Lessons

1. If VIX is under 26, buy the dip. If VIX is over 26, sell the rip.

2. Always trade in the direction of the larger trend. Find the strongest trend in your time period.

3. Nothing as bearish as a failed breakout. Nothing as bullish as a failed break down.

4. Don't worry about the last dollar. Take your money and go to the beach!

5. No more than four positions at a time. Preferably 2-4. Scope out others. Pick the strongest.

6. Buy the strongest; sell (short) the weakest.

7. Nothing is guaranteed. Nothing.

Thursday, November 8, 2012

Will short Financials on Bounce. Holding NUGT.


Average price on NUGT is 14.8 now.  This is my largest position.  Looking for 25 or so as final target.

Also long AGQ.

I am long TQQQ at 50.8 and 48.4.  Plan to sell around 51.5 - 52 range.

Looking to short financials via FAZ.

SPX going to 1300, after small bounce.


UPDATE: CHANGE OF MIND: Will get out of TQQQ tomorrow. QQQ going to 61.5 before bounce.

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