Halloween is not until Friday and today is Wednesday aka FED day. I expect, and hope to see stocks trade sideways until the meeting, I actually prefer the market to be down leading into the decision.
There’s no need for the market to fly at the open, this will only bring the sellers out, aka Devildog. So, we want the market weak right here.
Remember 9 out of 10 times the initial move after the meeting is a headfake so be prepared for it.
As for me, I will likely nibble on some more W&T Offshore, Inc. W&T Offshore, Inc. [[WTI]] and wait for it to “goose-step” higher. Then, I will wait for the FSLR’s report and watch it “goose-step”” in after hours. Then, I will go home and show the future wifey how one man’s account can Goose-step.
Remember, weakness is bullish here.
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Didn’t you guys get the memo that the 50 bp cut was already priced into yesterday?
I thought you guys were stock traders. Sheesh!
USO on fire, i suggest you look at WTI right here.
Just broke opening range.
Solar breaking out!
remember the 2 under $4, JASO & YGE.
not anymore.
My strategy is a few trades at a time. Right now I am holding X from 30.78 and I have moved my stop up to 33.50. I will be gone for most of the afternoon so if that gets taken out I plan to sit on my hands for awhile. Like the charts today, for now. Any new trades will be with very tight stops.
you the man RC!
The battle of the WERE under $4 solar stocks.
YGE 4.8001 +0.5901 (+14.02%)
JASO 4.49 +0.37 (+8.98%)
YGE takes the lead. up 20%+!!
OK, while I was at lunch X hit 33.51, one cent above my stop…lucky me.
dr. a word of advice — don’t set “obvious” stops. I may be nuts, but .50, .25 are too commonly set. Remember, a stop is protection, but you want to avoid it getting hit. The more common the stop, the more likely it is hit.
I use stops like 33.47 for instance. It is a negligible amount of added loss, and it helps. At least in my experience.
my 2ยข
should be Danny, not d
WTI bustin loose here.
JASO on fire!
Note: Portfolio in Goose-step mode!
Initial move was right. Look at that 5min carnage. This market is fucked. I’m still all cash every day with no take homes. Not even LDK at $15 which is rediculous, but so is this market. If it’s 15 now it’ll be 10 later. That’s my thinking until we get more than a 1 day rally.
Peace and hair grease.
I don’t care if it ain’t Halloween yet, I say we TP Bernanke’s house tonight and leave a flaming bag of shit under the bridge where Cramer lives and watch him stomp it out. On Friday I bet we’ll see the villagers chase Paulson back to his castle with torches and pitchforks, Frankenstein-style.
I love this time of year.
Good stuff, Cajun. Congrats on your hits.
Danny raised a good point about stops. I set mine tight @18.60 on UYM, only to watch it bounce off of that with both middle fingers in the air. Do you guys set stops any differently on these levered ETFs?
Thanks.
RC,
Of all the beaten down energy names why pick WTI? Is it pure technicals that differentiates this name in your mind?
Thanks