Today on The Men Who Stare at Charts we note the case of a man who got taken out of his position in ITA by his own chart-staring eyes.
This man had had enough of the negative Boeing hype and seeing it was the #1 holding within ITA bought the ETF. Then as it dwelled one too many days below the moving averages – and said man who stares at charts got just a little defensive about the stock market – the position was released just before… a shot upward. Now a failed trade is finally doing what it was supposed to do in the first place. This is not the first time I’ve been too letter of the law with a chart and regretted it later.
Got to laugh at yourself some days. Ha ha ha…
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