I have not been day trading the Nasdaq futures today because I have enough on my plate with this big old book of leveraged longs. Unless we plunge again into the bell, I will continue laying on this bed of nails, staying very still. There are three primal instincts which might trigger when you body or mind perceive danger—fight, flight, or freeze. The market can indeed hurt me, financially, but beyond the confines of money it has no power over me.
All we can do is formulate a plan and be grateful to execute said plan with purpose. Becoming mad at the market or harboring negative emotions toward the way your favorite stock is trading is a recipe for stress which can snowball into anxiety and negativity. It won’t change anything, your positions certainly will not behave any differently.
I have three things going for me as we wrap up the week:
- There are signs of excess at the lows in the Nasdaq. This is shown as a buying tail
- The PPT is still oversold (this has already been made public)
- Mutual Fund Monday – maybe fund managers would prefer to wait out the weekend given the negative news cycle. That is fair. However, they have money to put to work, I think, and they will begin doing so Sunday night/Monday.
Plus look at this electric car stock ripping–Elon was a stud yesterday evening, fielding one question after another with fluidity. The best part was when he told everyone they’re not showing all their cards this time. There will be wonderful progress taking place inside the gigafactory walls and we can only wonder what is in store for the future. There is still a bid for growth, in short, despite Elon telling Wall Street he is holding back information.
I am still taking Tina out over the weekend, aka TNA, she will be my method of playing this PPT signal. A few of my options positions have been rendered nearly worthless but others still press on. I had a read on the open which suggested we would drive higher all session, thus I YOLOd some PCLNs early. It was a donation to the premium salesfolk.
Stay sharp this weekend, cut drinking and other pollutants off my midnight Saturday to ensure a full recovery for Monday trade. And shave your face.
I will have some theory up over the weekend for anyone who wants to use their brain.
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Raul, yesterday I cringed while reading your reply in the ‘Whole Paycheck’ post. You said “We all gone eat honey”. I provoked the same reply from you back in the spring, and we know how that turned out. I believe such declarations of intended gluttony anger the stock-gods. They believe that we mortals should be satisfied with the table crumbs & floor sweepings that come our way by their careless grace. Henceforth, maybe we are better off externally expressing ourselves in a humble manner, while secretly plotting to loot our enemies in the most merciless of fashions…. TNA FTW!
Gluttony is entirely tolerated if the proper sacrifices are made for the betterment of the republic. The harder we work, the luckier we are.
good stuff, except for that skrillex song…ew
Sure old skrillex tunes are a bit played, what are you listening too on the electronic front?