http://www.stockrake.com

Do you notice I’m trying to create the most capitulatory headlines I can possibly make? Well I gotta admit, this is starting to get to me. I was a hair away from capitulating today and not waiting to see if my move would materialize. I was more scared when the Dow was -200 then when the Dow got to -600 because I know its going to cause a move soon. Today’s action just made any long or anyone on the sidelines think the market will NEVER print an up day ever again.

Very tough not cover my materials positions today with them getting slobber knocked, but I stuck it out. I’m going to save the rundown for another day, but its clear I should have taken the 18% gain in CLF.

The dollar continues to work and I had it pegged so long ago, just wish I stuck with that trade. The short gold trade was also spot on, but I’m not on board that either.

So many people all across the blogosphere and off are talking about this range and triangle the market is trading in. I’m shocked how well the market is following such a well talked about pattern. The other thing that remains shocking is that when was the last short squeeze? I can’t remember a time ever where after seeing this kind of volatility shorts didn’t get ringed out before the market could selloff again.

Related Posts