Hi Dealer: Smart execution on your part. When you feel a position may go against you, get out. Live to trade another day.
Market has no rudder. No conviction.
Careful.
Patience.
Read what appears to be solid arguments for summer rally.
Read what appears to be solid arguments for summer sell off.
Bottom line, nobody knows. Gurus are still all over the radar screen and have tried to square root this thing to death and can't do it.
I don't usually read other SI threads much. I stay in the Porch neighborhood. I did venture out and read some posts yesterday on SI, and some of the regular gurus were forecasting everything from gap down this morning to slow decline during the day today. Bet they are scratching their heads now.
Again, my point is, nobody knows with this current market. It's just hard to predict.
Consequently, I'm sitting on my hands today. Not in any hurry. Timing is critical for the swing trades. I'm not going for a home run in this market, nor do I have to be in the market every day to get my 20% play for the month.
Besides, for swing plays, you don't have to be a bear. You don't have to be a bull. Just play your swing. If you do best playing it long, fine, that will work. If you're better playing it short, fine, that will work, too. Give it time to set it up, then have the guts to execute.
And BTW, I'm sticking with the QQQ's for the reasons stated the other day. Have not changed my view in that regard. I'd like to see the market go hard in one direction so I can set up to play the other side. I was sort of hoping for a gap down and a test at the 1950 area so I could go long.
Now, I wait. Going to lay in the hammock...... patience, patience.....
RR |
