Greetings, hello, happy Halloween. My interpretation of the Exodus software, which I read in as simple a way as possible, remains bullish. Last week was rough and so was the week before. But anyone who has been around for a decade has traded through more volatile markets than this and survived. The fast action feels good. It can be exhausting, but so are most other fast activities. It helps to limit screen time. Also having wider ranges for entries and exists, and being extremely selective with trades. I would much rather be on the sidelines unless all my tools align for the proverbial ‘fat pitch’. Every trade in these conditions carries more risk, both the kind of risk that can be controlled and also risk of unexpected error. So strict rules apply to trade selection.
Being bullish is not a blind buy-the-f******-dip approach for me. My bias is formed every Sunday. While the price of most stocks is lower from last Sunday, intra-day traders know that having a bullish bias last week was not that bad if you were trading nq_f. Monday, Tuesday, and Thursday went range extension up. Friday and Wednesday did not. I threw in the towel early Friday before sellers could take me out, because I decided last minute to visit Philadelphia for the weekend.
Philly is rough. The town wore me out quick. There is garbage everywhere. When you see someone litter say, once a week, you think, “wow, what a piece of shit human,” and you pick up after them. In one Philadelphia day, I personally witnessed four acts of littering in one day. What am I supposed to do? Go around picking up after careless slobs all day? At some point it wears on you. Then there was the rain, the nonstop rain.
Lots of garbage and drug addicts in Philly, even from a Detroiter’s perspective. A few weeks back I was out in Santa Barbara, so I have a fresh memory of what a pleasant and clean town looks like. I don’t like pleasant and clean either. I suppose I desire a Goldilocks scenario where anarchy rules but people don’t litter or addict themselves to drugs.
In any case, it is nearly winter and the only logical place to be is the Pacific Northwest, where the air is misty and fresh, the mountains are high, the water is crisp, and the population is sparse.
As for the markets, I remain bullish and expect Tim Cook and his team working inside the Pentagon of Silicon Valley and the Foxconn factories of China to once again save us from ourselves.
Thank you Tim Cook. Thank you Elon. Thank you Jeff Bezoz.
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