Apparently Pinchy Winchy was a game the Marx Brothers used to play with each other back in the day. It involved pinching the cheek of the guy next to you and I guess the loser was whoever didn’t find a cheek to pinch back. Now, don’t judge them too harshly – those boys didn’t have cable TV, the Internet, or computer games, and the bikinis of the time made a burka look outright frivolous in comparison.
Due to recent developments here is what I should add to our current NQ campaign: ABSOLUTELY NOTHING. Yes I know, your fingers are itching and it is oh so tempting to mock with a running winner. Why not move that stop up just a little or take a bit more off the table? But I strongly encourage you to simply let her run until she either arrives at her target or touches her trailing stop. Per. The. Rules. One of the toughest lessons to learn for some traders is to simply sit on your hands and let your winners run.
It’s that dreaded day after Independence Day. The weather is gorgeous and I don’t really feel like trading either. The thought of just phoning it in had occurred to me, but as the new month just rolled over I thought I may as well take another peek at our monthly charts. Which uncovered quite some interesting perspectives that I’m eager to share. But no worries – we’re keeping it light and easy today. Consider this a purist’s approach to market analysis as we’re going to ignore everything but Net-Lines.
It’s getting pretty toasty over here in Valencia and the air conditioning are doing their best to keep temperatures within a tolerable range down here in the lair. The transition to summer here in Spain is pretty drastic and very different from what I am used to from my two decades living in Los Angeles. Two weeks ago it was still chilly and rainy but then someone somewhere in Madrid throws a switch and the entire country turns into a smoldering but humid oven.