Last week I was in St. Martin working on my tan. I definitely have the best tan on the desk and by far. Of course the week I am away the market rebounds 1000 points. It was like they knew I was taking a vacation. So today was my first day back and I treaded lightly.
So I missed all of last week. I traded an easy stock. I traded with manageable size. I traded easy setups. This is how you get back into the game.
It will take me a day and a half to get my feel back. Until I do I must make adjustments. And today I did. I traded JPM. GMan mentioned during our AM Meeting that XLF 8.40 was an important level. I noticed on the Open that JPM would not trade below 24.25 unless XLF was below 8.40. I noticed that JPM could not trade above 24.50 unless XLF was above 8.48.
And then I just waited. I caught a quick short when XLF traded below 8.40. I caught a nice upmove when XLF traded above 8.48. I stuck with very simple trading plays. And this is how you do it when you are returning from some time away.
It was good to get away for a week. Seems like our desk had a nice week while I was away. I wonder if they wished I would have stayed away longer.
Best of luck with your trading.
4 Comments on “Dipping My Toes Back Into the Water”
welcome back, look foward to reading some of your observations on the mkt. good luck with uconn for the tourney, my moneys’ on UNC!!
welcome back, look foward to reading some of your observations on the mkt. good luck with uconn for the tourney, my moneys’ on UNC!!
Thxs. Good to be back. Trading ENER this morning. Lil Mike is setting up the SMB tourney pool for us as I write. I will be rooting for UConn but I can’t say I am optimistic they will win this year. Losing Dyson really hurt us.
Thxs. Good to be back. Trading ENER this morning. Lil Mike is setting up the SMB tourney pool for us as I write. I will be rooting for UConn but I can’t say I am optimistic they will win this year. Losing Dyson really hurt us.