Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Saturday, July 12, 2008

Oh, goodness

I got a little hat tip from "invivoanalytics.com". I didn't mean to Pander or Troll.

Again, I have to qualify, before I do a disservice to anyone within Ear/blog-shot.

  • I'm a hack, A Grinder. Always working on that Rent Money.
  • I swing Trade when it's Choppy.
  • invest when we are in a bull market.
  • Daytrade when the "Discouragement part of the sentiment Cycle" has both the bulls and the Bears want to jump off a building.
  • I'm Extremely Bearish, But I also know that DOW 6K is not a Trading strategy, It's more a Religion.
  • I'm also Wrong A LOT, and I always hope to acknowledge it.
  • I make Rash Suppositions.
  • As the blog says "I buy the Top" "Sell the Bottom", but I've learned to use those emotions against the market.
  • I'm a 1 man shop, so... there is way to much work to do from 3am-7pm. And Fatigue is a major issue.
  • I hope that the Grimmer the market gets, the more Bullish I get.
  • I also, suspect I may be a little crazier/Gambler than I should be.

Something I don't talk about much, is my willingness to Lean Against the market. Especially Day trading. Above is FITB, an Ohio Regional bank(I think)... you know the ones that will never ever survive, with all the Breadlines and bank runs everything? since nobody is buying houses, or cars, or ipods. But.... Look At that Chart.( To be honest, it smells like it needs a significant Retest, soon)

Not only that, but In the premarket on Friday, someone sold me shares at $11. Also as it opened, the same thing. When the market Swung into a small index Counter trend rally.
These Banks moves 5-10%. These 10% intra day swings are common to many of the beaten Regionals.
Also, if we can hit a "near Term low" some of the pops will be 50-100% in a swing. Probably.

No comments:

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc