This final week of summertime has been fruitful thus far, and I am harvesting more of the work from last week. I am happy to report my wins are outstretching my losses nearly 3-to-1 meaning every one win cancels out three losers. With a bit more patience that number could stretch to 4 or even 6-to-1. This is a trading style that works well for me.
Also from the fronts, my shares of TWTR, a position dipped and ripped and then submerged under water for months is nearly back to par. I have said before, when returning to par on my largest position, that I intend to continue holding this position well into fresh all-time highs. I know a good thing when I see it. Like Go Pro, another long term investment.
Shots are popping off across the momentum complex. Today is our first Nasdaq gap down in ELEVEN sessions and it has been the most fruitful day of the entire rally. So nasty, these conditions are, when you fight the tape.
What RSH is doing to shorts this week is brutal. That dog of a stock is feeling its oats. We have one more trading day, a summer Friday, then a holiday Monday, then mutual fund Tuesday. It is about to get interesting in here. I already have a roster of stocks I am salivating over. But instead of buying today I am enjoying the scenery. Patience, it may leave be in a cloud of dust, but it’s a virtue for a reason.
By the way, I love talking market profile hypothesis with you guys. Even if you have any general questions or feel intimidated by the material, just ask. There is no shame in being curious.
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