A few of you have asked why we reversed our position this morning from last night. The answer includes the discussion about "The Bots" which we explained at 10am today. As we were doing our market scans and picking targets last night and early this morning, we noticed how many "inwestors" and "traythers" (spelled that way on purpose) were now using technical analysis the last few days. In poker we learned that when all at the table begin using the same strategy (including the donkeys), it is time to CHANGE GEARS. Changing gears in poker is a crucial strategy to use if you want to succeed. The Stock Market is the biggest poker game in the world. We decided to stop and think. Are all the price targets going to be hit with all these "Traythers" now jumping on "The Strategy"? Everyone is distracted and are they missing anything?
We think the answer is YES (at least for now). The Chip Leaders will start to look for value and pick up the dollars while the rest are still changing pennies. The "inwestors" are terrified and will not be bargain hunting ; the "Traythers" are still too busy programming their buy/sell points to notice anything.
It is amazing what a good night sleep does for ya!
