Trade Like a Ninja

Don't let recent movement in the market detour you in your quest. A Trading Ninja is always confident in his plan. Pounce on the enemy, and eliminate doubt. Who is the enemy? You can find the answer to that question by looking in the mirror, or on Mad Money. Don't give in to the temptation to think that something needs to change in the market before we can begin making money.

THE MARKET NEVER CHANGES. The only thing that changes is how we perceive the market, hence our beliefs about the expected outcome of our actions will change. Stick to what makes you money. As traders we can not afford to fall prey to self doubt. YOU are the best judge of the market concerning your trades, and your money.

Stop and Smell the Roses

While the market makes up its mind; check out this tasty lick. I am looking at FLWS for an ascending triangle breakout above 2 year highs. The breakout needs to happen on volume but you can make the call on your own.

Got Shorts?

Well we have had quite the week. I have talked to lots of traders about what is going on and most of us agree that the market has most definately moved. What I can't believe is that nobody told me it was going to be to the downside.

If you are going into Monday short, be careful and willing to admit you were wrong. Its one thing to say the market is bearish now because of deep pull back. It is quite another thing to make money on that belief short term.

I am still in some bullish positions after all this but I am not treating them any differently than I would if the market was still in the calm seas of the last 6 months or so. Right now I am doing 3 important things...

1. Stick to my plan
2. Search for the new bull sectors to emerge
3. Be patient and enjoy life

That is all for now...