Thursday, March 11, 2010

WOW!.. Look at that Big Bull AssCarGo!




"Is it over?  Are we done?  Can I go now?  I really have to and want to go right now.  Any more sell it to the Joe Shmoe left?  Time to go?  Yes??"




Opposite to my normal self – I found myself not willing to analyze today's action any more than I have analyzed different possibilities during last few days.  Yes – I am slightly disappointed with "death" of w-2 of possible new sequence down (that target of 980 was real sweet for trading pullback), but beside that – we have something that is not so easily modifiable as D-Wave – we have Sell Setups on multitude of ETFs completed today.  Yes – I am biased – because I am short right now …100% net short, no hedges, stings like hell, but IF I had to re-open positions as of today – I would do the same – I would go short now.  And I did add "lotto" play – Mar 114 SPY puts.

Yes – I am starting to get angry and I dislike it, in order to compete in this business emotions has to be left outside of trading room… but it takes certain toll on my psyche that this last few days rally was fueled by the last POS on the face of the Earth, smelly, stinky  C.

Shall I lose my bet (on the short side going into OPX week) – I will stop trading for 1 week first, that is one of the only genuine advantages retail trader has – I do NOT have to trade and will NOT resume trading until I will get back in sync …with myself… I was really over thinking a lot of trades lately – and it should be really simple.




Added 2 WallFly's charts + 2 Ninja generated

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2010-03-11_2050 2010-03-11_2054


Economic Calendar for Friday

Retail Sales
8:30 AM ET


Consumer Sentiment
9:55 AM ET


Business Inventories
10:00 AM ET


Tim Geithner Speaks
12:00 PM ET

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