Micro Managers Manic Over Every Move

The coal trade is never an easy one. The government wants to eliminate them; West Virginia wants to stick a pole through their heads. It’s a constant ebb and flow; but the direction of the primary trend is lower. My JRCC trade is dead. However, due to the extremity of recent gains, I’ve opted to hold onto it, just to see what happens.

Many traders are viewing this tape second by second, clamoring for a pullback. They view any downtick in the tape as a sign that we’ve topped. Therefore, validating their own stupidity to remain cautious. Well, you can do that if you like. However, you’re missing out on one hell of a gamblers paradise.

Quit your micro managing and trade the tape.

Stiff pullbacks are underway in AAPL, TSLA and a variety of momo stocks. Some of my momo plays are weakening too, which gives me a bit of pause. However, I have a lot of cushion after the last week of unbridled advance. I’m also “re-excited” about the move in ARG. I am in for the $100 roll and will sell it north of $104.

In short, go eat a sandwich.