In a holiday abbreviated week, markets certainly gave us bang for our dollars. I had some difficulty dealing with the chop on Monday but quickly adjusted my position and did what I always do best: follow the trends.
I don’t teach people how to trade. It’s a waste of my time and yours. But for those who are moderate to good at trading, hear this.
At some point the market will DEMAND we retest the lows. You cannot contemplate it now because MUH FED and MUH RE-OPENING OF THE ECONOMY. I’ve done the homework and we’re looking at 3 months minimum of harsh economic conditions. What we’re boring witness to now is on par with a video game. This is merely a parlour trick to give society something to hang their hats on. Happy Passover and Happy Easter — markets surge the fuck higher and everything is going to be ok.
No it isn’t.
Timing is everything and the past week was a bad time to be short. It doesn’t make you wrong, but stubborn. Heed what I am saying to you — it’s always better to fade the opening rip than guess on the next day’s direction.
I closed out the week on a 26 for 26 winning streak, still going strong. Roughly 45% cash, heavily long dividend paying consumer staples all trending higher.
NOTE: If you want to read about how I traded the dot com disaster and how I got fucking wiped out, for new readers out there — I wrote two books on the subject.If you enjoy the content at iBankCoin, please follow us on Twitter