fomo

Coming in today, after multi day wild selloff, market gapping up just to resistance. My goal for today, get pltgt and get out. None of this too-cute pressing for more and then getting slapped. 

Looks like I picked the wrong day to stop sniffing glue (-Airplane!). I didn't give any smidge of room. Took my profits and ran for a beautiful green Friday. But of course the market today sold off hard and I missed so much. Oy.

This is my ongoing question. Knowing when to press. Ultimately the answer is take and trail. That's clockwork baby! Stick with clockwork. 

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.

out of sync

I feel very out of sync with the market lately. I'm a little shocked how hard we're selling off and I have not changed mental gears well. In addition, even if I say to myself "be skeptical of rallies," I still find myself trying to pick bottoms, anticipate bull breaks, hold for hope, etc. 

No trades today. But not in a good way. Mostly in a frustrating way like I didn't see it coming, I missed it, etc. 

Holding a lotto IWM call (nms? bottom picking from yesterday). Right now it looks like it will go to zero. Why do I even bother with lottos. Setting a target and leaving my desk.

market sneezes

 Big continuation down today. I call it market sneezes.

Before it really dumped, I took a long on COIN. nms. What the actual F!? Why do I keep doing this? Loser, of course. For no good reason.

$SPX

day after massive move

Friday the markets were destruction. Down 3.5-4%, bearish engulfing and doubled the range it engulfed. This morning, market gap down but I did expect initial buying. There is room below, but the market is so extended now, esp on the 60. So the plan was (take a guess...) wait! I wanted to wait at least to see the opening 5 min range.

Started w COIN puts, from the volume gapper list. Got too itchy. The price was still inside yesterday (that alone should have negated it). Also, the price was still above vwap (and also this alone should have negated it). This was a loss I deserved, but at least I had a decent stop and respected it. Still counts as NMS and not a "perfect trade".

NVDA got completely wrecked Friday. Lots of tickers making this similar pattern/setup to COIN, NVDA, so I was trying to pick the best (worst, for shorts) one. I did wait for NVDA to get back below yesterday's bar. I did wait for the price to crack back below vwap. But I did not give the stop back to day high and I got shaken out. It maybe would not have gone to targets before a tough reversal, but I could have gotten out green. 

Red day.