This is precisely why I hit mute when watching CNBC.
I had my BEST day in the market today. EVER.
Thankfully stripping is a night time job, so the only time I don’t have access to my trade station is when I force myself to go to the gym during Wall Street’s Lunch Hour. By the time I finish with my 90 minute daily workout, I can sip a Muscle Milk Lite shake and watch the close.
My more experienced trader friends and mentors keep commenting that they’ve never seen anything like this. I’m making more $$ in the bear market than I did in the bull market. When prices fall, it’s easy for me to see exactly what my target price is and get out.
I haven’t worked for the past two days, so I’m devoid of any juicy strip club stories.
Instead, today is Avalon’s T-n-A lesson. That stands for Technical Analysis.
Look at this trade on OIH, the oil services sector exchange traded fund:
I entered this trade when OIH was unable to break higher than $177. That resistance ceiling was not only a Fibonacci Retracement (blue line) but also resistance from May 2007 (black line) when I started trading OIH.
Once it broke down, I knew $168.17 was my target price because it was the next Fibonacci Retracement (blue line). After it broke down below $167 I set that as my stop loss. I had captured a $10 move in 3 days….roughly a $500 profit on a $900 investment (times two because I bought two contracts) The fear of losing my profits outweighed my greed, so I cashed out and am waiting for another entry. I don’t feel so bad about $3 gas anymore.
Even though I love it, sitting in front of a computer waiting for buy and sell signals is not for everyone. Regardless, you don’t have to be a member of Mensa to make money in the stock market. You just have to be able to click and drag a mouse to draw Fibonacci Retracements on Prophet charts.
To my Ebanned slaves and worshippers, I have posted two new auctions.
To my Stripperella friends I will be at CCP Tuesday, Thursday, Friday, and Saturday this week.
I’m in the middle of doing my March Madness Brackets. Every institute of higher education I have ever attended is in the NCAA playoffs this year. I’m betting two lapdances (er..one Vegas dance) that the Final Four will be Cal State Fullerton, American University, Temple, and Pitt. Bye Bye twenty bucks!
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