The First Commandment This Week is Thou Shall Not Chase
The biggest mistake to make in this environment is chasing a move after it happens. But you also have to avoid putting risk on before anyone else is interested in playing along. It is sort of like being a small girl testing beds and porridge inside a bear den.
Seek out the weak baby cub and take its food and shelter.
Today changes nothing. If anything it makes me MOAR boolish. A big piece of my weekend strategy was oil strength early in the week. So I can check that off the list.
This afternoon selling in the Nasdaq reminds me of the boogie man. The intentions are to generate fear. People who behave out of fear go down a path of self destruction.
This takes me back to this week’s First Commandment. Chasing is the result of peer pressure. Your friends have jumped from a bridge and are now celebrating with aggressive fist pumping and pelvic thrusts in your direction. You’re afraid they will abandon you if you don’t join in their stupidity, so you take a leap of faith. This was never your idea and you realize it just before you smack the water. Perhaps it’s bad luck but more likely by bad form you hit a low spot and your knees come completely through your body and replace your arms. Your arms have been blown off and are now floating away, and all your friends can offer is solace in the form of fist bumps to your foot-hands.
You cannot survive trading without qualifying ideas on your own. Sloth is a sure journey to insolvency.
I see you pumped and faded my CHGG call and guess what guy? I don’t care. This is a longer term bet that lazy college students will go hard on Chegg’s services. Plus we all know higher education is the greatest bubble of all time, so how in Sam Hill tranation can this go wrong?
If you enjoy the content at iBankCoin, please follow us on Twitter
Raul, just as a little-known fact regarding the use of the term ‘commandment’, as in ‘the Ten Commandments’; it was in fact ‘Recommendation’ which was altered, hence falsified, to the more religious consciousness-enslaving term of ‘commandment’. Since the human being has ‘free will’, iow the possibility and therefore the right to free decision, i.e. to choose his or her own path, the term was indeed recommendation. And there were 12 such recommendations, two of which were left out in order to further the consciousness-enslaving process of belief, which was necessary in order to control the human being and make them do things like, e.g., blow themselves up or kill others in the name of imaginary beings so they would be rewarded in imaginary afterlives, etc.
Regarding today’s commandment – thou shalt not chase – tis a good recommendation however there are exceptions to the rule/recommendation/commandment, depending on one’s time frame. For someone who bought CHGG at 6.50, buying here may seem like chasing but for you who sees moar, the reward outweighs the risk of a little aversion move towards the low eights before the next leg up.
Excuse me, just felt like writing something. 😀
You can come by and write stuff like this anytime. Very cool theology lesson, and agreed on CHGG, thanks!