I read one of Linda Raschke's articles where she talks about trend days. She said when the market runs up from the open without any signifcant pullbacks and the market internals are strong, if your not already in, get in around 2:30 and ride it to the close. I have seen this play out time after time and yet I wont take the trade as I always find a way to talk myself out of it. I swear I will take the next one. p.s. these are not her exact words but close.
Psycho-Babble 101. When you see a trend day unfolding, you have to tell yourself to get on-board. Otherwise, you'll remain stuck in the loop of imagining taking the next trade and never doing it. You might also have some perfectionism issues that you have to purge yourself of.
That's a really good point. Here's my post I just posted on another thread along these same lines: Under the heading, "Coulda, Shoulda, Woulda", I "knew" this was going to be an uptrend all day long this AM. Could see how it was trading and just feel it. At least I felt strongly it would. But did I trade it that way? No. (Pulls out gun and points at temple - then decides against it) Grrrr!!! After so many crap, trendless, narrow range frustrating days, I miss most of this one too. Damn!!! I had to leave in the middle of the day and decided against going long with a stop. At least I knew enough not to try and short it. Oh, well. We'll probably get the crap, chop back tomorrow.
Some trend day alright. When was the last time we saw 91% of the Nasdaq volume on up stocks? I don't ever remember seeing the up volume percent that high. Could this be the final run up on this recent rally? Any thoughts