Disliked{quote} OUTSTANDING G.!! Do I understand that you are basically trading inside the current week and not holding positions for the long term? What if you have a great position well placed on a Weekly wick, will you try to hold at least that one going into Retracement or Reversal? AGIgnored
I have a longer term position trade in S&P 500 that I added to today. I originally bought into it on the infamous "Haines Bottom", when the late CNBC anchor Mark Haines said he thought the market had hit a bottom in March 2009. I was watching him announce the market carnage live and I thought at the time, that was the gutsiest Stock Market call I'd ever heard, calling the market bottom to the minute in front of millions of viewers, so I went in with him. It turned out to be a parting gift to his loyal viewers. I've never cashed a position out of it. I'm not really sure what to do with it other add to it when 10% or larger retracements occur. I really liked Mark, may he rest in peace.