Impatience
Shorting the SPY this morning was a case of ants in my pants. The market has been going down for two weeks. Shorting after the first up day is not the way I trade. The move brings my portfolio to neutral as I am short puts in AMGN and BRKB. At this point I will just keep the hedge on and stay market neutral.
Subscribe to:
Post Comments (Atom)
11 comments:
700 POINTS DOWN, THE EXPECTED BOUNCE SHOULD BE EITHER 38,50 OR 61% OF THE 700 DEPENDING ON THE FIBONACCI RETRACEMENT, I WOULDN'T GO SHORT UNTIL ONE OF THOSE IS HIT AND A REVERSAL IS SEEN ... THE MOST COMMON IS A 50% RETRACEMENT , SO YOU HAVE A WAYS TO GO... always wait for the turn , there will be plenty of time to catch the downtrend
I'm 60% cash right now and hope to be 100% by Friday.
I'm gathering my arsenal and getting ready to drop short bombs on this market.
But if the unemployment number comes out good, what if we have a double top again. Which is why I will be deploying my depth charges at strategic levels. I will start at 1110 perhaps.
Those fibonacci's never work 100% correctly. And that's because fibonacci or the golden ratio or whatever is supposed to reflect mother nature. But since we have half the robot being traded by robots, artificial intelligence fucks up the golden ratio.
I have to admit, if we are in a bear market right now, it is very tempting to short. But why gamble.
Different strokes for different folks. I have done very well calling turns over the years even though everybody says it should not be done.
With Obama and Volker on the tube this afternoon it makes sense to lighten your bias anticipating a dip.
They are full of tough news.
who is truly wise?
one who learns from everyone
Learning from everyone does not mean copying everyone.
wisdom comes with accepting your mistakes, and building experience upon them.
Wise man says man who sleeps with itchy butt wake up with smelly finger.
HAHAHAHA
Post a Comment