Thank You, Come Again

The market has been on a tear this week, and if you focused your energy and time resources on wrapping your mind around geopolitical conflicts and their effects on the markets, well, you may have wrongly positioned yourself ahead of this move.  There is no guarantee in trading, and there was no guarantee the consolidation would break higher.  There were clues…

The PPT flagging oversold

The NYMO hitting annual lows

The “excess lows” we printed in the Nasdaq

The constructive behavior of momo stocks

The natural flow of funds at the start of a month

And while these clues were building up, many of us built up longs and today I began harvesting my crops.  Harvest season is a swell time, reaping the sown oats and filling the tables with foods.  It’s a feast and famine lifestyle at times, this trading.  I still have some longs but I have reduced my exposure a bit ahead of tomorrow’s OPEX and perhaps one of the last fine summer weekends here in the north where the winds have already begun carrying a noticeable chill with them.

I would like to give a big shout out to The Option Addict, his call on X, a gain I just booked well over 1100% was a huge confidence booster while we navigated the curves of last week’s consolidation.  There may be some meat left on that bone, but I am more than satisfied with my portion.

Into next week, I like how WFM is shaping up and WUBA.  If it wasn’t for those pesky earnings I would like WB too.  I like the letter W, in short.

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