabilistic eyes of the market are now off of my ego and back to auctioning.
I say everything I love is dead hoping that one of my others can toe the line and pull off an incredible move. Maybe it will wham short sellers in the scrotum for old time’s sake. But, I accept that it might also decide to turn the wham hammer on its faithful operator, such is the fate of a trader. We become really good at staying calm while being punched in the face. Resist the urge to react, instead think, be limp, and conduct yourself as your preformed plans direct.
There is always a silver lining to a grim tale, and today it comes in the form of a magic potion I possess, one able of curing the world of their dreaded Ebola virus. TKMR is ripping stupid fast to the upside in this direction down tape. It has me questioning a whole myriad of other biotechnology ideas, even if their sector is under a bit of fire.