I've seen too many great traders get caught in a position and/or in a public posture, and get ripped apart when the market disagreed with their position or posture. You've seen it too. And that happened to me in a big way in August 1982, but that story is for another day. Suffice it to say, that won't happen again. And I will still be in the arena when the BIG payoff comes.
Also it did not have anything to do with the Seven Sentinels themselves - by my interpretation, they went to a sell on 5-12-09, and right now I'm in the process of evaluating that signal and I'll comment in more detail later- maybe tonight, maybe tomorrow. We'll see. Clearly this trend is persistent. Maybe we have another push then another sell signal. I'll think this all through and comment later, as said.
Just wanted to clear the air, as this move probably surprised many....as it surprised me. I thought I would be adding today, not getting out. Just emphasizes my earlier point that our opinions are really not important in this game....market action is all that matters. Good trading all. And thanks for the comments below. D
Edited by IYB, 18 May 2009 - 03:01 PM.