We wanted to officially announce that your 4th of July holiday should begin at once! Volume in the market is absolutely horrific, and it seems like most of Wall Street is a ghost town. Tuesday is going to be worse, and I don't expect traders to return until after the weekend. I contacted several of my colleagues on the Street, and they're "all gone until next Monday".
That's our cue to hit the beach. We've had an incredibly profitable run, and we have finished up a highly successful market operation. All of you should congratulate yourselves for showing discipline to buy when everyone was selling, and discipline to sell whenever started jumping on the bandwagon.
The last thing we want to do now is give up our gains due to a lack of volume. This is the type of environment that market maker's can create violent shakeouts. As I've stated on several occasions, successful trading involves finding those environments where your probability of success is high, and removing yourself from those environments where your probability of success is low.
Also, we need to rest up ahead of what I believe will be a rather busy July. We've worked hard to book some solid gains in the past few weeks, and we now need to prepare our mind and body for the next campaign, whether it be long or short.
God Bless all of you. Have a safe and sane 4th of July and please be careful. Enjoy time with your loved ones, but don't do anything stupid. Let's all come back prepared, rested and charged up, ready for battle.
Warmest Regards,
Pej. |
