I might prefer to see a little more “steady betty” and a little less “volatile Veronica”…

“Mental toughness is many things and rather difficult to explain. Its qualities are sacrifice and self-denial. Also, most importantly, it is combined with a perfectly disciplined will that refuses to give in. It’s a state of mind-you could call it character in action.” — Vince Lombardi

Impressive rally so far today, but…

But I think the bulls should want this to slow down just a  bit here.  I did write last week about how I expected this rally to be the type that keeps the bulls from buying in and keeps the bears scrambling to cover and that’s exactly how it’s played out thus far.  But the major markets are now up over my 2% threshold for bringing out the dreaded “dislocation” term.  But that’s what we’ve got here — the major markets are all up about 2% and the Nasdaq’s trying to pop 3%.  This pop brings nice green to the sheets today as our purchases and longs are continuing to kick in, but I might prefer to see a little more “steady betty” and a little less “volatile Veronica” in the broader markets.

As for trading, I’m continuing to let our positions play out for us.  The playbook has served us well thus far, and it says to let it play out for now.  So we do.

We were disciplined enough to buy when others were panicking, now we must remain disciplined as the plays play.

Archie: Betty, you’re a beautiful angel. And Veronica, you have the biggest wardrobe in town.
Betty: Angel? You want me dead?
Veronica: Big wardrobe? You think I’m fat?   — Archie Comics