market gapped up huge but it was actually a trend DOWN day intraday despite TREND UP day internals. Thus -- selling the open was the right call.
I sold STJ/HAS which both closed lower and got out of DWA after a bounce instead of selling the open. Easy money should be taken because there is no easy money.
Stocks like GDXJ -- were up 3 points from my original entry last week. Biggest problem is being patient. I took the heat. Take the reward too. The market will mean revert and you must trust yourself and the mean reversion process.
I did not trade futures although I made a few nice calls. It was hard to go long since most of the day was trend down. So patience is okay. There were big moves in commodities/ferts. Trust your valuation process.
Probably 90% of my buys end up going green but I probably sell half for a loss. Think about that. The key is to keep position size smaller to hold on.
No comments:
Post a Comment