I’ve never seen so many knife catchers in my life, and yes I’m guilty of it. Mother market has conditioned us well over the last year to buy the dip, and that’s all I’m still seeing.
I have slowed down my trading big time inside 12631 over the last week, and opted to scale into a few positions that I wanted to own for when we come out of this mess. I refused to get chopped up, buying and shorting stocks frantically.
Well, scaling did not work. My scales in TWTR are now underwater and have a cost basis around $47. My AAPL buy was stopped out for a 13 point loss. And, just when I thought SPLK couldn’t go lower, it did. I was stopped out of it as well.
Now I’m almost back to cash with two bloody positions in FSLR & TWTR. I lost discipline, and in turn I lost money.
This tape makes it easy to lose discipline. As My man Randad said, big men are getting fitted for a size small.
I am a big mother fucker 6’4 weighing in at 240lbs of straight mass (I also own two investments in gyms). Right now I am wearing a size small.
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Rant over. This post alone should give a good tradable low. Just buy the dip.
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in terms of rotation, i think this is Chess N Wine’s time to shine.
He’s the most boring of the main iBC characters (no offense, just stating an opinion), but he’s been killing it in a prudent fashion as the rest of us have suffered.
I don;t find him boring at all. He is a beast with the 3x ETFs via NUGT amongst other things.
He is the most discipline trader I know, which is why I understand the comment. Now it’s alpha for him.
The anti-hubris effect! Yeah, there aren’t enough oversold names across the board to warrant me taking a bunch of equity positions, but I would have been remiss not to punt attempt on the ones that are, ie, $FEYE $SPLK $AMZN, and will look to add $NFLX $SINA and others if this continues, all via calls. Meaning I’m willing to lost a bunch of my “investment”, not the end of the world, and I can give them some time to work themselves out without having to monitor.
Anti-hubris indeed. Look at the market find footing here.
we all wish..’ more disciplned’
this too shall pass !
This post marked the low, no worries.
As I asked inside 12361…it marked A low…but THE low?
PPT hit OS as well, good for a trade. I doubt we are out of the woods yet.