Thursday, October 27, 2011

Bull Market in 18 Sessions

It certainly has been done before (just like in Oct of 1998), but nonetheless it is astounding that we now had a bull market in 18 trading sessions. As I type SPX is up 20% from the low on Oct 4th.

I am not fighting, not joining, not doubting, not changing my mind, not doing anything, just watching. I have a goal, a plan, a roadmap, a responsible and well-designed system. Do not buy highs, do not sell lows, do not overreact, do not fight the trend, do not change your mind when a guy on TV says "those who overanalize will lose, it is time to buy, buy, buy". Really Jim C, do those words of wisdom sell your books and attract the viewers to your nightly show?? What a joke!

Yes, I missed every one of these long points from just below 1200 on SPX, but lost opportunity does not equal lost money. As I said on Oct 4, I am done with shorts until the end of the year, but that does not mean buy the highs. Just waiting for my setup, waiting for that specific moment when all of my criteria are met, and turning the stupid TV off.

Waiting for a credible pullback to reload my long. You just can not be in every move. Flat and mad!


  1. The market will come to those who wait. There are gaps below. Sooner or later, gaps get filled. Now, I need your help - can you please recommend someone I can trade ES with? Thanks!

    zen at asia dot com

  2. Hi Zen, yes, definitely no chasing.
    I can suggest a couple of brokers: and
    You should have 2 brokers, just in case one goes down on you.
    Good luck.