Asked and Answered Again
I have been asked numerous times why I covered my shorts so early when I was so vocal about a 5%-10% correction two weeks ago. The answer is that I almost always exit my trades too early and leave money on the table. However, I rarely hold on too long. Its a trade off. Everybody needs to adapt their trading style to their personality.
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4 comments:
Nice point. My objective is 3% a trade. I made almost 4% on TM. Could have held out for more but I hit my target.
Earnings are out Wed for TM. Last 1/4 should be good but worried about lowered expectations because of the recall. Either way I hit my mark.
Today's market isn't being batted down like last week's. (I think all but one day, every rally was met with serious selling)
What's your take?
I don't like that there is call buying. The rally is being embraced too quickly.
Yeah, plus it's a weak rally. Hasn't penetrated the support-turned-resistance level at 1090.
I'm looking for trading between 1070 and 1100 through Friday with the decline resuming next week. Above 1090 I'll add shorts; below 1075 before non-farm payrolls I'll reduce shorts. Also looking for mean reversion opportunities between sectors, as people do a lot of rotation this week.
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