daytrading sept 27 morning

Morning all, thanks HLL and rest of our highly paid financial analysts.

Hands up if you've been holding a down-trending low volume stock over the past month. Give yourself a quick upper cut and go look at yourself in the mirror for five mins.

MBN. Speaking of which, show me the point on the chart where you decided this was a LT hold?

Market is in a purple patch. Enjoy it. I better say something negative eh Timbo?

Dangers at this level are: FOMO, complacency, over confidence, becoming a believer in your stock, lemming like behaviour (yeh, I know the lemming thing is a myth, but as an analogy :>).

All the usual suspects are putting themselves forward again today. They are all charging more. Are they worth it? Do we wait for pull back?

Has everyone seen "Red Obsession"? French wines had two consecutive perfect years in 2010 and 2011. The Chinese sent the wine prices into the stratosphere.

2012 was one of the worst wine years on record in France.

So don't just follow. Check charts, volume and some FA.

Check open orders.

Take profits and losses.

Happy Trades.