Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Shifting with the wind- from the gale of $NUGT to the gust of $INO

It was quite a strange morning.  The leaves were wavering a little harder, the fallen leaf flew a little further out, and most important of all, my eyes were bombarded by flying tiny debris such that I had to squint to see what kind of wind was blowing my way…

Being in a twilight state of consciousness, the winds formed into the shape of an animal… and the horns looked familiar… OMG! they were bull’s horns.  The image was like a slow motion replay of a bull stampede scene  you saw in Lone Ranger movie.  Because they were winds, the bulls ran right through me as if I was merely a shadow of the nearby tree.  From my vantage point, I could see the burned mark on one of the bull.  It was branded at $INO.

The gust of $INO was getting ready to stampede!  I immediately checked the price.  It was printing over $1.30 by the time I checked the screen.  I could sense this move had a malevolent tone and the desperation in the price action was quite palpable.  Without hesitation, I clicked on the buy button again, again, again, and again.  The fills were completed in a stair-step fashion with each fills higher than the others.

Then I wait.

Price action did not falter.  Not only did price action take out the yesterday high, it took out $1.50 resistance.  And for that, I added more.

By day end, the gust of $INO has taken my position to $1.68.

The interesting part about my hitching the gust of $INO today was that I was just getting off the gale of $NUGT.  $NUGT’s gale had taken me for a ride from the bottom of the valley to the top of mountain where I could see the $100 roll dangling outside my reach.  There were magic involved for I had started off at low $5.xx at the beginning of the ride.  Out of nowhere, the ETF master flipped the wand and I was seeing $98.xx!  As I reached out to the $100 roll, the gale suddenly dissolved into a tepid breeze and I was left standing at $89.6x.  So much for the $100 roll.

Without missing a step, I’m now riding the gust of $INO.  How far can I ride this gust?  Will it even head in the same direction tomorrow?  I sure do hope so.  I could feel the energy.  I could hear the crying.  I believed they were the cry of the shorts being squeezed.

Holy Cow!  The Gust of $INO might just continue to fly straight ahead on the back of the short-squeezed runaway…  YEOWWWWEEE! The pain!  The pain!” uttered the shorts…

My 2 cents…


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