Sorry for the disappearing act last week, I had to go out of the country unexpectedly. But, I am now back and posting will continue as scheduled. As usual, we'll start off with this week's quote of the week:
"Buy and hold is dead."
This market is maniacal to say the least. If you want to profit, you've got to be nimble and seize your opportunities. I'm not saying you need to be a daytrader. But, you do need to detach yourself from your positions and completely take emotion out of the picture. Take profits when you have them, buy dips with solid calculated risk/reward, and always have a stop in this market. Make sure you're taking advantage of shorting as well, whether it be through leveraged ETFs or just straight up short selling. Either way, buy and hold will get you killed in this market. At the very least, decrease your position size and increase your cash position. Getting 'smaller' can only help you here. There is plenty of money to be made in this market, you just have to be quick. Very quick.
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