This Is Why I Told You To Watch Out For Bearish Noise

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August 21, 2009

I was raging the other day and left that post to sit. Do not fall prey to noise. It was a critical spot and all this week it has crushed the bears who set up shorts under SPX 1k and under 989. I was yelling at you people (who never comment or ever hear from to not listen to the noise). They were wrong.
http://twitter.com/wwwstockrake/status/3412502399

I sold my longs today in the NDX and RUT banking 4% in the RUT and near 3% in the NDX at the 10:45 opening bars. There was a little more juice into the close, but I didn’t care as its been a near perfect trading week.

I also took profits in a few of the stocks I purchased back in July 20th.

I sold AGO at a 51% gain today.

I did not mention over the past two days that I took AVII off. Some positions due to my extra buy failed at -31%, -20%, -4%, and one bit of AVII I took off the day before the big one day drop at 7%ish gain. I want to give the losers with the winners. Another loser that I cut was RAE. This was mostly in the -20% area.

I sold CSR today around -7% loss.

I still have TWER at 19.7%, 15%, SFE 22%, 22%, SII 9.5%, ISPH 16% (recent add on buy – have to follow twitter), IPHS (different symbol by one letter) 5.9%, PDC 5%, WRES -1.6%, MFW 8%, NRF 27.7%, NG (bought yesterday) 2.8%, CHINA 9%, IPAS 0% and TSO new buy at the close today.

To anyone who blames the PPT, hedge funds, or other bullshit excuses for this market move, I say this:
Don’t put the blame of you not understanding why the market is making a move against your signals on some third entity like hedge funds squeezing, the ppt, or some other excuse. That is for rookies to do. It never matters. The market making a move is the market making a move and it won’t help you one iota to place blame on something you could never explain in your lifetime. While you watch the train roll out of the station and see the smoke puffing in the distance you can kick the dirt and blame whoever you want, but remember that it will be you left at the station.

You will become a better trader when those bush league stock market excuses are let go of.




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  • http://scalptrading.blogspot.com singh

    very nice article so many people scared the helll out me with bearish thoughts that i sold my august 4 C call i had 200 at .03 cents at .16c i was so stupid could have turned 600 into 16000 today if i held.
    I wished i had never followed too many people on twitter. have u seen bullsonwallstreet.com? real cool

  • http://www.stockrake.com StockRake

    Seems like another twitter aggregator ala StockTwits?

    The bearish noise was off the charts in the last 5 trading days. They got blown out today. There is probably a little more squeeze before a decent correction kicks in.

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