Gold (GLD), Google Inc. (GOOG), and Archer-Daniels-Midland Co. (ADM)
Today was another tough day. The market is strong and it is difficult to make money when you are short. The market gapped up at the open, traded down until around 11am, and then turned right around strongly and continued up the whole day. It was hard to judge the tone and I took two short trades and one long. I feel like I traded well – I was patient and I followed my rules. Unfortunately the market was too strong for my short trades and my only long trade turned out to be pretty weak. There were few decent long setups on my watchlist.
Oh well – you win some, you lose some. Here are the three trades I made today:
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Note to self: when the market is strong and you can’t find anything else – just buy AKAM!
