Although yesterday down bar was quite a monster engulfment bar; its failure to continue was quite disappointing. After reaching a new high, TZA could not maintain its momentum and instead gave me a red candlestick bar instead. Luckily, I got out with a profit because my trading plan demanded that I do not turn a profit into a loss.
Lo and Behold, right after I got out of both SKF and TZA with profit, the wind suddenly blew even harder against the tide of TZA. Meaning the market wanted to go up. Despite the bear pulling their supersonic wind blower to counter this festive wind, it could not turn the TZA red bar into a green bar. So, what should a guy like me do?
Since I like to be happy and festive more than being sad and despair, it is a no brainer for me to start buying up some party favors for the coming sail. Ok, I’m betting that there will be a sail.
Currently, I loaded up on AMRN, CCJ, DDD, LNG, MCP, SSYS, SZYM, and YELP and still have 40% cash.
What about the Euro-Zone nightmare? Geez, since there is no follow-up on TZA or SKF, I assume the general consensus think the market is overplaying the fear factor in the Euro crisis. Like the Fly said, why would the global G men wants another 2008 again?
Of course, all bet made in the stock market comes with risk. Therefore, if I’m wrong “again!”, my stop losses will take care of me. Yeah, I may give back a few percentage points in my YTD gain; but on the other hand, I may even gain a few more percentages as well. It is all about your willing to accept risk and return based on your personal risk tolerance.
Good Hunting!
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Do it
Already did. Only 40% cash left.
I forgot to type in YELP but I corrected the post to include it as part of my current portfolio.
Cheers!
Sold out all my position due to bad economic news. Currently 73% cash.