SALE

The Nasdaq opened and was on sale all day today. The key was picking the right spots to place your shorts because the counter rotations were large throughout the entire liquidation. In fact, it’s possible you took longs all day in the Nasdaq and made money too because both sides were rotating big. However, the sellers were punching harder. Remember how we discussed the likelihood of OTF jockeying for position this morning?

Today’s market action had other timeframe written all over it.

I was only able to participate for a few hours in the morning because the sheer tenacity and intraday speed of the market was incredibly exhausting. I devote much of my time to diet, exercise, and mental training to extend my workable hours but that is a development we can discuss another day. Today I want to talk about the developing opportunity in the energy sector.

Stock picking, ferreting from one idea to the next with intense focus has its place. There is money to be made like this and I wholeheartedly embrace this fact because I have the numbers to prove it. But my vocation as a scalper is growing, and I am losing my ability to properly manage a large book of positions.

Enter the sector ETF XLE. It is an index of the biggest blood sucking cretins to inhabit our planet. These hole diggers, fire burners, and storage containers make up a big piece of our economy, a big peace that is being tossed into the trash as if it will never again be of use. The whole sector. Doesn’t that seem like a huge opportunity?

I have no doubt these prices will adorn your children’s $300 economics text books and they will wish they were around to buy. I intend to carve out a huge chunk of my trading capital, around 25%, and very lazily plop it into XLE and then go about my merry way dancing on the hand grenades of finance. I will garnish my energy steak with PDCE and SUNE hold all said positions either into another financial apocalypse or ride them to glory as my beard fills with grey hairs. Years, that is my timeframe. Then I’ll buy a big cowboy hat and move to Texas and watch American football.

Weekly Strategy Session subscribers, my most faithful minions, and the elite Pelican task force inside 12631 know exactly how I intend to make this trade.

I tend to put my mouth out there, lay money on the line, and then assess how good a job I did live. This is how we learn and grow in the communication world. Stop living under a rock, would you?

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