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An absolutely huge intraday swing to the upside hits now. And that’s why we don’t panic at the lows. I did sell some WFC puts and I bought some Apple and Visteon at the lows of the day. The portfolio is now up huge on the day too.
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It’s slippery out there. And the path of least resistance seems to be down for now. Take a look at how the markets just keep fading lower intraday today (again): That is tough to fight guys. Stay in the game, don’t panic. But don’t fight this too
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And that’s why we don’t try to catch an exact bottom. This market is going to have to rebuild some base and maybe even just settle down to some daily drips before we really see a sustainable kind of bounce. This morning’s early rally obviously was not
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Power down the computer. Shut down the Bloomberg terminal. Turn off the TV. And go take a walk. You won’t see a 5% intraday sell off in the Nasdaq very often, and if you’re shaken up after today’s sell off, there’s a darn good reason for
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Okay, heading into the close, I’ve done a few more trades. I did sell a fraction of my puts in Wells Fargo, mainly to lock in a 50% gain after just three days. You don’t get returns like that very often and this gives me some cake that
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A snapshot of the headlines says a lot. For what it’s worth, only James Altucher and I seem to be wanting to buy this market on this crash. We could both certainly be dead wrong, but I’d rather be a contrarian. Matter of fact, contrarianism is a form
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Yesterday, I met about 100 of our subscribers in the chat room at TradingWithCody.com/chat and we had a blast and learned a lot. Here’s the transcript, lightly edited and condensed. We also organized the transcript so that general market/investment/trading/strategy questions and answers are at
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I do think it’s a better time to buy than to sell right now. Easy does it though. Trying to catch a perfect bottom is the quickest way to getting wiped out. Meanwhile, there are some very important psychological lessons to today’s action. Do you feel sick to
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I’d written earlier this week repeatedly about how the hardest trade to make had been no trade at all. Not trading at all was particularly “hard” since we had raised so much cash at the highs just a few days earlier. If we stay with the concept that the
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Sailin down the river in an old canoe, a bunch of and an old tennis shoe. Out of the river all ugly and green, came the biggest old alligator that Ive ever seen! Teeth big and pointy and his eyes were buggin out, contracted the union, put the beggars to
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Investing well is as much about selling as it is buying. Sometimes you have to take profits. Sometimes you have to stop yourself out on a losing position despite your high conviction level.Investing well is as much about selling as it is buying. Sometimes you have to take profits.
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The markets have stabilized, at least intraday here, and the Nasdaq has even climbed into the green for the day. The S&P and DJIA and the market’s breadth just turned fractionally positive too. I bought some more Marvell calls dated out into February 2012 at and around
