Blocking out the news flow is difficult but the blissful ignorance that comes from it is worth the effort. Remember if something is important, my well curated twitter stream will tell me. Better yet, the professionals inhabiting the many rooms of iBankCoin will tell me. Anything local will be filtered to me via family, colleagues, and friends. This frees my mind to focus on order flow and sustaining and growing my revenues.
Some days however, often after eating too heavy of a lunch, my attention span degrades by the minute. For that reason I mostly do not trade futures in the afternoon. Instead I usually read, stare out the window, or look at Tina Fey nip slip pics. Nip slips always get my a.d.d. all worked up.
Anyhow, today I closed green by 1.25% even though I was up a rock star 3% intraday. I scaled off a bit of YGE. I could afford to do so because I timed my entry perfectly. The market provided me 7% gains, you see, by the time we reached swing high. I will book that bread any day of the week. I now have a lower cost basis and as close to a risk free trade as you can get in the markets.
How about that AMBA? I couldn’t be happier about tossing my Zillow shares in the dumpster to fund my AMBA purchase. The old me would still be in Zillow. The dead fish action would result in me drawing faces on lemons with a sharpie and then tossing said lemons into my Blendtec emotionlessly. The house would smell lovely as I died on the inside.
Zillow speaks to the selective nature of our market. ChessNwine has been keeping this thought at the forefront of our trading mindset in his Weekly Strategy Sessions. As a matter of fact, he brought my attention back to AMBA too. I mean, it never left my watch list, and I am a total GoPro fanboy, but the reminder was a nudge on the shoulder if you will.
This AMBA trade has taken conviction. I am glad to see mine coming back online.
Earlier I said this is all an appetizer, so you may be asking yourself, “What’s for dinner?” Well my friends, LEDs are for dinner…and sloppy joes. 2013 is the year of the LED, they simply took the 3rd quarter off. I have been financing these sleepy laggards with high level SHOMPPERY and 12631 magnificence, but it is high time they come online. My top picks into the fourth quarter are CREE, RVLT, OESX, LYTS, RBCN, VECO, GTAT, and AIXG.
I like CREE the best as a company, RVLT the best as a young man’s speculative investment, and AIXG for their Germanic tribal nature. I am long the trinity and will buy more of both after I spank a few more trades for stand up doubles.
I joined Le Doctour in BALT today. I really just like the chart picture, you know me. He does all the macro stuff.
Everyone is complaining about the way /ES traded today, but I had one of my better days. When you have an idea of the context we are in, bobbing along the bottom with no conviction, you know to get the laser sight out and get damn good entries to allow you to get out before the things stalls and reverses. We are learning over here and making a little bit of money while we do so. From the high win rate comes larger position sizing and eventually scaling. Then we make the big bucks.
Ah yes, I nearly forgot the point of this post—Everything you see is fake. The dog and pony show in Washington over Obamacare and debt ceilings is all fake, jack ass es. Do you really think any of this really matters, really? I does not. The terror threat elevation right at about 3:50pm? Yes, fake. Syria, real and sad, but so is every third world where cavemen kill each other for the best poppy fields. Making noise about them is fake. I have nightmares about a war on our land all the time because of these pundits and the terror threat bullshit. Even some nip slips are fake. I know, horrible times we live in..
Fear mongering from the glass half empty crowd is dangerous. Avoid the losers who can’t drop it.If you enjoy the content at iBankCoin, please follow us on Twitter