Thursday, September 1, 2022

backing the wrong horse

I picked LI as my favorite trade today. It had been strangely strong this summer, but this setup looked "perfect." A downtrend with a small base and a clear support level going back to an open gap in May. Below all the ma's. 

It traded like a total jerk. Didn't drop out when the rest of the market tanked. Threw some crazy spikes up, prohibiting a stop/market. And as we speak it will not break with the market. I got out a 17% sliver, and I'm still holding the bulk. 



Little later, everything is falling out of bed, and LI doesn't care. Junkus


Result. TERRIBLE hourly rate on this trade, but at least it was green.

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