Stocks retreated today. I didn’t have time to check why actually it was happening, but honestly, I do not care.
I look at the market trend and stocks trends from technical analysis perspective and trying to eliminate the noise media are creating every day.
What I see is an insignificant pullback on 1 year chart with a very strong uptrend move and inflow of money. The intraday chart was flat the whole day.
The market broke from a consolidation pattern in May 23 and since then strongly moving up. When looking at my indicators, we will most likely see a little more of an uptrend as the growth is not slowing down.
It may change of course. I am not an expert and do not have a crystal ball, but we may see some growth still.
This movement however made me to open a new trade against TEVA (bull put spread), which was a violation of my rules, money management, and increasing free cash reserves. Heck, I realized that I must keep my trading platform closed during the day as the temptation opening a new trade as soon as I have free cash in my account is very strong.
“Sometimes the toughest thing to do, is to do nothing.” Two of my favorite investing legends have each said that. Jim Rogers and John Bogle. The longer I invest, the truer their statement becomes.
-Bryan
Yeap, I understand it and sometimes very hard to do for me. But I will get there :)
Thanks for stopping by!