Re: The Game
It has taken me a long time to wean TM out of the concept that if you're not in the game, then you are out of the game. He is a believer. The game is very simple in the bear market. As long as the Bears are in control of spin, buy near support and get the Hell out of dodge near resistance.
Little press was played to the fact that the Big Dude in the Sky, AG, said that 1) we are not in a recession, and 2) the probability is low that we will be in a recession. It was important to watch the move up after the release of His prepared text, and the move down when He finished and the spin took over.
Because of the time factor that it takes me to put the Phleet out to sea, I'm tempted to enter the orders now. However, I've decided that I'm going to wait. (I'll probably commit a 25% portion) The rest will wait. I'm just convinced that it is better to be on a drunken binge in port than be subjected to the potential high seas out of the safety of the harbor. I've got the downside projection on the Cubes at $54.30; however, if we break that line in the sand, it will get real bad, real quick. The key will be the Fed action on Tuesday. I've noticed that with a positive action the market is subject to the other whims of news, but with a negative action the results are assured.
JMHO and BWDIK
TB |
