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Can You Handle The Truth?

ByWarren Bevan
Published 08/26/2015, 04:33 AM
Updated 07/09/2023, 06:31 AM

“And in the end it’s not the years in your life that count. It’s the life in your years.” Abraham Lincoln

And, the truth is, this is not a market, but a casino.

Betting on a gap up or down overnight is not my game so I refuse to participate.

Sure, you can get lucky and win, but you may not.

The only moves we’re really seeing for the last week are large and happen overnight and I won’t play.

Myself and most subscribers are all cash and have missed the good and bad of this very volatile period.

That said, I did get lucky enough to grab a solid SPDR S&P 500 (NYSE:SPY) short in the last hour and that was good for about 3 points points in about 45 minutes but you’ve got to be there and watching closely to get those quick day-trades and it’s debatably worth it.

SPY Daily Chart

SPY opened with a massive gap higher and was steady most of the day until the last hour when I got short and then it totally tanked.

All I can say is, I’m not holding overnight and I’m not trading unless I see something solid like the last hour swoon today.

Be careful out there and don’t feel like you’re missing something.

It’s much better to miss an opportunity than be missing your capital in this type of market.

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