This patience thing is boring me.  The first 2 days of this week have been spent waiting.  Specifically, waiting for things to line up the way I like, which hasn’t happened much.  Waiting for the market to show some kind of identity, which  hasn’t happened either.  So let me break down all the waiting I’ve been doing:

  • Monday – I watched the market bounce around for the first part of the session.  By about noon it looked like the market was going to settle into a slightly up day, so I place a few feeler trades with AXP and GM.  Then I waited a little longer and SYF and HD lined up so I bought.  Soon after, the market started to go down before settling up nicely.  The only thing is that I only hit on HD and the rest were small losses so it ended up being an even day.  BORING!!!
  • Tuesday – Started off down the first half of the day, but no short possibilities emerged that I liked.  So I didn’t do anything, which was good because the market turned up at about 1.  Then I waited to see if it was going to stay up.  And it did.  Momentarily.  So I made one lonely trade for TROW.  Then the market went down.  Not by much.  Just enough to be annoying.  So I stayed put, riding it out for even money for a second day in a row.  BORING!!!

Is BORING part of the process?  I ask rhetorically.  Sometimes the easy thing is to push the issue and in my case it has cost me money.  For this week, I haven’t lost any money but it’s been boring.  Maybe it’s part of the growing process to be better able to identify opportunities WHEN the time is right.  I just have to be ready when it’s time.

So I’ll keep it short this time around.  Really, I just wanted to share some of the not as exciting part of this process that is also a huge part of the success.  It’s fun to write about Record Days, but I have to ride out days like today to have more of those days.  So I hope this helps somebody.  As always, feel free to share some of your experiences in the comments section and I’ll check back in later in the week.

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