Raising My Guard

When the /NQ busted loose to the downside I was working an offer trying to board the short bus.  The market simply would not pull back enough to allow me entry into a short.  When I finally did get my short on I was taken for a wild, spine twisting ride higher.  I doubled my short and booked a small gain on the double down and close the initial entry for break even.  At that point, given the velocity of the marketplace, I turned Elroi the trading algo on and went out for chicken.

The more I trade the better I am at having awareness that my edge is dull.  The action today is better suited for my emotionless robot to trade in a very average manner.  The algo may not take any trades or may take some very average gains from the market, but it beats an emotional me executing orders.

I have CREE earnings after the bell.  My position size is smaller than what I carried into last quarter but still meaningful at about 6% of my portfolio.  There was chatter online that CREE is interested in buying RVLT.  I hope this doesn’t happen because I want to see RVLT grow to become the most successful retrofit company in the United States.

I have not felt the urge to swing any shorts this entire summer/fall until today.  Where the market stands, I feel like I need some hedge action so I started buying FXY.  I love the consolidation we are seeing on the weekly chart and should we see risk fly off the table some of it will find its way into the Yen.  Plus there have been big moves kicking up in the currency markets and they have my interest.

It seems the macro picture is morphing a bit this week.

Of course, should the cocaine get dusted over the market again I will likely be back on the chase.

ADHD is failing me and next to go

GOGO needs to shape up

The chicken trade is not dead yet.  May it arise and smash the doubters.

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