TRADE UPDATE – VOG
Bought VOG @ 4.50 - 4.55. Reviewed on "The Gun" last night. http://www.zenpenny.com/?p=1292
THE GUN: 3 NEW LONG OPPORTUNITIES THAT DESERVE YOUR ATTENTION
click on the charts below to enlarge
TRADE UPDATE
Have taken a medium sized trading position in N at 28.85 - 28.90. Details here.
QUICK THOUGHTS
- Have done nothing with any of "The Gun" trades. Reason being that the volume just isn't there to justify a long position. Doesn't mean that a trade will fail when a trigger is hit on light volume. It just means that the chances of success are not as great. - Strange market today. A very narrow trading range. We simply gapped up and have been sitting around the same levels. - I feel that we are going to chop around a bit here for sometime. If you enjoy trading over the very short term, it's time to look for shorts into a move like this. - The names in our portfolio continue the long consolidation process. Most of them are sitting at the lower ends of their consolidation ranges. These are long-term holdings. As I told members this weekend...when the names within our portfolio do decide to move out of their respective ranges, they will bring in exponential gains in a short period of time. I expect all of them to realize their value over the...
LET’S GET LAZY
I haven't been updated "The Gun" lately for a very simple reason.....trading opportunities are few and far between. The long setups I had been watching over the past couple weeks have broken down given what we have experienced in the market recently. And short setups? Well, they are susceptible to days like today where the squeeze is applied with painful precision. That leaves me with nothing to do. Having nothing to do is something that we, as humans, associate with laziness or complacency. Basically, when we have nothing to do we feel that it's because we haven't been working hard enough. This is a good line of thinking if you're a postal worker, as there is always new mail to sort. It's a good line of thinking if you're a paper pusher, as there is always new paper to push. And it's a great line of thinking if you're a sales guy, you can always search for new leads. If you're a trader or investor, however, it's financial suicide. Yet another example as to how the financial markets run contradictory to every emotion, whether learned or innate. It's an aliens game that a bunch of humans are trying to play. A group of midgets playing in the NBA. A gang of nuns trying to feud with the bloods and crips. The markets are one of the few places where you are penalized for working hard. You begin pushing trades and creating scenarios that don't exist, instead of allowing trades and investments to come to you. Being anxious to find trades in order to stay busy just isn't good business in this arena. Have some patience. The opportunities will come. In the meantime, if you feel the need to work hard...go to the gym, go do some volunteer work or run a lap around the block. You'll feel better about yourself and your portfolio will thank you, as...
THE GUN – NO NEW UPDATES
Trading opportunities across all sector remain sparse. The risk/reward equation that we search for in order to enter trades simply doesn't exist with all the chop we have seen recently. Ranges are expanding. Risk is increasing. We'll wait it out. Still in OVTI short, of course.
