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The un-Trade Alert

March 9, 2016 by Cody Willard

Don’t forget this week’s Live Q&A Chat at 2pm ET today at http://twc.scutify.com/members, on the TWC App, or just hit reply to this email and send in your question. Ask me anything at all about the markets, the economy, trading strategies, tech revolutions, politics, news, apps, cooking, sports, TV, books, real estate, oil — I’m serious, ask me anything.

Stocks are trying to rally again today. What a tear they have been on since those panicky February lows. I’ll remind folks once again, that if you were scared/in pain/panicking back at the lows in February when the $DJIA was at 15,550 or so…well now, while we’re up huge from those lows, is a great time to sell/trim and catch your breath. You don’t have to be all in or all out and you don’t have to nail the top. Just make sure you’re in a position that won’t be painful if the markets do reverse and turn lower and get panicky in their sell-off action once again.

I’m ready and willing to make some trades to both the long or the short side, but am, as always, being patient and very selective in the pitches I’m going to swing at. As a trader, as the writer of a subscription trading service, and simply as a human being, there’s always a temptation to force trades — to trade simply because you think that’s what you should be doing. Let’s quote the greatest trader in history, Jesse Livermore once again:

“There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time.”

And:

“It never was my thinking that made big money for me. It was always my sitting. Got that? My sitting tight!”

Cody back in real-time here. Don’t give into temptation or human nature. There is a lot of value in not trading sometimes.

 

Related posts:

Trade Alert - A basket buy plus a bunch of must-reads and commentary
Trade Alert - More than a feeling
Trade Alert: A Must-Own Virtual Reality And Gaming Platform
Trade Alert: Tranche buy, FIT secondary, AMAT earnings and more
Trade Alert: Nibbling NFLX and AMZN call options, covering 1/3 GWPH
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Filed Under: Trade Alert

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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