Double Trouble

I think it was a long step forward in my trading education when I realised at last that when old Mr Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend.

~Jesse Livermore, Reminiscences of a Stock Operator


If it isn't GS creating toxic assets, selling them, and shorting for a profit, it's the Greeks spending like drunken sailors. I think the market is looking for any excuse to make a few $$ on the way down. Big swings like this are doubly painful when using a 2x ETF like the QLD. Regardless, the bull is still in the sidebar for now and we still hold a razor-slim gain for this trade.