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Hi Folks…….I'm in meetings all day long, so today is going to be very quiet from the Tim side of things.
I got blown out of UNG right quick this morning, but I got back in again, this time with a looser stop (21.71). DUG and DIG are doing well, and although energies still could get the carpet yanked out from beneath them, they are currently my best bet when it comes to long positions.
Gotta go………good luck!
This morning started out nicely. Let me explain why with the graph below.
The leftmost graph shows where I shorted 10 /ES. The market muscled its way a little higher, so before I hit the sack, I shorted 4 more.
When I woke up this morning, the /ES was precisely at its retracement level, so I closed it out for a $7,000 profit. Afterward, it started inching higher again. Marvelous! There's nothing that beats making a profit in your sleep.
Well, I'm here at the Marriott Courtyard in Sandy, Utah……..what truly must be the world's most nondescript hotel. It's past one in the morning, and as you can imagine, this isn't going to be a long post.
Indeed, I spent most of the trip out here wondering what's the matter with me. Almost everything I see, I find horrifying. Whether it's the occupations people have, or what's on the television, or what is being advertised in the magazines. My sheltered existence lets me see most things with fresh eyes, and it's rarely an enjoyable experience.
The icing on the cake was when I finally arrived here in Sandy ("Gateway to Draper") and, out of sheer desperation, swung by a Denny's to pick up some kind of coffee beverage. I was confronted with this poster in the cigarette-stinking entrance:
Well, I might as well just slit my wrists and hop into a warm tub right now. Denny's is suggesting that, for that special anniversary, you reward your mother and father with a gift card. ("Hey, Dad, I hear the Grand Slam is terrific!") I don't think they'd ever speak to me again.
Anyway………the market and me. It's pretty simple:
I was a little dismayed to see fellow blogger Atilla cover his short on the ES and go long (even though I did the same thing, briefly). But I must remind myself that my analysis is my own, and I can't let any one opinion be overly influential. Frankly, the only outside influence to which I give an exorbitant amount of weight these days is RetracementLevels.com; it has simply been too accurate and useful to ignore.
That's it for me. I need to be up in a few hours. Godspeed.
I'll be flying to on a business trip and will do a post late tonight (nearly midnight). Just sayin'.
