Lately I've received a few emails asking me to post what stocks I'm moving into rather than having you wait until the end of the day and I've obliged. I typically don't do this that much as I certainly don't want the appearance of impropriety with respect to goosing a stock I own. You know, the old pump and dump trick that so many are guilty of. Trading positions change all the time. Yesterday I was buying the oils but after looking real hard at the charts last night, there were those five I mention earlier that I decided were not right to be in. Since that post I have rid myself of three of them. I'm undecided about how long I keep PKD as it could get a nice move if it pops above $9.25 or so. ARD I'm just waiting for it to scale a bit higher to leave undamaged.
I generally tell you what I''m doing in a more broad fashion. For example, I've actually took on some individual short positions in the last half hour as this market has scaled even higher. 1270-1275 SPX is a measured move target and we are starting to get mighty close to that target. I'll likely be scaling into move ETF shorts on Friday as well. I'm just preparing for the pullback and though I may be early, I'm rather certain it's coming. I expect it to be a fast and hard one and you have to be there before it happens. Of course, you can't get there too early or it will be meaningless, but we have been patient and have waited for this market to get really extended which is what we are seeing now.
Now I can't tell you that this or that will work with certainty. What I can tell you is what I've always told you ... it's just the way I trade. It works for me. It makes me money and as a result, I continue to do what I do the way I do. If it works for you, great. If you adapt it to fit your style, even better. The key is finding what works for you and trying to perfect it. That's what successful trading is all about.
I generally tell you what I''m doing in a more broad fashion. For example, I've actually took on some individual short positions in the last half hour as this market has scaled even higher. 1270-1275 SPX is a measured move target and we are starting to get mighty close to that target. I'll likely be scaling into move ETF shorts on Friday as well. I'm just preparing for the pullback and though I may be early, I'm rather certain it's coming. I expect it to be a fast and hard one and you have to be there before it happens. Of course, you can't get there too early or it will be meaningless, but we have been patient and have waited for this market to get really extended which is what we are seeing now.
Now I can't tell you that this or that will work with certainty. What I can tell you is what I've always told you ... it's just the way I trade. It works for me. It makes me money and as a result, I continue to do what I do the way I do. If it works for you, great. If you adapt it to fit your style, even better. The key is finding what works for you and trying to perfect it. That's what successful trading is all about.
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