JUST NOT MUCH THERE FOR ME RIGHT HERE
I detailed why I exited this trade early last week, and it was lucky in all honesty. I should still be in the trade, looking for a dip to get out. As a result I am likely going to wade back into this one tomorrow. I have not yet completely decided. Having my father in town takes so much time away from my trading, I wind up burning the midnight oil making my final decisions on things.
I have gotten some new glossary definitions that I think most people will be able to relate to. First, PALMING. This has traditionally been a basketball term for mishandling a dribble of the ball. My new definition of it is when my father takes his hand and places it in the carton of blueberries handling virtually all of them before choosing the select few he will eat, then throwing the others back into the carton for everyone else. The move gets even better when he takes a pee first, fails to wash his hands, then comes into the kitchen to palm something. Don't get me started on the double dipping with the chips and salsa.
The second has to do with watching sporting events. A loss has previously just meant the game was played and one team one and the other lost. Now it has be redefined as a referees decision to screw the team he wants to win. I have yet to see a team he has rooted for lose a game without it being the fault of the referees, and that includes the Clemson/West Virginia game! It was a small detail that West Virginia scored 70 points. Only a bad call be the refs determined that outcome. Aye Carumba, yet get the drift.
I know this seems like I am picking on him and I suppose I am but I thought some readers might be able to relate to this. I have explained my new stock trading approach to him. I have showed it to him several times. He still asks if I am using it, what it is etc... All of this got me to thinking quite a bit about the following. Life gets so complicated at times, and it is returning to the simple things that help makes us more happy and more successful. I spent the last 2 months trying to trade more to make more money, and just could not find any really good new techniques other than the stock trading method. It makes me realize, that I really do not need too. I do fine doing what I do, being patient, and "letting the game come to me." I hate that phrase, but I have to admit it is applicable.
I do see several markets within a day or two of being very nice setups by my rules, but none of them for tomorrow. I did some day trading last week and made a little bit of money, and I am just going to fill up my time doing that, until the larger money makers show up. As I watch the stock market stay strong and just keep crawling upward, it does remind me to be careful of fighting these slow markets that are trending. Every little small dip gets bought. I have covered why I think the stock indexes are due to come down some, and I have not changed my view on that at all. The conditions I based that on are still in effect. However, this does not mean just blindly going out and shorting this. I do not have any really good setups that have triggers for tomorrow. There is one marginal one, that is a half assed triple divergence in one indicator I use.
It does not have great probability so I am content to just participate in that if we happen to go down tomorrow, by some of the stock trades I am doing on the short side. I did enter the TAL short today, and that has an exit tomorrow at a close of 30.94 or less. I have a few new ones that I am looking at, but I am going to stop listing all of them. We will just track one or two at a time.
I wish I had more, but I do not. I am waiting hoping the next day or two behaves itself and sets me up in the markets I have been mentioning in here in the last week or two. I had a buy order in for Silver today, but the market never traded up high enough for it to fill, so no go there.
Good Trading and no PALMING!