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Trading With Cody

Long-term Revolution Investments and Real-time Trades from Cody Willard


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Congrats…Now what? Stay cool.

August 24, 2015 by Cody Willard

Well, that’s why we do what we do. We sell euphoria. We buy fear. In my twenty years on Wall Street, I’ve only seen maybe two handfuls of days like this where you can make 15-30% in high quality, blue chip stocks — in a single day’s session.

The stocks I went out and bought this morning at the panicky open, are indeed up big already — $AAPL, $GOOG, $FSLR, $AMBA, $EZCH are all screaming higher off their lows. Remember that we trimmed all those names much higher and now we have our full-sized positions back on the sheets at lower prices once again.

Most pundits and traders missed today’s intraday 800 point rally in the DJIA and many actually sold at the bottoms into the panic. It never pays to panic. It pays to have a steady playbook that guides your decisions, not letting emotion dictate your moves.

Don’t look back and say to yourself “I should have bought more.” Of course it’s easy to say that now that the stocks you nibbled on are up 20% or more on the day. But you have to use tranches and be reasonable in the risks you take as you buy and as you sell.

This is why you subscribe to Trading With Cody — to help you form a playbook and then to act on it without emotions. Be cool.

Now all that said, it’s still barely halfway through today’s trading day, so don’t count your chickens before they hatch. I do think we probably put in a near-term bottom this morning when the DJIA was -1000, but there’s no guarantee. I’ll be looking to buy more if we get another whoosh down this week, as I do believe the Bubble Blowing Bull Market we’re living through is still heading higher over the next year or so.

 

 

 

Related posts:

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Why Stocks Rallied Today + Trade Alert: Bye WORK, Hi More Index Puts + Transcript
Totally flat day for the broader markets...
Join the chat this morning (like, right now)
Two option trades for Txgiving week
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Filed Under: Trading

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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