A week in Review

I fell asleep too early, now I can't sleep..... so is the Traders life.

In all the Hectic nature of my trading..... That I'm trying to share..... BTW it's just like me, to just Regurgitate on a blog and hope you can Glean some sense out of it.... It's probably too much William S Burroughs, in my Nature.

You may ask, Why do you stick to your "Long" Short-term Thesis? that the market is going to turn... When it's not working?

through my experience, What I know doesn't work. Is to Chase Yesterday's trade. What I want, is to come up with tomorrow's trade today. Though the market hasn't turned, it Will... Instead of Chasing the trade.... I have to look Forward, To what will happen.

Once Things, arn't working. I get Defensive. Only Small risky Trades, Big Well managed Short Term Trades. But I'm Day Trading. I can Day trade All day long.... I hate it, It's not what I want out of my life, but It becomes Necessary.

for 20 Minutes today, I saw 2 lines of Resistance closing in on each-other, and knew It would break One way or the other..... First I suspected it would break up, then down. But I Waited, and took a big bet But only After it Broke, The difference was less risk to make .10 less on the trade.... It worked perfectly and made a ton... Because it's Low Risk, and high Reward, those are the opportunities that Really make money in the market, and recognising it... Is So key in Trading.

other than than I initiated a ton of small trades 5, and if they went against me as 2 did, I covered fast, and as 2 others went in my favor, I tossed Follow stops on them and took profits fast.... 1 I let ride to the point it stopped out with my commission.

Overall, I worked way to hard for Too Little money. But it's about risk management.

I do have a Gambling Impulse,and know that unchecked it's dangerous, The idea is to Find Low risk places to make Bets. but I try to limit the amount I trade like that... So yes I purchased a few Regional banks... but about $6K total. in banks with confirmed up-trends since Jan Lows, Which and jagged Knife like Drops through their regular Price levels, Even if they break the uptrend, I should be able to get out at the new pricing levels. Upside is probably 5X the downside. Which is a reasonable place to take a chance.

Even if I lose 5% in a break down, it will cut some of the 30% gains I've had doing the same thing, for the past 3 months......

the bank Earnings, are Bad, Seems like it's not likely the narrative will get worse. And with the Shadow Banks system fucked, the Regional will have to take over.

Also I Caught myself trying to Overtrade.... Which is bad.

As the week wears on.... I get more and more Fatigued, so My thinking becomes less and less clear.... Like I say, most my big mistakes come of Friday... If I had any sense I'd take the day off.

I literally Wake up, and start reading every day, I can never make it through everything I want to read. CNBC blairs in the background, till I can't stand it and have to switch to bloomburg. My radio sometimes is better company. I tie up my loose ends, check on personal stuff in between figuring out if Fast money or Kudlow are worth my time. All While Obsessing over Stocks, comming up with trade ideas..... I dig Kudlow.... and love that he has stolen my calling the USDollar the Peso. As Disingenuous as I find him, in much of what he says. That is one of the Most Worthwhile shows on CNBC.... till he talks about Politics.

Another huge distraction is trying to trade While Bloging.... I'm going to try and limit the updates, and stop posting trades.... Limit my blogging to showing Trends in the eyes of my version of Chart Astrology.

I still think we will get a serious upmove..... But where it will go, and what it will mean, those opinions can wait until I see it happen. this was one serious Bear move, and I think we have probably seen the Highs..... But I don't think we are out of the "woods" as far as upside is concerned..... I think that will happen after this next upmove.... where Ever it goes, it will be time to Clear most of my Longs, and start thinking about getting "Net Short".

As much as I completely buy the Bear Thesis, I also know it won't make me money. History says that the market will trade Between 12800 and down 30%, for the duration of this "Recession" Frew "Recessions" have ever lasted longer than 13 months, which puts the maximum bottom in october or november. Mother market will put the Skrews to everyone. count on it, yesterdays Profits, will become today's losses. There is always another opportunity tomorrow to make money one way or another. The money will be made in the swings.

When I talk about a "Bear Market" I'm talking about a classic Bear, where for 3-10 years, the market goes Nowhere... because inflation has it Sandbagged. Once we get "risk" repriced, and we get Risk back in Bonds, and Stocks. This market will be AMAZING, Something we haven't seen in 30 years. An Investors Dream...... When these dip-shits, try and take risk out of the markets, all they do is take all the profits out of it, In fact it's counter productive to their Goals.

But the people trying to keep the market up, don't realize it.