It’s not a death race, so catch your breath

Good morning and welcome back to the race track, where most of the traders forget to take a pit stop. Greece is broke, Greece is saved, Greece is broke, Greece is saved, Greece is…and other than freaking out investor sentiment near-term, is anybody sure that the EU is good, has been good or ever will be good for the US economy and its stock markets? Remember how many times I’ve pointed out how the DJIA is actually DOWN since the EU launched back 12 years ago.

And yes, we need to catch our breaths and take our pit stops when we’ve raced as hard and as fast as we have of late.  One of the reasons you pay for this subscription is because I’m one of the few guys out there willing to tell you that sometimes it’s better NOT to trade than to just simply chase any trade you see.  There are thousands of trading opportunities every day the markets are open. You certainly should not be trying to catch every one. Rather, youur job is to focus exclusively on the very few trades that we know represent the best risk/reward opportunities for your capital.

And I’ve got a strong hunch that we’re about to get a whole lot of new trading opportunities to both the long and short sides as the markets decide whether to digest and establish new higher highs near these levels or whether we see a vacuum pocket underneath us when the next catalyst hits.

It’s okay to let off the gas a little bit right now.

Death Race 2000 (1975) Best Scenes