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At 2pm were having some buying step in. But with the volatility and yesterdays big drop I still feel it was the right thing to take our chips out of play this morning. As I said before and I will say again many times.. Winning the stock market game requires discipline. And that discipline forces us to protect our capital. And that is what I did this morning.
Plenty of new setups to play.. when the time is right we will take a position. But right now it is very important not to get overly excited with an afternoon buying surge.. just as quick as it comes it can disappear. So far today every time there was an advance someone was there to take it back down. Need to see it establish a clear pattern of what direction it is going to take. Right now it is circling trying to decide what path to take.
Fp80
2 Comments:
You did the right thing this morning, Chuck. You are very wise: Discipline in your trading is the key to long term success. The action started giving me the willies a couple days ago. Keep up the great work. Lovin' it.
Thank you Lisa..
For those that did not sell this morning and held longer than I did then they were lucky and got a few additional percent out of the plays. But I am still concerned here and I must see a clear sign that this sideways movement in the markets will stop and resume a true bull movement.
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