Bulls Belly Up Day
The plunger caught many longs- and shorts- off guard.
I did not think today was going to be a solid trend down day.
I have learned to identify what needs to be done to change it; and my preference is to assume that the trend trade is the correct one until proven otherwise.
Targets are identified, then we look to next potential targets if we keep moving down the road.
Step by step.
All but one short side target was hit, and that didn’t seem likely.
A measured move has us testing the 1291.75 near that pivotal low.
Wasn’t it just a few days ago that everyone was screaming for 1400+?
The Bear jumps as we have said, so we need to get into the water fall and trail.
Take the heat a few minutes, then ride the water slide.
Many market participants are on vacation, and I will be making a few adjustments in my blog for some much needed R & R as well.
I will try to post a few ideas, but will mostly be in stress reduction mode, and that is hard for me.
I love the focus and clarity it brings to my trading, but it is labor intensive.
Jediphone : RT @eminiwizard What do you call an upside-down Giraffe? Dinosaur tail? / “belly up bull” lol #EMWS / funny E!
If it Rains it pours. Better bring along our golf umbrella.
Let’s say you wake up and plan to do something, like play golf.
It’s a little overcast, but so what. (It never rains on the golf course, right?)
Your partners say maybe we should try for 9 holes, it’s only sprinkling.
By the third hole, even you have to admit it’s a steady rain.
A few more holes, your ball gets wetter (besides hitting it into a pond).
Lo and behold, around the seventh hole it stops raining.
Let’s make the turn…
Hole number twelve, a par three.. and the rain begins again. “Too far away from the clubhouse, let’s keep playing.”
Torrential rains, wind, and now it’s just plain silly.
Good thing we have those golf balls that float…even putting is a bit tricky now.
“Meet you in the nineteenth hole, where we can belly up to the bar”.
“Loser buys the drinks.”
That’s step by step trading.
One target achieved, trend in play, keep playing it with trailers for all it’s worth.
Targets 22, 18, 16, 13.75, 09, 07, 03, 98.
Didn’t get to play hole 91.75.
Cryin’ eases the pain…
I just wish it would Rain…