Thursday, January 22, 2015

Opened: PLNR, CUBA

I bought PLNR as it reversed from the lows and went green. This has a reversal type of look to it and could pop back up 10-15% and if the market heads higher another run at 9 is not out of the question.  

Entry: 7.03
Stop: 6.70
If it gets below 6.50, however, it could be a short. 

I make a thousand arguments why this ETF should not  being going  up. When I was an unsuccessful trader,  I used to make such arguments.  I became a profitable trader when I realized that rationalization  is a futile  exercise.

The price action says there is money to be made on the long side. And the history of CUBA shows what happens to traders trying to argue when the stampede begins.
Stop: 9.20

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