dtf- as i just posted on your blog, its a bear market you know so it makes it easier to hold the shorts. same thing yesterday, a little patience for the bulls(shit)to end and down it goes. They really dont want to buy stocks, but they'll pop things things up to shake out the weak hands. as i said a few days ago the markets are like a drunken, blindfolded elephant balancing on a ten foot pole. it shouldn't be up there anyway but when it starts to come down there will be a crash. Of course I still think the PPT is out there so anything can happen. we can shoot up massively tomorrow- be ready to trade with whoever is in control.
short QLD
4 comments:
Amazing trades Scott.
I know I have asked before, but I look at these charts and wonder what is going thru your head while managing these trades.
I mean - you stayed in because you thought they still had direction. Was it more of a feeling that the general market was weak?
Or is it more an indifferent approach: I am in, let it move; if I get stopped I get stopped. If it moves big I look for an exit.
That 12:50 doji on TNA would of had me calling reverse; which I guess it did, but it didn't follow thru for very long.
Trying to break thru this mental block and practice an approach. Thanks in advance.
dtf- as i just posted on your blog, its a bear market you know so it makes it easier to hold the shorts. same thing yesterday, a little patience for the bulls(shit)to end and down it goes. They really dont want to buy stocks, but they'll pop things things up to shake out the weak hands.
as i said a few days ago the markets are like a drunken, blindfolded elephant balancing on a ten foot pole. it shouldn't be up there anyway but when it starts to come down there will be a crash.
Of course I still think the PPT is out there so anything can happen. we can shoot up massively tomorrow- be ready to trade with whoever is in control.
Hey Scott,
What does PPT stand for? The only thing that comes to mind is Presidential Prayer Team :)
Thanks.
jim- Plunge Protection Team
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