I have heard a ton of frustration out there. It's funny... I tend to think about what I want to do in the market, then try to remember that, at this point most the traders feel the same way.... Then GAME MYSELF.
Me and every other Piece of shit dog trader is just trading short term. Taking the Kibble and feeding the dog.So...
Like I've said for days. you don't want to play this.
I hate to do this... This is what I have. these are the targets I have.
I have 2 at 94.50, I have a 94, I have 2 more that are a breakout above the last high, and one that is the last high.
I have almost no confidence in any of them. More end of the month money comes in on monday.
Way back when, I used to read Accumulation/distibution based on the shape of these moves. and as I read it this is more Distribution than accumulation.... but mix in some of that Fast money... and you get moves like this...
So to not bullshit, I'm looking at 94-94.50.... but the other thing to watch is that large ass pink BearFlag...
I just want to congratulate Joe Teranova, for having this market down for the past 2 months. And for having this trade Straight up!
So maybe 93.50 is the best bet....
What I was getting at is that there are sometimes third options s in trading... which is pull your bets and wait for things to be Clearer...
Friday, May 29, 2009
The Third option in trading.
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4 comments:
Or you could do the Tony Fourth Way:
Instead of being content with watching your winners ride, open up a bunch of short hedges during the end of month rally to fuck up your returns. Brilliant, just brilliant.
I should have just gone golfing.
Monday could open strong and that could be the end of it...
but up another 150pts...
I'm going to try and look at some sectors over the weekend.
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