Option Addict | Comments Off | "Perhaps You Need a Refresher?"
Thursday, May 22, 2008 at 08:32AM Listen, I am only going to do this once, so pay attention.
I realize that market tops and market bottoms have always provided the best forms of entertainment and drama. It is at these points where people will disagree the most. I remember dealing with this back in the summer of last year. I constantly made the comment that "The Recession of 2008 Starts in 2008," and was very open about how extremely bearish I was near the market highs. Conversely, I got a lot of shit back then too. I don't expect these trends to change. It's the price you pay for putting yourself out there. It's worth every penny.
However, it seems as if over the last week or two things have come to a slow grind around here. You all know that I refuse to put up with that, so let it be. I could care less about your opinions, I care about making money and providing that luxury to my readers. No more bullshit comments about this ridiculous "Melrose Place" atmosphere. Anymore comments that are not about trading today and I will effectively banish you back to the Matrix. I reserve the right. In fact, if you haven't read the Option Addict rules/objectives in a while, read them again.
When I woke up this morning to a lot of "entertaining" comments from NYX shareholders, I found one that I liked. In fact, I have been thinking over and over about this one for nearly 5 minutes...
"Your trading style is, I think, absolutely terrible for beginners."
Has anyone ever read the link on the left, "My Trading Style?" If you have not, perhaps you should. As a swing trader, I move fast, and timing is of the essence. In the end, I am not as concerned about market direction as you might think. I trade with the trends of my individual positions, not the market. Let me elaborate...
Ever notice that I tend to provide as many bullish ideas as I do bearish ideas? I feel have been consistent in my themes, and these themes continue to work. When the market was falling months ago I was short healthcare, financials, homebuilders, REITs, etc while simultaneously being long commodity producing stocks, gold, food companies, brazil, energy, etc. All of which worked.
Recently while the market has been rising, I have been long natural gas, oil and energy service stocks, solar, and technology stocks while simultaneously being short banks, refiners, various retailers, exchanges, and casinos. All of which worked.
Do I lose money in between?
Yes, but not that much.
Going forward, my stance remains the same. I will continue to do my thing. It has provided many profitable years over the last decade that I have been trading and I am not going to change a thing. I am in a zone, and I like being there. I don't explain myself all that often, but I felt it was due today.
In closing, I have taken my CSIQ profits and bought 2 tickets to Mexico. I am leaving tomorrow. The good news (for you), is that this time I am taking my laptop with me.
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