Market, Trade and Chat Notes

I initiated a few shorts on the morning bounce (DRYS, LEH). I bought KGC, a gold stock for which I had a buy stop in place on breakout of $21.

Tough Market:
Four of the six people I’ve had private chats with have said they are having trouble gaming this market. My first question has always been “why?” The answer seems that many either have trouble shorting breakdowns, or cannot get out of the “buy the dip” mode. While buying dips has worked, one must recognize market sentiment and accumulation/distribution patterns. Another key point is sector strength. I hope to discuss this more in the coming days, possibly via video webcast.

I’ve narrowed the number of blogs I read, but The Kirk Report still tops my list. He has a good post on using tight stops. Personally, a well placed stop saved my from taking a big loss on my BIDU trade.


One thought on “Market, Trade and Chat Notes

Add yours

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create a free website or blog at

Up ↑

%d bloggers like this: