Earlier today, I had to bury my final Grandparent due to the nationwide Listeria outbreak. There is no need for condolences, as I have all the love and support I need, but I wanted to let you guys know where I was during today’s epic trading session.
The late Elaine Babcock, or as we called her “Honey,” taught me many things about class and character. She was also responsible for teaching me the importance of saving money at a young age. She was the Grandma that would show up to birthdays with college savings bonds for gifts, a kid’s worst nightmare.
One sunny afternoon, many moons ago, I remember asking her how she became so wealthy, and to this day, will never forget her answer. She said, “You have to save your money.” As a young kid, I took this to heart for some reason, and started saving my money immediately and began to look forward to her savings bond gifts.
As I look back, she played an important role helping me manage my money at a young age. I’m sure she is a big reason why I chose the finance field in college, and the reason I started playing with spreadsheets at the age of 12.
To this day, I still collect savings bonds, and the values she taught me will live on and be passed on to future generations. To Honey I say, “Thank you for helping create a foundation in my life, you will be forever missed.
_____
Now, on to the market.
Today, before the services, I dumped my $DRV position as it appeared the bulls would make a bounce attempt. Here is my note inside 12631:
The move appears to have been correct, as the market sprinted higher into the close creating bullish hammers everywhere you look. By the looks of things, it appears the bulls now have the ball, and will make an attempt to run with it here. But, something tell me we are not in the clear just yet.
So what the next trade?
Well, I started buying $GOOG on Monday and notified that chat room to watch it today on a bounce. You had to love the spot on this move below $500:
I have a lot of homework to do after today session and will likely be up for hours going through 1000s of charts. If you have any actionable ideas, please feel free to add them in the comment section, I will do the same.
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Honey sounded like a great grandparent. Please be sure to pass that knowledge onto your kids. You can be certain the schools won’t and 90% of peer pressure kids face, isn’t about how to save money.
You were blessed.
I wish your grandma a safe journey.
Thanks Marc.
she died from listeria?
Yes, she did.
I offer condolences anyway…I remember losing one of my grandmothers who used to pack savings bonds in envelopes as well. It must be a universal grandmother thing.
God bless Honey! I bet the Lord has some heavenly savings bonds for her.
Sorry for your loss, but happy for your great memories.
Thanks guys.
Check this out from @Jaykza:
’98: http://chart.ly/yo3adrv
’11: http://chart.ly/fset57g
Happy Trails, Honey.
Sorry for your loss.
SMBL
that’s one strong stock
same, got out at 17.50, 100% cash now. Glad to hear you are handling things ok.
My chart shows AAPL to be a short term buy here, if the market gets a bid tomorrow, I may step back into that long maybe for a few hours maybe overnight…
Thanks RC for sharing. I will make it a point of passing on the honey advice to all my kids/young family members.
Sorry to hear of your loss. My grandmother and I were also very close.
Your simple and thoughtful words do her great honor, RC. RIP, Honey.
Having never known any of my grandparents, I envy the wisdom you received from yours. Best wishes to you and your family.
Condolences, from my family to yours.
picked up AGQ at 100.65 just a bit… just in case… looking for AAPL to flush out a lil more.. then I may pounce…
that bear flag scares me in silver. Looks like a good pickup so far.
so many bottoming tails on the futures, I’m just looking for a move to the 10dma, i expect rejection there…
R.I.P. to your grandmother RC.
Liking $WLT & $POT at thee levels
Sorry for your loss, Rage. Great post.
Im looking for the SnP to bounce off 1130, and fall all the way back to 1040..Black thursday type of thing…
I know she was very proud of you.