Other than last Friday, I have made no changes to my TNA TZA swing-trade. And it is a real pain in the account. The market keeps going UP UP UP in the face of bad news and obviously with good news. It is irrational but to paraphrase a wise man, "Markets will remain irrational longer than one can remain solvent."
=======
As of today's high print in TNA, with the exception of one day in August 2011, price is further away from it's 200 day moving average than at any point in the past four to five years. That includes the throes of the market crash of 2008 into 2009!
This run with very little pullback is a tremendous anomaly. This is why I'm holding. And the market moves up to inflict as much pain as possible in order to drive out all the shorts, before it retreats. So it goes higher for now and will continue until the weak hands are beaten into submission. This is the basis for the old market adage, "Your first loss is your best loss."
=======
On the bright side, I have been doing well trading in the retirement account, with recent gains of $100, $460, and $390. However, my opportunities are limited because it is not a margin account; funds must settle after a trade before being reused.
No comments:
Post a Comment
Thanks for taking the time to comment. I'll review your remarks and post on the site assuming they are respectful.