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Hi Trading Family!
Anybody feel seasick from last week's market action? The market gain a
fraction of a percent on Friday. At one point, I was wearing my "shorts" as the
DOW was down over 170 points. Before I could zip up, I am shedding my shorts for
a pair of "longs"!!!
Days like this make my life as a day trader a dream come true.
That being said, the market isn't done with its games yet. Most of you
know, I don't make predictions. I build ratios based of "what-if" so I am ready
for anything the market tosses out. I am too protective over your cash this
week-end to release a huge watchlist until I have more time "at sea" on Monday.
Repeatedly since Jan 20, I have urged new or unsure traders to stay high
cash and on the sidelines unless you know what you are doing. Those same people
should be active "virtually" for lessons learned. If you can trade in this
environment, you will be a better trader for it.
Some of you think this is still easy -- you believe you have found the
miracle system. I thought that too at one point, but I've learned to respect
Mother Market and her Marketeers! Others watch me move around in trades and
decide to follow without knowing how to manage said trades. That is a dangerous
and costly lesson.
Jan 20 was a turning point for the market --that places me in a different
mode as trader/investor. My position sizes are smaller, my time frames are
shorter and for valid reasons.
Forgive me if I don't shout the banner of the bulls or the bears this
weekend. I have my suspicions; however, it is of no matter, I will still trade
each day with what the market gives me.
Facebook: copperstl Leigh Jones (my BULL$ trading
page)
www.bullsonwallstreet.com
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