Wow . . . Again
That was buttock ugly. I managed to squeeze out nearly 3R on two trades. I could have made a lot more but once again I had an appointment that kept me from managing my trades. Some day I'll be able to do this without interruption.
Charles Kirk has a very well written and thought out piece about our current situation and government interference.
I was way wrong when I decided to go long in my retirement portfolio. I haven't been able to pull the trigger and dump the losers.
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There may be a global coordinated interest rate cut. If the market does not respond positively, mainly by interbank lending rates falling, then look out!
A friend that manages money for a hedge fund said the prime brokers are no longer giving full value on margin which is force people to sell. At the same time, stuff with high short interest will likely pop tomorrow due to the new rules... Watch TRLG, which is a Zweig pick but has a high short interest.
3R is a good day in this market! Congrats.
I started the day 75% long and lost 10% of my account. Tomorrow at open, I'll buy some positions and be 100% long. Holding my current positions and buying new ones isn't easy at this point, but I'm a systems trader and I follow my systems.
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