Well -- this was a fine month indeed.
I doubt it will ever be quite so easy. I traded back in 99-'00 -- the net bubble days. I'm guessing many younger traders didn't. It was so easy back then -- stupid easy -- like it is now.
When this bubble ends, it'll end abruptly, without warning. It could have started today. The Fed can't keep the game going indefinitely.
Many of the stocks I rode to glory like CSGH.ob are massively overextended and put in terribly bearish candlesticks today. I sold about half my CSGH.ob the past two days but I really don't want to hold through a 30% draw down. I might though. It's a long term holding.
BSPM.ob had a massively bullish candlestick though. I sold some but now regret it. But everything looks toppy.
Some great traders I follow really seem to be more about "instinct" over some kind of formalized trading strategy. They're good at sensing things and pouncing. Or reversing course. Some of the good traders I follow have recently raised cash levels significantly. So have I. They are sensing the volatility. Today was a good example... lots of whipsaw and a red day -- back to back.
Look at the $VIX chart:
If that were a stock -- I'd buy it -- it's right on the cusp of a huge breakout. I tried shorting on Monday and it was a disaster but once again -- I was merely one day early. I usually just panic too early.
All in all, I'm kind of exhausted today. I feel like taking a day off. The volatility is making me edgy. I feel like every stock is a big trap waiting to suck me in.
I still would like to make one big day trade this week. But maybe I shouldn't push my luck. I will just be patient, that's all. I don't need to be trading.
Some names I like for long term at nice levels: EGMI.ob I will buy more if it tanks. Great story. But right now -- I'll just be patient and see if the market provides any slam dunk set ups I can take for a short term trade.