What an amazing rally. Considering the Fed lowering interest rates is a signal that they are telling us that the economy is in a LOT OF TROUBLE! it was shocking to see the rally today. I am literally beside myself that the Fed could slash rates so much clearly telling us “doo doo is about to hit the fan” and people bid stocks higher. Whatever. I don’t care what the market does as long as I can make money and right now I can’t make money (I should have taken my ETF and futures trades) and that means to me that cash is still king. If perfect short setups can’t succeed and new longs fail, what is the point of putting my money on the line to invest in this stupid market. It is pointless. So I am raising more cash and will be back to 95% cash praying that this rally either turns into a big bull or waiting to go short the failure of this rally which I assume will happen. Either way, it doesn’t matter really. I just want my picks to work like they used to. Right now, I am starting to get frustrated. We have two new longs tonight and if these fail, I am going to go 100% cash and just wait for things to setup right. While the market stays in this range it has been in the past couple of months making investments is just stupid. Be careful with the two new longs and unless you really feel compelled to take these I don’t know if I would. I am keeping them both very small. If I had a million dollars, I wouldn’t invest more than $10k in each. Be careful out there. This market is psychotic and makes ZERO sense. This is unlike anything I have seen. I have never seen stocks try to setup, breakout, breakdown, then try to rally. Insanity! This market sucks.
new long positions: DCM TSYS
DCM is breaking out of a short high tight handle area, after a strong uptrend, on extremely strong volume. Cut your final loss with a close below the 18.43 level, if the stock does not move higher immediately.
TSYS is beginning to breakout of a loose cup with handle pattern, on strong volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
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