Somehow the week turned out ok.. So many stocks!... Closed out everything except HMY at around SP 1393 or so.. I doubt I will regret it. Could not muster the strength to go short.. Run-up may not be done but too soon to expect to make anything shorting as the markets teachings should be taken in. Next week.. who knows Commodity stocks look tired... Homebuilders could be the plays.. Bulk Shippers still seem to have some left... Expecting few trades but we'll see.. MUST WAIT FOR SETUPS.. Good Weekend..
My "guide" next few days which I'll file away in my head ASAP... SP 500. Declining trendline from last fall as well as November low very likely to stop/slow down the bull proceedings. 2 Trendlines intersecting is as good as it gets for counter trades so I'll be building short breakdown triggers especially for AFTER Ben day at end of month. I think we'll muddle sideways/higher till then. As always, I'll trade what I see..
Neke, Thanks!.. As well all know, there is always a pin around the corner waiting to burst the progress. A system is only as good as the trader can recognize and make small adjustments as markets change. Rashid
Hope someone here held onto the Coals.. Re-bought at a premium today.. JRCC in the mid 25's.. The original target was 28-ish. Also picked up RYL at 34, GNK mid 66's, and UAUA short at 21.46. Must keep trying to improve maximizing trades.. Over-focusing on overall markets continues to cause me to uproot good trades.. Perfection will never happen but will keep pursuing it.. Rashid
Living in a dream world it seems.. surreal.. Covered UAUA avg 15.97.. 25% overnight trade.. Woof! Now get back to earth! It goes to 10 now..