There's nothing like riding the insane crest of a good short covering wave into the close!! Made some change during the first hour today, then went down to the beach to play volleyball. Came back salivating to get into the last 1/2 hour's mania. ... days like this don't come around very often -- it's nice to give your brain a rest once in awhile.
Nearly 400 point move from bottom yesterday to close today. Booked 38 long stock points, as I trade pullbacks. These are the days that make it all worthwhile. And a good reminder why, despite the fear in the market, it doesn't usually pay to stand completely aside.
Have fun like its 1999 ! At least for a little while. I'm partying this weekend, I can afford it now.
I had to leave the office this morning after one small losing trade on spoos (long around 812). I came back around 3:30 and saw what was going on. The only thing I could say was, glad I wasn't here, cause I would have been trying to short that sucker all day-and would have lost my arse!!
so were you long through volleyball?, or were you flat going into lunch, and came back seeking to find something to scalp? running behind a fast freight train can cause sudden trauma to your trading account.... better to get on train before it leaves station (fortune cookie....)
Uh, why were you already trying to short this temporary reflex blip (not worthy of calling it a rally)?
Days like today are simply a bonus, and should not be relied upon... any dodo can make a lot of money on days like today... But I gotta say, it was GREAT!!