Extreme panics to the upside are part and parcel of any decent bear market worth its salt. This one should be no different. Following a 20 percent decline over the past 3 holiday encumbered months, one should expect revenge trading like a motherfucker to take place — starting with tomorrow’s session.
The easy money will be made early and soon. I’ve concluded that I’d prefer to take my initial gains, move to some cash, reassess, and then press hard again. What this might look like to you, the unwashed, uncashed pleb, is me selling out of numerous winnings for 5-10% gains, watching markets continue to scream higher, and then barreling back in at higher prices. This is entirely acceptable behavior, given the recent “volatility.”
One must book profits and wait for confirmation of another leg higher. Just a few days ago, I was willing to bet one of my children on a sharp move lower and total breakdown in the semis. But that didn’t happen — fucked face. The market is filled with wondrous marvels and I do not know more than it.
I’m merely a large pirate vessel, floating atop the sea — wholly directed by the winds of fear and greed.
Early going, confirm the bullish tone by watching crude, crude stocks, HYG, SRLN, AMZN, and NFLX.
NOTE: A Capstone slot opened up. Book your appointment now and be told by Le Fly what you need to understand. High value for your buck, believe me.
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Crude set up long on Friday – got a half position …will add if takes out 49.22 today.
Birdbox really reversed that Netflix sentiment.
I lasted about 10 minutes. Bird shit blows.
WRONG. Birdbox was great.
Not great, but the after-hospital mayhem scenes were well done. But for NFLX, think of all the free publicity every time something goes wrong after Americans take the Bird Box Challenge and drive, run rapids, shoot shotguns, shoot pistols while blindfolded.
TQQQ GUSH. Will add TNA if possible. I’ll hold bear market plays NUGT IEF TLT, wait for them come back, been holding up OK.
Slightly bull by percent, 50% cash.
Thanks for all the profit: 28% in the last 60 days!!!
I used you as a contrarian indicator.
For example, on 03January you were too bearish, so I went long. You are expecting a feeble bounce. Then I probably will stay long a bit longer too. I loooove it.
😀
WRONG. you did nothing but order pizza to your basement apartment.
you did help me! I am not saying I do exactly the opposite, I basically read you and other bloggers to gauge euphoria and panic and when the sentiment chnaged
No one believes you — because you’re a shit talking FAGlord.
go back and read your own posts. You basically called the inflection points and for that I thank you! 28% without leverage….love it!
pacel5, here’s your chance. Where does your contrarian-blogger crystal ball say we end up this day, week, month or even year?
Do we have to wait until 2020 to find out?
I automatically ding people with “fake news” when they boast about profitable trades in the **past**.
Market will open higher and could easily sell off at the end of the day. If this happens, bull will be dead again. Maybe better wait and go long later in the day.
while energy provides support, they will try to bring down tech, if you are bullish i will wait Tues or Wed before adding to tech. I will sell my energy issues and tech into any strength.
It seems they quickly removed this commentary from CNBC replacing it with upbeat happy stories
https://www.cnbc.com/2019/01/07/central-banks-are-not-the-fixers-of-last-resort—commentary.html
They wisely took it down. Junk.
The ECB is great and the Euro area is fine WTF???
Buying second set of shorts. Tvix, tza,faz
Market does not bottom on Fridays but they do top on fridays.
BTW, block Buying on Strength from Friday rally
1) Gold
2) Investement Grade bonds
3) Gold
4) Treasury
5) Investement Grade bonds
6) Agency Bonds
7) treasuries
8) corporate Bonds
9) short term corporate bonds
10) midterm Treasuries
I was going to make a Lt Dan joke about the legs of this rally but then thought better of it.
Did you know Forrest Gump will be 25 years-old this year? Does that make you feel old?
No? Then hold onto your NFLX stock.
Thanks for putting a fine point on that. Many of those bearish trades have been making money on bull days. They are definitely catching a bid.
Looks like time to short oil again.