Around 3:20pm, I sold three longs around S&P 1512-1513.
It was a slow reaction to a predetermined level. Recall the recent past, my frustration with getting chopped. I think I brought this frustration into the trading session today. Even though I set the groundwork premarket, using my clear morning mind, I waited to pare down longs until several handles below 1515.75. In hindsight, I see the active seller easily dictating price the entire session. I have excuses, like getting pulled into a meeting. My VPN went down also, forcing me trade VFR. And as frustrating as that was, the connection has been spotty since last week. It should have been corrected over the weekend.
I had a minor victory however. I had buy orders lined up for RGLD. Whether or not that trade pops tomorrow morning doesn’t matter. It was a late play after a series of deviations from the plan. If you’ve been following along, I also missed my scale in CCJ. That means I have to eat KRO chicken instead of WFM.
I suppose that’s my observations of my performance.
It was a delicious and powerful countertrend move. Come on, something had to be done. The 2013 rip has been massive! I can’t imagine being Scott Bleier during this, blowing gaskets. However, it is only a countertrend liquidation so far. It could be the start of something bigger. However, diligent and methodical observation will tell us when that’s the case.
I plan to correct going off track much like American Hero Lance Armstrong who was and always will be a legendary athlete and cancer ass kicker:
http://youtu.be/RtZhG2kWVLY
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“Come on, something had to be done. The 2013 rip has been massive! I can’t imagine being Scott Bleier during this, blowing gaskets.”
This conjures up a mental image of a crimson-faced Scott Bleir shouting obscenities into his web cam as he watches the market honey-badger its way to 5 year highs. I hope for his sake we get a steep and violent crash soon. If today was just a headfake before another leg higher I fear for his health
His health will remain tip-top, but his disbelief will reach 52 week highs.