As I type, prices are at the crest of another delicious and powerful V-shaped bounce…nothing short of incredible. You have to trust your robots during these crazy times because they have no souls. Instead they only want to gobble up data and goat spit out high probabilities.
I tried something as stupid as fading the /ES_F today with a short. I sat around too long because it started “working” for me right away. After that, it closed in on me, squeezed me, never rotated lower at all, then squeezed me again. I cried uncle at 1704 taking a whopping 8.75 handle loss. What that trade essentially did was say, “take those 6 winning trades in the /NQ and shove’em up your ass.” I had six winners, zero losers in the NQ. It was boss, you should have seen it.
You knew I was huge RVLT into today so you know I am happy today is playing out like this. RVLT V-shaped too, only it provided exponentially larger gains then the indices. Huge win here, I had to scale it back down to a 10% position as we inch closer to earnings. I will ride a position into earnings, but nothing too huge. CREE played well today too, and I bought some LEDS to compliment my LED collection.
LO printed fresh 52 week highs today—we knew this day was near. It goes higher, much higher. The inusrty is chasing their vapors as they sprint ahead in the eCig industry. You have to love the first-to-market advantage.
Everything else is noise until we see some real action. Cash is still about 25% until we get through this stupid week of Washington nonsense.
Stay cool out there—we are in opportunity city so dust off the losers and keep moving.If you enjoy the content at iBankCoin, please follow us on Twitter