Now, if someone like Axman can get a 120% gain in a market that is down over 50% from the highs of last year, wouldn’t you want to make the commitment to be the same trader/investor that he is? I know I want to and I know that I will. When I have the years of experience that this great trader has, I know I will get the returns he does.
My problem right now is that I did not expect this market to turn down so fast so I thought I had time to wait for better setups and I did not think it would be this bad this fast. Thus I missed out on really exploiting my gains to the fullest (which would be a 150% gain with the individual returns in my shorts) and now am waiting for a new bull market to start for me to get maxed out to the long side with the new CANSLIM leading stocks.
I will probably be waiting a while as the markets have E ratings on the NYSE, DJIA, and SP 500, a D- rating on the Nasdaq, and C+ ratings on the IBD 100 and IBD 85-85. Until these accumulation/distribution ratings in IBD hit A or B, it is definitely smarter to stay on the short side or if you are new or have taken a lot of your short profits to be heavily in cash. Nothing is wrong with being long cash right now. Since the US Dollar took out the 50 and 200 DMA the future alone is up 18%. I do not play the Dollar index futures but I assume in the futures market you could have made a lot of money by playing the Dollar like that.
This market is getting harder to handle day by day but I know the more we selloff and the higher the volume gets, the closer we get to a bottom. With that kind of positive outlook and a history of getting some amazing returns in fresh bull markets, there is no way I can give up on the market right here. I might be a little down, but I am never out.
Today was an incredibly tough day for me as I had a lot of little “life problems” happen left and right today. At least my shorts are taking a little care of me, even if the market isn’t taking care of anyone. This is why the biggest gamble ever is buy and hold: F and GM. What a joke that whole story is.
This is a site designed to make you a TON of money in bull and bear markets. This is not a site to disect news and the automobile industry. All I can tell you is that I believe in extremely low taxes, free competition. little government regulation, and more incentives to have more IPOs come public. If that makes me a staunch Capitalist, then whatever and so be it. I know what it will take to turn this market around and I guarantee it isn’t bailouts. On that note, have a great day/afternoon/evening/night and I will see you after the next closing bell.
Aloha from the beautiful island of Maui where traffic gets more and more congested every day.
Part one and part two, full size version, of the Daily Market Wrap Videos are available to Gold and Platinum subscribers on the Gold Forums. Free version will be posted in a few hours.
