We have to make our plays in the direction we believe the market is being manipulated. Like when UYG was $14 last week and the average person thought financials were dead. Perfect buy signal and ended the week gaining 50% in 4 days.
Learn to be a contrarian thinker/trader and you'll prosper.
But you are right, it is like kiting checks.
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Yup. Night is darkest right before dawn...
This is def. that % of 'having the guts' (and brains) to go against what the masses are saying (i.e. 'financials are about to crash and UYG is gonna collapse' or 'the bottoms in'). Nobody says the bottoms in when it's really in!
As Joe said, UYG last week was a perfect example.
what are the thoughts for this week. i'm in oil long and miners. oh, and a little SKF.
I added SKF near the close Fri, AUY, AZK, EGO and of course...QMNM!!
I expect a bounce in oil and gold.
Financials, who knows - starts off with BAC on Mon, and we go from there...
Trend is still down IMO.
Joe,
I made back over here. Only able to post from home. I will follw along and keep you updated on how things progress. Added QMNM at .018...250k now. closed out my UYG/SKF postions nicely. UYG was good to me last week. Right now I expect to be shorting the market in general over financials only. also long auy, slw, dpg
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