The Antidote To Whipsaw...
Did you take "something" off on yesterday's gap up open?
If it ain't broke... don't go trying to fix it.
And speaking of "if it ain't broke, don't go trying to fix it"...
"Always take what the market gives you."
And when it gives you a "trading range" trade, stick with it,
until the market takes you out of it... because that eliminates
your greatest enemy -- emotion.
Remember, you can't buy a pullback profitably, unless you
already sold into strength.
And yesterday gave us another opportunity to take "some"
profits and to sell into strength.
Not an exit, a profit taking opp after an uninterrupted
100 point rally in the HUI.
1/2, 1/3rd, 1/4th.
What ever you're comfortable with...there's no one size fits all.
Yesterday's gap up open which took gold stocks to the top of
the HUI's trading channel, was also the time to buy some
puts for insurance.
Isn't it about time you started making money on pullbacks?
What's wrong with making money in both directions?
And keep your eyes glued to the currency market,
because that's the ignition switch for the next move.
Simple blocking & tackling here folks.
No mysteries.
No wild predictions of overnight bank wire failures and
market collapses. No "secret sources". No intercepted
secret memos predicting a nationwide banking holiday
next Tuesday, or a COMEX failure in December.
While we are in interesting times...
Stay grounded in reality.
Everything you really need to know - is already
out in the open.
You don't need any "secret sources" or, special TA sauce.
Just simple blocking & tackling.
Good ole' smash mouth trading.
Mo later,
S.O.T.B.
PS: Nibbled on a little CDE & GSS this morning.
CDE?
What was I thinking <vbg>?!?
PPS: Remember when your mother told you to always wear
clean underwear?
It's the same with stops.
Don't leave home without 'em.
And if we get a pullback here, we sit patiently and let
it come to us... and print mo money via selling mo puts. |
