I've been writing about how frustrating the stock market has been for would be bears, with every recent dip met with buying. Thursday's early rally then sell off has a similar effect on would be bulls.
Natural Gas UNG, gold GLD, treasuries TLT all have more interesting action than the stock market. What I remind myself is that when I stray into those areas, I tend to have a much lower batting average.
I've been watching the NBA finals (basketball). Orlando coach Stan Van Gundy had some deceptively simple, yet profound bit of advice for one of his players, Rafer Alston: "play your game." Van Gundy was half kidding, half serious, yet it is sound advice for traders and investors. Those that are channel traders tend not to do well trading momentum breakouts. Those that focus on stocks and earnings (like me), tend not to do well trading commodities and bonds.
Sometimes I write that markets are the same all over, more alike than different. There is a lot of truth in that, but there are differences as well. Sometimes missing those detail differences is what causes trading losses.
Long SPY
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