Greed has set in ovah here. I have been nailing great entry points on a number of names, only to see my profits fade like the wind. I know better. I am normally quicker to the trigger, but for some reason, I want more.
Just the other day I caught a nice rip in $FIO, only to see my unrealized gains disappear. Today, I nail a beautiful move in NUGT, only to watch that turn into a small loss. Just a few minutes ago, I was looking at a heavy gain in $BCOV, now, not looking so heavy. I know better.
Problem is, because we are oversold, I wanted more. Greed. Well, mother market showed me yet again who is boss.
I wish I had some trading ideas for you here, but I have nothing. I hate to give you short ideas only to see the market rip here, and hate to give you long ideas only to see more blood.
Cash is still king, which is why I hold a bunch of it. Let’s see what happens in the final hour, I’m still leaning for a bounce.
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You ever pick up any $VHC?
nope, missed by bid this morning. But, looks right here.
Perhaps it’s not greed. Could be it’s not that you wanted more, but given our oversold conditions, you expected more. Expectations are killers, I think.
And so, from Alexander Pope – “Blessed is he who expects nothing, for he shall never be disappointed.” A motto for traders?
indeud. Well stated.
You’re entries have been ace. This market is afternoon nasty.
ha, “your” before the grammer police attack
Having a similar problem over here. This too shall pass.