Patience and luck have kept me from buying on Friday. These are two essential ingredients for successful trading, although only one can be controlled by the trader himself.
I am willing even to push my luck, given that I am now in a much better position to risk money on the long side, since, if my bullish bias is still right, most of the downside has already come to pass.
The put/call ratio suggests the market is oversold and ready to bounce. The Fed meeting next week will attract buyers this week, or, at least, will deter sellers.
I think anything today around or below 1335 ES (December contract) is a good price for a long position.
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