These morning markets, I come to them every morning. Much like The Zen Hunter alluded to about surfers, it’s an obsession—every day hunting waves to ride.
I put up these profiles, looking for where the waves can kick up. Boy did a wave kick up today! I have wins on both the long and the short side, easily my best day ever, earning 10 S&P points. It was fun too. And I stuck to the plan all but once. My one deviation, an attempt to knife catch that free fall, was my only loss on the day. So be it. Stick to the plan or lose money.
Anyhow, that’s why we do all this work, for days like today. They’re calling this the blow off top already. I’ll hold my judgment for now, but I did cut my RGR and YELP longs in case the afternoon gets a little Nightmare on Elm Street.
Let’s look at these stocks and see what’s working.If you enjoy the content at iBankCoin, please follow us on Twitter