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"

Friday, August 7, 2009

Trading Lesson

There is a Punter.... Ok... just let me say that when people say they are "Former" hedgie or market maker... I just think you got fired cause you are a loser.


So Upside Hedgie... traded this this morning. ok.... he needed to see that there was a momentum move... (he traded the RED ARROW)and then it made a lower low... but usually that first low after a "Momentum move" is just the momentum running out.... you have a Primary move then a secondary... and not getting into that secondary move .... is the difference in being a douchbage who gets nailed in Bear and bull traps.

so sure after he took some pain, it went in his favor.... but he needed to short stregnth and sell weakness... The white arrow shows the mo mo running out to the upside too....

that 9:55 move is what I saw... and If you want to go Long this position That is where you go..

Course the sds is the ultra short spx

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