Thursday afternoon report:
I sound like a broken record, but accounts are in all time high territory again. I've only had 2 trades today, but both were winners, as I shorted the morning spike higher, and then got long the OIH for an acceptable profit (not great). Since then, I'm biding my time, and have been fortunate to not be involved in the huge selloff that started around 11 am. I still urge caution to not chase moves, but especially on the long side, as it could bury you. Not sure if I'll get a signal/trade the rest of the day, but I'm here and I'll let readers know. Smells like some big negative news is on the horizon, and as such, I'd rather short rallies.
Trading accounts equity less than 0% from all time highs set on 10/23/08. (includes open positions)
