No Mas! Covered Today and Going To Wait

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June 19, 2008

Today I decided to cover up and take the hit to my index trading account and walk away. Right now the volatility is creating moves that aren’t aligned with my daily and weekly timeframes. I can’t trade at Rydex comfortably right now and don’t want to risk the great profits I’ve gained so far this year, so I’m going to sit it out and wait for an opportunity to get short or long. It still looks like the next trending move is going to be down, but we never know how long it will churn upwards or sideways before that move gets started.

Lost 3.2% in the NDX today and lost 2% in the RUT…crap!

KWK dumped another 1.5% since I dropped it and SRS closed down 4% today.

The pink elephant in the room is that support line.

Still sticking with SRS here.

I gotta do another stock list soon as it looks like there is rotation happening out there. Take profits in the CLF and JRCC’s of the world since they were added to the watchlist on the left, they are up HUGE.


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  • http://www.youngwithbux.com john

    I gotta say, i think the market is bottomed out. The Dow for example has bounced off 1200 for the third time this year. Triple bottom.

  • http://www.youngwithbux.com john

    I gotta say, i think the market is bottomed out. The Dow for example has bounced off 1200 for the third time this year. Triple bottom.

  • http://www.stockrake.com Sensei

    Might have, might not. I hope so. I’ve been riding the long train since late March and its been easy money until now. The upmove does appear to be in jeopardy though, but not guaranteed yet until we break.

  • http://www.stockrake.com Sensei

    Might have, might not. I hope so. I’ve been riding the long train since late March and its been easy money until now. The upmove does appear to be in jeopardy though, but not guaranteed yet until we break.

  • http://www.stockrake.com Sensei

    John you still on the market has bottomed campaign?

  • http://www.stockrake.com Sensei

    John you still on the market has bottomed campaign?

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