Sometimes you just step in front of an oncoming train, and yesterday was one of those times.
2 different reports came out this morning, both good, both bullish, and both against my trade. This in turn, sent me into immediate losses and immediate profanity.
Not much else to say, you just gotta take your lumps. Here's the charts:
I took a 25% ROI loss on FXI and a 23% ROI loss on QQQQ. I got out today because of one simple fact - the buyers closed well into the seller's territory. The buyers are back in control. Who knows how long this trickery will continue, but at SOME POINT, there will be a pullback.
In any event, you gotta make the best decision you can at any particular moment in time because (unfortunately) you cannot see the future. Over the next week we may drop 100 points and I would have made fortunes on these trades. Or, we could go right on going up and I would have lost it all. In any event, I took my risk, got my bottom spanked and I'm willing to swallow that and move on.
We'll see what tomorrow holds...
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