Be Prepared for a Bounce

{+++}Today was a great day, MTB worked and hopefully will continue to work ( I called for a sale of half for a 2 point profit on twiter) if the financials continue to fail, but they are probably due for a bounce. If they don’t bounce it would validate my thesis that the market is more messed up than people think. VFC is still trading like garbage which is good for us and I am looking to cover the balance on any further weakness. SPG was sweet too, if you had a chance to short it.

Please take profits in this market, nothing goes strait up or down and with these gyrations it adds up hitting singles and doubles, we have had some home runs too. I do my best to communicate exits on twittter but at the end of the day I am trusting you guys to decide your own exits. Profits are precious, learn to take them when you have them and you will make money in  any market.

I know some of you have a longer time frame than me and I understand that, I do leave profits on the table by having a day- trading mentality, that doesn’t mean you have to, but try not to give back 2, 3 or 5 points quick when you get them.

I am trying to telegraph exits on twitter. Understand that non-subscribers have know idea what I am talking about, so when I make a sale on one of “our” names I am talking to you guys. Did any of you trade CME today? I put a note on twitter that it looked like a breakout around $162, it ran about 18 points and I called it pretty well. I ask because I was tied up with other names and didn’t own a share, so I hope some of you guys benefited.

Here are a couple of names to watch, and we are getting a tad oversold so be nimble.

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