Ok, so yesterday morning I was very long $SPY calls, stock hit $211, S&P blew through 2,100 and life is pretty fucking good.
I get cocky (master of the Universe etc.) and BOOM, crude tanks, Shooters in San Bernadino, Yellen opens her mouth, WTF just happened?
I am stopped out, giving me time to think, read a bunch of dumb ass perma bear tweets (no the sky is not falling , that is just rain) and MAKE A DECISION.
Never just sit there, do something! Unless just sitting there is the right thing to do.
Nothing as to why I am long has changed, I am in cash, so I get to buy back in at much lower prices,
I bought back in and behold its tomorrow and $SPY over 210 in PM trading, life is good again.
Until something or someone fucks with the Universe again, SNAFU. FUBAR.
Crude up this morning because OPEC is going to come to an agreement on firming up the price of oil. These cheating bastards have been killing each other since the year One, you REALLY think they are going to come to some agreement?
Uptrend confirmed today, Jobless claims, Yellen and AMBA numbers on deck .
Its nice to have a seat at the table.
Have a great day gang.
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trade’em well, mate
Uptrend confirmed? That’s funny. I think you will have the opportunity to “get back in” at a lower price…the LARGE daily gap at 195 would be a good target. I see no reason why that will not fill this year.
And, as fortuna would have it, that gap closure is precisely at the stop popping point of the 161.8 retracement.