No New Short Positions For Tuesday’s Stock Market Session

February 11, 2008

There was no one single stock that setup in a good to great short pattern. Therefore, the best thing to do is not force any trade that is not setup naturally and to bide our time until the stocks we are watching to short touch the 50 DMA. Many of the past bull market leaders that we are now short are rallying on lower volume getting closer and closer to the 50 DMA. Even though the chemicals are not working yet, if you know how to read charts, you can see that the charts are still as topped out as can be as they rally on low volume and selloff on higher volume. But since they did not crack immediately, I am cutting 1/2 of my position in all of my chemical shorts. I will look to reenter with a better setup.

What is funny is that after all of my years of providing such HUGE WINNERS!!!!, some of you still cry about a stock moving against you 8%. Do you guys realize where you are at? It is called the stock market. You don’t get to win every game!!! Wake up!!!! Did the Patriots win the Super Bowl? But…ugh….they were undefeated. So what!!! Grow up, cut your losses, and learn to buy stocks like MTL! The next person that cries and ask where to cut the loss AFTER I TELL YOU WHERE TO CUT THE LOSS will have their posting privileges revoked.

I don’t know how many times I have to tell newbies to cut your losses if YOUR STOCK DOES NOT MOVE HIGHER IMMEDIATEL or tell you newbies that we have a FAQ and strategy page. Also if you don’t review my past longs/shorts or past big winners, it is YOUR own fault. NOT MINE! Take personal responsibility. I know it is hard….America is forgetting how to do this. RIP Ronald Reagan. God I miss you.

new short positions: none

Last 5 posts in Free Archives Shorts

Three New Short Positions And Two Stocks I Am Adding To My Existing Short Positions For Monday's Stock Market Session - February 29th, 2008
One New Short Position And Two Stocks I Am Adding To My Existing Short Positions For Friday's Stock Market Session - February 28th, 2008
Three New Short Positions For Thursday's Stock Market Session - February 27th, 2008
One Stock I Am Adding To My Existing Short Position For Wednesday's Stock Market Session - February 26th, 2008
One New Short Position For Tuesday's Stock Market Session - February 25th, 2008

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Comments

RSS feed

4 Comments »

Comment by sc99 Subscribed to comments via email

2008-02-11 21:08:39

Hey Josh. Sorry that you had to get irritated, but thanks for caring enough to help us newbies understand that stocks can and do move down and to cut losses quickly. This made me grab one of my WON books where WON quotes Bernard Baruch, “….Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong.” Thanks for keeping us on track Josh.

Reply to this comment

Comment by MauiTrader

2008-02-11 22:03:09

Not you sc99.

i am so sorry if i came off that way.

i was referring to Owen saying when to stop the “pain.”

who is having “pain?” How is an 8% loss pain? I take those ALL THE TIME. But I take them A LOT less than my stocks that move higher.

I am sorry sc99. NOT YOU.

Reply to this comment

Comment by MauiTrader

2008-02-11 22:04:51

I feel bad.

remember guys, i dont like being mean. i am not trying to come off that way. it is just i explained where to cut your loss and to ask where to cut the loss or where to stop “the pain” is just a lack of effort on the readers part.

it was not you sc99. YOU RULE!!!! buddy.

luv ya man!!!

but for those that EVER imply something fishy is going on here….WAKE UP tools…I have been doing this for twelve years and NOTHING has changed. The only thing that has changed….the amount of figures behind my $ sign in my four personal accounts. They are much larger than what they were in 1996.

Reply to this comment

Comment by MauiTrader

2008-02-11 22:05:59

sc99….you picked up the book and found that quote….you are going to be a stud at this!!!

NOW THAT IS THE RIGHT ATTITUDE!

THAT IS A WINNERS RESPONSE!!

YOU HONESTLY RULE!!! GREAT JOB!!!!

Reply to this comment