“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.” – Warren Buffett
Tough day for shipper once DryShips Inc (NASDAQ:DRYS) resumed trading.
The whole sector was down as was I, but losses weren’t too bad in the scheme of things.
I did not handle this trade well, I should have reduced Wednesday into the strength.
The trading game, it always slaps you just when you think you’ve got it licked.
Live and learn.
Better setups aren’t forming yet and the S&P can’t get going on heavy volume so we may need a little more consolidation before the next leg higher.
SPDR S&P 500 (NYSE:SPY) isn’t seeing the volume it should on this breakout so I’m skeptical, especially with not a ton of great setups, nor are we seeing leading stocks act great at all.
That said, if stocks do takeoff I’ll have to be in more of them, using tight stops.