“Not so fast!” The King bellowed!

Come on now, you guys!  For all intent and purpose, just because we did not have a roaring positive green daily bar at the open doesn’t mean the upward momentum is over.  Let’s the price action speak first.  Yes, we opened down and I sold some to reduce exposure in case the selling continued unabated.  But it did not continue unabated; instead the Dow was only down 0.29% (as I’m typing this post).  This price action is far from the King yelling “Retrieve!”

No!  The King is simply bellowing “Not so fast!” 

If you look at the weekly Dow Jones bar as of now, you will see that it still has a bullish outlook.

I bought back DNN and CCJ (both as a slightly higher price than I sold this morning)

Now I’m 45% invested and 55% cash.

Remember, we can all come up with deep analysis of WHY the market should go down (or up) with strong logical support for our thesis; but ultimately, it is the price action that speak louder than what we think.

We think LOGICALLY; but market moves IRRATIONALLY.

And since we are trading the market; what information is better than the price action itself???

Follow the King and follow him tight; otherwise, the King cannot save you because you decided you are the smarter ones.

Btw, for those who invested deeply into their analysis; I know you are wishing the price action to adhere to your logical conclusion; but that would be like “wishing” your significant one to obey your every command.  Now, you know that is literally quite impossible!  Ok, ok..  Perhaps, some of the time; but not all the time. (grin)

Good Hunting!

For those who don’t know yet; in my book, King = Price action

 

 

 

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