Everyone Has Their Scenarios, Its What We Do
Everyone has their scenarios. I saw this move coming, but I played it wrong. I was thinking we would get an intraweek dip that I would buy and ride the blow off top. Guess what? We got an intraweek dip that came only on an intraday basis. Really weak dip that broke previous day’s high was the clue. This was one of the biggest moves inside this entire uptrend. This tends to happen at the tops (I’m not calling a forever the trend is dead top), before a PB ensues. Its like a cherry on top of a sundae.
I covered my index shorts this morning and before anyone thinks I’ve suffered greatly by being short, the amount I was short was so miniscule it almost isn’t worth blogging about, but since this is like my trading journal…Most of the damage was contained by getting out this morning before the RUT proceeded to go on a 2x 5% rip. Boy do I wish I was on the right side for today.
What did well today again was the 7 stocks that ripped. URZ had a big gap up of another 10%. I reduced my URZ position the largest of any reduction yet and snapped off 125% gain. Later in the day URZ reversed all its gains (could still move higher now). The reason I sold/reduced was huge gap up into an overbought condition from yesterday. I also reduced DNN, AUGT, for 60% and 48% gains. I took SIFY back down to a lower level, I keep messing with this one. GBG and CGR have done well lately as well. GBG hitting some
The financials I talked about yesterday with its RSI breakout had a big day today. This is the warning sign for year end imo. Their chart patterns are making a big change here. However, I still believe the market pulls back first. My theory was right, my execution was wrong on the indexes. My dedication to my stocks system is paying off though and I’m pleased with that. This portfolio is outpacing the index performance quite nicely up around 35-37%
IAG also broke out today. I rebought SOLF its acting according to my original plan before I got thrown off. Probably based on OIL’s move solar is picking up. I also bought a position in this little gold stock: BRD