If you retained most positions through today's move... Bravo! :HIGH FIVE: I would be your wingman any day!! (hey I loved the movie... what can I say?!) Ice
YES !!! thanks everyone for your encouragement and kind words during the last 9 trading days. i stuck to my analysis, averaged down due to my conviction that a huge rally would occur and it appears to have started today. i am still long but have lightened my postion dramatically at a profit. the current neogann channel in the DJIA is 7777 to 7903--short below, long above and flat in the middle. NASDAQ composite is 1333 to 1297. on the daily DJIA chart a very nice bottoming tail formed fortelling of the nice upmove today. as you know, i am holding small positions long in both the DJIA and NASDAQ since my long term analysis is still indicating additional upside, with another potential MONSTER up move soon. best, surfer
Surfer, I have been reading your thread everyday for the past week and am very happy that things worked out for you, we have all had similar painful situations, it takes a lot of gumption to live through them. Now with the burden of carrying a position at a loss behind you, just wondering if you have done a postmortem of your recent trades? It seems nine days ago when you originally put on your long position, mkt failed to break on the upside and then a few days later it actually broke on the downside, any thoughts if you had to do it again?
hi links, thanks ! yes, this trade was totally outside of my normal trading parameters. it was based on my long term cyclical studies, everything seemed to be in line for an upmove of epic proportions. yes, i was off by nine days, and it took substantial risk on my part to weather the adverse move. if you look back on my posts you can see that i gave the trade a time stop of 2 weeks to work out ( 10 trading days ) friday was when i was going to start looking to get out as my analysis would be obviously wrong if we did not get the projected move by then. i would have liked to have entered totally at much lowers levels but hindsight is 20/20. even though the last 9 days put me thru some emotional pain, i still would have done the same thing again. you NEED to trust your analysis, and give it time to work out. all the best, surfer
thanks maverick. yeah, i averaged down on this one based on the strength of my conviction in the analysis. it paid off ! take care, surfer