iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,304 Blog Posts

STOP THINKING: BULL MARKET TRADING

If you think for more than 10 seconds, you’ll never buy a stock again. There is nothing redeemable about the market, other than the fact it goes higher every day.

I turned green on all accounts in spite of some really negative pre market pin action and now stand before my audience with gains of the ribald nature for the month.

I’m only slightly leveraged here and view my gains as 5% houses month. Meaning: my risk tolerance is high because I can afford it. Because of this, I’m not hedging or being careful. I’m good enough to react after the fact if need be. As far as I can tell, this is a bull market and I’ll trade is like that until it stops.

We should trade down today — but that’s doesn’t mean I’ll chase it lower. I might just press the envelope and bet on another ramp, as bull markets tends to surprise to the upside when you least expect it.

Bottom line: now is not the time to be scared. That comes later.

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One comment

  1. purdy

    Good spot to try a short on gold right here …on its move half way back to Wed highs.

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