This trade was not as skillfully managed as might have been. The general explanation is that our panic sell off model is not as well articulated as our other systems because generally we’re not much interested in this kind of trading.
Here is the observation: Never buy the first day of the plunge. Wait. See what the second day brings. Maybe wait another day, and then another (as we did in March). When reversal signs appear, or a power bar up –then buy.
Yesterday we thought was an obvious buy day, and today is also.
And here’s a thumb in the eye, as well as a letter to the SEC, for KBE. Let’s squeeze their shorts.