At least on SR it will be. Last year I went long on the 2008 slide based on some oversold indications. At that time I posted some charts that showed only a very few times the market became that oversold. It was the case of who blinked first. I blinked and now I will explain.

When I take oversold or overbought related signals I often have to wait and sit through being on the wrong side for a few days, sometimes a week or two even before the move happens. Many many times I have given up on those plays due to pain in being wrong in the short term only to see these trades end up working out in a big way after my exit. All the while the reason I got in was still on the table. More recently this happened with the gold short, nat gas long, AIG calls. This is why I haven’t given up on MS and C because they will work. Its a matter of time.

The issue I worked on this year was not getting involved in something like what happened in 2008 and dedicated myself to my trend signals.

It doesn't get any schmuckier than this.

-I went back long the index funds today – half position.
-Took gains in AXL, CYBS (Some short term sell reasons)
-Sold breakeven to slight loss due to commissions: CMG and PLM (No sell reason, just finding immediate opportunity)
-Bought CQP, added to BZH, added to ROYL, added to ABAT

I’m proud of the CZZ trade. This puppy flipped 6 times from buy to sell and finally back to a buy last Friday. If you give up, you don’t profit. Today CZZ broke out. This back and forth shakeout happens when a big move is coming. Based on where CZZ is right now (8.5) this would be a new weekly closing high and have cleared nearly 15 months worth of trading.

Thanks for reading

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