Thursday, June 9, 2016


I an new at this blog stuff and I have more going on than trading. I will get better as I get my time more organized. I look at stocktwits from time to time. It is entertaining. There are a few folks on there that I really do respect their opinion. Most are just trying to find their way through it all and not look like an ignorant ass while they are figuring it out.

A word of caution. Be careful listening to experts, guru's, analyst, media icons, the media, your barber... and especially bloggers. Learn technical analysis and form your own conclusion. The media, analyst, and guru's are not reliable. I think they tend to guide the sheeple into a direction they want them. To succeed you have to be able to see it for yourself. What were the experts saying during the credit crisis? Trust none of them.

Onward... well here we go:

Wednesday I sold my position before the close. I was up over 20% on my position within a few days and it felt as though it would pullback. I reentered the same position on Thursday at a lower price. At the close today the new position was up 4%. Holding overnight is a risk. Right now I feel it is safe to do so, but do not plan to hold over the weekend. What I expect tomorrow is a push past 212.76 and more than likely past 213. It should have pulled back today, but it went back up to R2 on the hourly. It looks very bullish right now.

I am holding a position in BAC right now. I am down about 20% on it. Should have already sold this position. The chart is bearish. It's too low to short as well. I am going to hold for now. I think the financials will pull back up soon. The weekly chart suggest it will be up next week. The daily, not so much. In my opinion, going long here is money in the bank. However, it could go down some more. Better to buy when you see the bottom. Which could be as low as 13.75. I would wait for a good entry on this one before I went long.

Good luck for now. In the future I will post more charts.

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