Saturday, June 13, 2009
Last week was a treading week. I said tread not trend or trade. I had a feeling that most traders and voyeurs of the markets were fixated on the $SPX. 920-950 was the key above which they could breathe, below it they would sigh or die; flip that for bears. I'm not sure, but I would imagine that a significant move either way would have had major action, which I think can still occur next week because the watch is not over. Notice that I wrote a significant move not the slightly bullish nibbling that has actually occurred, because we did gain on the week. This treading should be no surprise as it is the first retracement line for the 2008 high at 1406 set on 2008/05/29 and the fact that we peaked ever so slightly above the mark is a testament for the test. Of course it is not assurance that it will continue.
What is encouraging, in addition to the slight upward move, is that the price has not oscillated between testing the 200dma and the retracement line. If it had, I think there would be many traders already washed out; but because it's clinging closer to the retracement line, it's encouraging more buyers who are anticipating the next move up. The fear of losing out is strong and one of the hardest urges to resist.
The other encouraging sign, and maybe more significant, is that we've been here before with much more volatile reaction. Notice on the chart: 2008 Oct 22, Nov 06, Nov 10; each only a single occurrence with a strong pullback, the last being on 2009 Jan 06 only breathed at the retracement line before scuttling down and setting the low in March. So what is different?
The 200dma is now below the up trending price, ready to meet the 50dma which has followed the trend up. Whether the 50 dma will cross over the 200dma, only time will tell and given the current set up it is easily imaginable that it will. The strength of that possibility is what is currently holding this treading (sideways) pattern. From here there are three possible outcomes that I see which are all compelling enough to have me wait until it's revealed. The first, being the most obvious, is that we break out above with the 50dma being the rocket booster and don't look back until 1000 or even 1040. The second that once the 50dma hits, the market will pop to just above into the 960-980 and pull back on strong sell off to retest the 200dma after which it will take off again; of third, that it will break the 200dma and retest the lows.
I think we only have the chart for a visible and visual answer. Other data such as, the world is still spinning, and No. Korea has not yet wiped California off the map, or any other fleeting news about money, real estate, jobs, politics or life, are only opinions. Although important and all enter the equation, they are not visibly measured yet; or at least not yet accurately. A chart however gives you a visual picture with which you see history and can draw conclusions, given that certain things about behavior remain the same.
Predictions discussed by the media and written in blogs like mine are both bullish and bearish. My plan is to be ready for whichever way the market moves, remembering that, with all the possible trades in the markets, there's always time to join the parade before it passes me by.
Happy Trading and Living!
Please see the linked chart list on the left side bar for all calls. Hope this will make it easier for you to access the visuals.
The week that was a sideways move still yielded some good trades some with patience others with agility. UNG continues to be a "mistery" and will remain on the list with the caution I posted on the charts. DGX opened below the $40 on friday for a short but had strong support around $39.50 so decided not to hold over for Monday. EQR, gapped down at open and was not entered, but continues to be on watch for next week. VNO was reversal play after opening with a gap low to test the day before proceeding to move back to $48 where it was supported for the rest of the day. I made no other plays from the list on Friday.
- 6/11 UNG, DGX, EQR charts added to list late evening for Friday
- 6/11 SOHU if you watched China o/n it was time for profits. Will check for re-entry
- 6/11 VNO short trigger again below $48, lower low today.
- 6/11 PNC short in morning then turned positive
- 6/11 WMT finally broke down entry was at $49.69 now lod
- 6/11 IBM back on watchlist break higher to elusive $111-$112?
- 6/10 MCD stopped @ b/e. Going to watch it another day
- 6/10 PNC If you weren't quick at the open, you missed the gains. I was stopped w/small gain. Looking at the 15min it seems obvious but on the day it's barely a blip. Consider using the 15 to watch for a breakdown and resistance in at the 42.50/42.75 area
- 6/10 SOHU in money, watch where market takes China o/n. This is a Cup pattern trying to fill see pattern from Sept on chart.
- 6/10 UTX afforded a couple of good plays today short and long
- 6/10 VNO exited @ $50 since it stalled and hit $51; short triggered below $48. Since it broke down the $48 caution going long ahead watch $48.75 area. New chart uploaded
- 6/10 WMT long hold from yesterday stopped for loss; short triggered $50.30 did not break the $49.70 covered @$50. May break down watch the 49.70 break and the 200 dma for resistance for long entry.
- 6/9 Long triggers SOHU VNO WMT PNC MCD
- 6/8 China Play SOHU long above 68.50 to $71. Short below $66 to $64 /$63 then $60
- 6/8 MCD so far the 200dma is support . Gap up is pssible to $61 . Breaking down the 200 dma look for about $56
- 6/8 WMT failed h&s breakdown. Look long above $51 to resistance, then near $53 breaking above the 200 look to $55. Short below 50dma to test treandline near 48.50. http://www.twitpic.com/6ys5r
- 6/8 UTX Play between $54-$58 breakout to $61 breakdown from $54 to $52 & $50.
- 6/8 VNO tight and ready for a move. Above $49 looking to $51 and again $52, $54. Short breakdown below trendline to test the 50dma around $45, $42, $40. http://www.twitpic.com/6ys65
- 6/8 PNC short below 41.44 to aboub $40 below look to $37. Long above $44 http://www.twitpic.com/6ys6z
- 6/8 SKF hit a 52 week low Friday I think this has further downside (to about $34 area) although there are many collectors. Serious upside I don't see until it breaks $46.
Thursday, June 11, 2009
I look at the markets each morning and I'm actually surprised to see a positive attitude and a positive outcome on the boards. I like green a lot, yet I am thinking it should all be red. After all, the blood of the USA is being spilled everyday.
The blood of the the soldiers of the War of Independence is being spilt again everyday by people in Washington that have no idea what being not free means. They are so fast and furiously changing this country that the Constitution is not even regarded with a passing glance. I hear the news every day; I turn it off, yet when I listen to the radio, I hear it again. I look at the markets and the disconnect is uncanny, therefore I can only come to one conclusion. I am witnessing the killing of America and everyone is clueless.
I know that's not true. I know that many citizens are not clueless and many traders among them are not either. In fact traders tend to be most savvy as to what is happening, yet I do believe that many do not wish to add things up; connect-the-dots. It's easier not to. It's hard because daily we are faced with another onslaught of changes proposed, which Congress folds into writing and accepting, and shoving down the throats of the rest of us. "Like it or Not". It's like a feeding frenzy, and the elected government officials are at the trough. What's interesting is that the government calls Wall St. greedy, yet they are the ones who can't get enough. This government and administration can't stop themselves from taking more and more control; and doing so they are killing those who have built and assured their prosperity, one by one.
The deficit is tripled since February 1st. Yet the market is rallying. I remember people/news being outraged at Republicans spending too much in the mid 1990's. The market was down. Where is the outrage now?
There's a lag from Washington to Wall Street. It's now about 4 months. It used to be longer but with the modern communication abilities it takes less time. Of course the route is not direct; it goes through Main Street because in reality, it's people who make Wall Street tick,.
Wall Street reacts to the people, not to Washington; it is driven by what the people do, earn, lose, buy, sell, all of course a demonstration about how they feel. That is why the business media is obsessed with how the people are doing; prosperity being important because without people investing, there's no Wall St.
Main Street IS Wall Street regardless of how much this administration tries to separate it.
The greed of this administration becomes evident by their actions. They want to kill Wall Street so they can have people invest in them. It is what this President is asking you day after day. "Trust us", he says. "Let us take care of you, don't let that greedy bunch on Walls Street cheat you out of your money!" "Wall Street and the Businesses have failed you, capitalism has failed you, so give US your money and we'll take care of you." A Socialistic Utopia, that leads to suppression. Nothing less.
The narcissism flowing out of this administration is absolutely jaw dropping. The President and Congress is asking you to hand over your money despite the long history of government failed programs. There is not ONE prosperous business that was or is run by government. Even their cafeterias had to be outsourced to a private enterprise because it lost money; yet they ask you to turn your money over to them to invest for you. If you think you were scre*d by Wall St. you haven't yet invested in government.
Four months ago, the beginning of February, people were elated and mesmerized by this new administration. The new "Camelot" has taken seat; so now the Wall St. is still basking in the positive flow. By now, the taxpayers should be realizing that the $720 billion bailout stimulus plan passed at the end of February is an utter failure. The promised 8% cap on unemployment is far surpassed. More and more businesses are failing, never mind the housing, and they keep throwing more money out the window; just today with the $45 billion dollar clunker tax, to add to the other lengthty list. Anything government spends whether it it has funds for or not, is a TAX. Make not mistake about that! So let's give it a few more months and see if they are satisfied with how much they passed or will there me more.
My bet is that there will be a lot more. Government is not a business and they do not know how to run one efficiently but they are in the habit of spending money or better put, buying your faith, trust and most of all, VOTE. It's bad enough that the government engages in name calling to lay blame on Wall Street and the "rich" for all our woes, but what is worse is that many people bewlieve and repeat the lie.
Happy Trading, Living and Dancing
Saturday, June 6, 2009
- 6/4 ICE hit $120 the last minute before the closing bell.
- ICE broke through $119 2times on the 15min careful of a dbl top .. target still $120 area..tighten stops
- 6/4 ICE Looking at charts.. next target is about $120
- 6/4 ICE did not melt for long.. I used to make a jingle about it.. ICE is nice prepared with rice and lice carried on little feet by mice and served real nice for your surprise!
- 6/4 VNO nicely in the money on breakout of $48 today $50.50 was an important break..so is the 50.98 going forward. Good luck.. keep those stops in mind
- 6/3 VNO is within the $42-$48 range again. Suggest playing it within until it breaks upside or down. $54 currently seems far away. Patience here is the key, but not buy and hold with prayer.
- 6/3 GDX as suspected is pulling back. The caution flag proved fruitful. 1st entry below $43 today and second $ below $42 yielded nice gains. Keep same guidance as on chart with downside target of $40 and caution around the $39
- 6/3 ICE yesterday it hit target. Today it needed a rest
- 6/3 POT has had huge gains since March so on the daily this pullback looks like consolidation. $107.25 low from last week needs to be a concern. Today it filled the gap from 5/21 before reversing. Proceed with caution let the market tell you it's direction.. Watch $107.25 and the 200/50 dma
- 6/3 MCD ended today on hod. Two days each near point gain. Look for the morning 60 min to give you a clue for entry.
- 6/3 IBM $109 proved a big challange and it pulled back on barely a brush from$108.80 furthering decline today. A nice recovery in the final hour today touching a new resistance level developed at $106.50. Watch the 200dma for support on the downside. Upside needs a gap fill to $107.30 area
- 6/3 BIIB chart posted and entered long today 1st target hit and on pullback to entry 6/4 may prove another opportunity
- 6/1 MCD put up new chart post market keeping eye on for tomorrow
- 6/1 POT finally broke through that $117 for some nice gains to $121 before getting cold feet again.
- 6/1 BDN met the 200mda before pullback.. hope some profit takers there.
- 6/1 MT gap up this morning put's it on the yellow flag list. Careful of the gap fill.. take profits and keep small for forward gains
- 6/1 GDX caution flag was out all day on this and going forward pullback is in
- 6/1 IBM on nice track finally catching up.. will watch for the target.. remember what I said about the $109
- 6/1 VNO triggered for some who took update entry @ $48 and 2nd trigger at $50 from the 5/27 entry. Close above $49 encouraging.
- 6/1 update: FTO actually popped for FTO that is ..more interest coming into play here, volume picking up
Saturday, May 30, 2009
5/30 POT has a hart time with $117 couple of nice scalp trades on the intraday call, long and short
5/30 IBM finally showing some moves still like the $110-111 target.
5/30 BDN nice bounce off the $6 in channel finished well on Friday close at high side
5/30 GDX target of $44 hit on 5/29
5/30 FTO in the money move stop up to protect gains
5/29 4pm Preferring the pen to my charts, I made no trades today
5/28 2:24pm: MT hit target per chart @ $33.40 breaking above 33.55 may continue to gain $35.30 area. Take profits keep small for further upside, protect gains.
5/28 1:40 pm: POT long above 115.15 stop 114.10 flip for short (short below 114.10 stop 115.10)
5/27 3pm MT update: MT met resistance with the 200ma and now on a pullback.
5/27 new post: VNO http://www.twitpic.com/62amh thoughts: Supported by the 50day above the 42.50 mark looks to me that losing 42.50 will trigger drop about $40; on the long side above the $50 should trigger a move up toward the $55. On the high side see the trend line and top with the 200dma moving down to meet it..will be watching that point for strength and resistance.
5/27 1pm: POT losing $115 look for near $113 200dma on 15min
5/27 10:30am: POT trying to break thru 118 today lower volume today don't know if it can hold momentum; looks in consolidation on daily so watch for this to possibly fill gap on daily to 123 area
BDN MT GDX FTO
Friday, May 29, 2009
Market is slow and pensive today and it seems to reflect my mood. I think it's better this way since observing some charts as I write this, there are many stocks in a pause mode. Fridays seem to draw that out of late. What is nice is that there seems to be more observation going on rather than hurry or panic. I think it a good sign.
It is a good time for "Practicing Patience" ; it's time for a wait and see attitude. Time to reflect where we have been and where we are possibly heading. Our government has launched a rocket full of changes that I feel most of us have yet to reflect on and put the public and traders more in a reactive and conforming mode rather than in a reflective one. Some who have been wondering why the markets are doing well, have been frustrated for their logic but I think it's because we've been steamrolled into acceptance of things that we cannot possibly comprehend in such a short amount of time. So perhaps now what I'm reflecting is a desire to slow down. After all the lazy days of summer are upon us.
The collective consciousness is at work here in my opinion. A lot to digest some good and some not good but no matter which way we are going, to thine own self be true. Observe yourself; if it doesn't feel right, don't enter, don't jump, don't chase and don't run. Let your inner guide work here. I am reminded of another early article I wrote on the subject that may be appropriate for this mood. "A Different Feel"
No matter where you are it's good to remember that everything works in cycles and all will be resolved in time.
Happy Living and Trading!
Thursday, May 28, 2009
I won't pretend to be a food critique writing about each entree, service or nuance of flavor.. ahh heck, why not?
Three of us dined there yesterday. Place, location chosen not because of recommendation but because of convenience, and because of the online description and menu. We made early reservations for my sake mainly and arrived at 6pm finding that it was empty. We were welcomed with warmth by manager Sang Ae Leblon, seated across from the bar underneath the blackboard for which this restaurant is named. We felt immediately cozy despite the fact that the place was empty except for us. Perusing the menu and the specials for the evening upon the blackboard, we dined!
There are many tempting dishes to try on the menu couple with the blackboard specials it was not an easy choice when one wants to try everything. We chose 2 entrees off the menu while the third, sweetbreads was a special blackboard special and we were not disappointed in anything we had.
Deciding on the escargot in parsley sauce to start our epicurean journey, they were served not in the shell but rather pocketed in potato halves. This is not your usual drowning in butter escargot! Tender and mild flavored delicious.
There are many tempting dishes to try on the menu and coupled with the blackboard specials it was not an easy choice when one wants to try everything. We chose 2 entrees from the menu while the third, the sweetbreads, was a blackboard special. We were not disappointed. Our entrees were served piping hot and perfectly timed to our first course finish. Nothing hurried or wanting here.
The sweetbreads pure flavors came through accompanied by morel and porcine mushrooms with a puff pastry to dream on! see pic
Perfectly seared salmon with skin that was crunchy while body of the fish was moist cooked to perfection set on a sauce of lobster bisque surrounded by peas, pea pods and fava beans adorned with paprika pepper perfect for a spring fare ala Provence.
The duck confit was moist, tender falling off bone with crispy duck skin, set in harmony with a cool crisp utterly fresh butter lettuce salad and pomme landaise (potatoes crisps fried in duck fat) If you never had the pleasure of potatoes fried this way, permit yourself the duck/goose fat indulgence on this occasion. You'll understand why the French won't give it up and forgo McDonald's fries forever.
The wine list is brief and impressive for its diversity. Anyplace that offers Gosset Brut Excellence by the glass is a winner in my book. This evening however, we ordered a bottle of Pierre Sparr 2007 Reserve Alsace Pinot Blanc for our first course. Served overly chilled, as most restaurants seem to do with whites, we did give it time to warm so it could reveal its flavors of white pepper apple/grapefruit with a medium body and fine finish. A lovely Alsatian wine that won't break the budget. For our main course we chose the 2005 Domaine du Gros Nore Bandol for two reasons, thought the characters of a Bandol would be perfect for our entrees and second, we've never had this producer before and we like adventure. We were very pleased with the deep blackberry and dark fruit bouquet and flavors along with some spices with rich velvety finish.Our service was well attended with our glasses never lacking water or wine, nor our table attention as needed. A friendly staff gave charm and warmth to the evening and while we started our evening alone, we were not that way for long. Customers continued streaming in until we were glad to notice that all tables were occupied with happy diners.
I'm glad that this restaurant has success and as I noted to the manager if I were to live in the neighborhood I'd be there cozy up at the bar for friendly conversation, nosh and a glass once a week. She was so happy to hear that, she treated us to a glass of port. Now isn't that what a friendly neighborhood restaurant is all about??
Chef-owner Thierry Clement, whose name I did not inquire about until later, founded another success here (as if I need to tell him). He is formerly of another early discovered favorite restaurant of mine and the city's: Fringales.
So many of you who read my musings, live in the vicinity of San Francisco and many of you who don't live here, have occasion to visit San Francisco sometimes during the year at least once. I encourage you to try this gem on your next visit and when you do, be sure to mention you read about it here on this blog!
151 Noe Street
San Francisco, CA 94114
Thierry Clement is on Facebook, wonder if he's on Twitter?
Happy Trading, Dining, Wining and Living!
PS. Author has no affiliation or acquaintance with the owners or staff of this restaurant. Just a happy customer!
Saturday, May 23, 2009
POT: 5/18 #1 target hit: $111. 5/20 #2 target hit $116. Wed call was stopped @$116.
FSLR:5/18 entered short 176.97 stopped. 5/19 entry $185.18 hit target $190. Did not hit short signal for the week
APA: Was good long $80-83 did not hit our short signal for the week.
DVN: Was good 5/21 for long $62-65. Did not hit short signal.
PBR: Did not hit short signal. Was nice long if you flipped it.
FTO: Long entry @$16.50 took 50% @ $17.41 on the fast spike Wednesday. rest w/stop kept @$15.50 ...I am just not convinced yet. Chart uploaded http://www.twitpic.com/5si59
WYNN: Long entry @$38.50 with target hitting $42 took 50% Tuesday . Break above $42 did not deliver. Did not add. Rest out on Wednesday @stop of $41.50.
Calls with Wednesday Updates:
* POT plot to $123 target as of 11am 20May09 : 117.59 pivot R1 119.88 R2 125.29 stop set at $116 today
* POT hit target #3 $116 ++ today May20th
Calls with Monday & Tuesday Evening Updates:
* FTO from last weeks call perked up Tuesday. Looking for oil to continue trend upwards: MUR potential to $58. Also from previous call lists, COST and BIIB long are performing.
* OK OK I called shorts Sunday night on: $FSLR $DVN $PBR $APA. only $FSLR triggered. But if you read "The Flip Side" you would have known what to do. Be always ready for a change in the market trend. What is interesting is that Monday's rally was on lower than usual volume. So heads up.
* APA: Short below $75.90 to $73 then to $71 AP A: Chance for long above $80 to about $81 higher on momentum but volume on this is drying up
* DVN: Nice on long if you flipped on entry above $60 on Monday. Further long above $62 look for near $65 again. DVN: Short below $58 to about $54.
*FSLR Long above $185 to about $189-$190. Short below $177 target $175 breaking 173.90 to fill gap to $165 area.
* POT: Long above $108 to $111, $116. Hit 1st target Monday look for further upside to target #2 POT: Short side look below $107 to $105 then $103;
* PBR: Short below 36.70 to $35, $34 area
* SKF: Intraday call short below $43 hit target ($41.50) Look lower below $41 to retrace to $40 & to test lows if financials remain strong. Still keeping in mind that it can break into new lows.
* WYNN: Looking for a reversal Long $38.50 - $42 We had a nice entry on this ending day @$41.40 Watch for $42 break above for new target to $44
Saturday, May 16, 2009
BIIB : Stopped out @ $49.20 on May 13th high was $49.87 for week. This may not have been the best pick and target was optimistic. It however delivered a couple of good trades and could also be scalped between $48.84 - $49.60
DVN: Poked above $65 then proceeded to form the handle Friday close $58.50 Stopped.
IBM: Hit high of week on Tuesday $104.50 below the $105 target. Entered above $101.70 @ $102 on Monday, exited $103. Tues, Wed, Thus did not play Firday again entry on open @$102 for the target of $103
MA: If you took this short below the $185 on Monday and held, you're a happy camper. I'm not that smart. It never went above the $185 for long, so, there was no POP for MA. Shorting below Monday close still netted target of $175.
PNC: Took 3 entries with 2 stops on Wednesday last one paid off with Thursday gap down. Did not go long.
POT: I covered this on my "The Flip Side" article below
PRU: Hit $37 target on the 13th.
SKF: Scalps this week long mostly. As I said the ride up is slow. Snow is melting. May be rock skiing for a while. There's an interesting rhythm forming on SKF which I have to verify for later sharing.
WYNN: Once losing $ 44.00 on Wednesday, 43.40 was just the beginning. she just kept paying below $43.40 to $37.10
That's all.. Hope this week was profitable for you .. thanks for following.
Update for 5/13/09 (published Tuesday night in sidebar)
- SKF well we have to ride up the hill sometimes! The chairs' our friend ! Nice upside action today for several points. But look at her on the daily, Near the 10dma high today which it's been riding down. As always, be careful of snowsnakes.
- MA no POP on this. (pun intended). May take short below close to about $175 on this on open then enter long on the reversal (if any)
- BIIB We're on the 2nd day of entry holding long for target
- WYNN gave opportunity both ways nearly hitting $50 on Monday at open and nearly hitting bottom @$44.10 today. Look for further down to about $43.40 on the long, above $46 holds promise to $47
- PNC on pullback below downside 43.14 before another pop . Breaking $43, with some congestion to $40; upside to $48, 52, to 6mo high
- DVN at $65 again rim of cup but continued climb will take it to little below $68
- PRU dropped 2 days at open and then sideways.. $37 not hit yet, take a look at the action tomorrow for possible reversal. More downside is it loses the 200 @$38.35 on the daily
- POT b/o of the channel and took flight . Watching test tomorrow for direction. $105, $107, $109 upside above $102. Downside below 99 possible to $97 area
Be careful and be ready for the instant change.. never take for granted that the trend will continue
- POT is in sideways action with some potential scalps between 92-96 depends on open of course
- PRU looks like it needs a pull back but don't argue with the trend $48 , $51, $54 can be next.
- PRU on a reverse has potential to about $37
- CSC still watching . may go short on this one
- FTO long above 16.26 watch $16.85 level if b/o over potential to $19
- DVN above $65 looking long again to $69; but first waiting for a pullback handle to about $57-$55
- PNC if she breaks higher and clears $55, 57 then 62 is possible on momentum of higher volume
- WYNN consolidating for break out or down . above $48.20 to $50 .. below $47.40 to $44
- MA closed at hod Friday watch a pop on this and the $188-189 again.
- BIIB long above 48.84, above 49.50 target $51
- IBM going forward needs to hold above $101.70 target $103 then $105. Reverse breaking $99.63, target is $98
- SKF Then there's our double-black- diamond SKF .. hit below $39 and closed there. Looking for $37, $35 then as low as $31 next
Friday, May 15, 2009
Those that know of what I speak will sympathize and commiserate, but it's really not the solution. The idea is that we recognize soon enough a trend change and correct our positions fast enough to take advantage. Take for instance POT today. I've worked with this chart a couple of weeks. I've plotted, I've planned and set targets I've done what is required for discipline and I've been successful. I've also noted in my head that a pullback is inevitable in the markets and on this equity that has such a superb run. Today it hit target #3 ($109.00) and ran beyond which I prefer for it tells me I got out at a strong position and I can asses for re-entry on a pullback. The pullback is an opportunity for a short isn't it? No, it's not always. Pullback can be brief and with a strong stock can whip one out in an instance; and it's trends we look for and not the instant glory.
Shorts have to be plotted just as much as long positions are, which I did and saw the opportunity but did not act. This chart is the catalyst for this commentary today: http://www.twitpic.com/58o69 . The arrows and my thoughts I added for emphasis here but the lines were drawn long before the resulting candlesticks on this 15 min chart .* Yet, I did not partake.. I did not act and therefore lost out on two very nice short trades, indeed.
I don't care how good you are, your disposition makes a difference as to when and how you notice an opportunity for a trade and how fast you react. I am an optimist and I have a preference for the positive; in other words I like to go long. Maybe I should call myself an Upsidetrader but, alas, that name is taken on Twitter and StockTwits by a very good trader indeed, who happens to like the short side. Go figure.
Nevertheless, I will continue to post my post its, continue to hone my observations and perhaps hire someone to pinch me at those opportune times. Then again, I could just enter my trade on the platform and let it go.. but ouch.. there's the other glitch in my psyche! Who is in control?
More than likely the answer is that we just have to let go and trust ourselves even on the downside. The psychology of the negative is that there is no negative; put that on a post it!
* Please note that the time frames on the bottom of the chart are Pacific Zone and the Price Box is Atlantic Zone.)