Out here in the fields…

And that’s just about a wrap on another crazy week at the markets.  We’re into the contra-hour and the day’s steady rally has…wait for it, wait for it…held.  Yes, we’ve actually had some steady, non-dislocating action in the markets today.  That’s probably a good way for the bulls to head into the weekend.

As for me, no trades today and that’s fine.

As for the playbook, I plan on selectively and patiently scaling into more longs, using mostly common stock, on any weakness from here.  I also plan on using the new cash I’ve added if we get another big down draft.  And I plan on selectively and patiently selling our longs and adding to our shorts on any big rallies from here.

Steady as she goes, mates.

And to finish, how about some, shall we say, “deeper” lyrics than those I chose to start to today:

Out here in the fields, I fight for my meals I get my back into my living I don't need to fight to prove I'm right I don't need to be forgiven Don't cry, Don't raise your eye It's only teenage wasteland

This is trading.  And we don’t need to fight, to prove we’re right or to be forgiven.  Just preserve, profit and protect your money.