Congratulations to all those who locked in profits. The key words here moving forward ARE, "patience test." At this juncture, this becomes a tougher play. We are in the ebb/flow stage after a HUGE run-up overt a short span. That's why I place a two-fold emphasis on all my trades. Fundamentals and technically. Technicals are equally, if not MORE important, especially the capitulation before, then during and after a big run. I learned the hard way early on, don't catch a falling knife. After being burned, I asked the question, WTH just happened? My mentor had one simple answer: "More sellers than buyers." That's stuck with me for life.
Moving forward, I've learned to look for technical support levels (MA support vs. resistance), gaps, etc., pay strong attention to charts, tighten my trades while moving up, and if she starts to move, dial in closer to 1, 5, 30 day charts vs. the big picture view, AND always, always pay attention to Level II.
I don't know WTH happened yesterday on the board. All I know is there were well-over 500 posts and I barely looked at a one of them. These past couple days have been very busy and will continue to be very busy me for the next few days.
Happy hunting and I'll tune in when I can.
My best to all!
BN
