What Would Dave Do?
You know sometimes I wonder when I ain’t gettin’ nowhere
What would old Willie do when it all gets too much to bear
And I can see him on his lonely old tour bus
And he’s got his problems just like any of us
Well he’d just take a deep breath and then he’d let it all go
And he’d take another deep breath and let it all go
And he’d take another deep breath…and he’d hold it…
Ah and I bet he’d feel hungry in a way that seems strange
Yeah hungry for all the things that he just can’t change
Like the time he passed out in is own bedroom
And his wife sewed him up in the sheets and beat him with a broom and he forgave her
(from Gary Allan’s song “What Would Willie Do”)
So I’m looking at the Qs, and in the newer, mellower, more laid-back style I’ve adopted for my swing trades, I ask myself, What Would Dave Do?. Dave Landry, that is. Swimmin’ Pools. Movie Stars. (You’re forgiven if you’re too young to get that).
I think Dave would take that chart and draw a couple of big arrows on it. His are blue, mine are green. I think he’d say a breakdown out of this sideways range would be tradeable on the first pullback. I don’t think he’d say jump in at the first break of 43.20 and set a stop a few pennies above that.
So rather than mull over “at which penny to set my stop limit short order” and exactly where my initial stop and tah-dah! “R” will be, I think I’ll just wait for that break, if and when it happens.
In the meantime, I’ve got about two more sips of wine in this glass, then a little reading and it’s off to bed, gotta get up for work at 0530 in the morning.
Hey, I could get used to this.
Fan said,
December 22, 2006 @ 12:37 pm
mr paper trader here- GS and FXI look like great short sales to me.
Perhaps even to hold for awhile into the new year.
really enjoy this blog.
sorry the Web movie was poor.
we have the tape of EB White reading it aloud and my daughters really enjoyed it on long car rides when they were small.
Will said,
December 23, 2006 @ 4:15 pm
Fan- thanks. Yep, still watching that short setup in GS. It seems to be playing pretty nice. Haven’t looked at FXI lately, but will certainly check it out on your recommendation.
I think Charlotte’s Web is one of those stories where the acting would make the movie, versus the action. The sorry director seems to have confused those, and tried the old token- famous- people plus some shoddy CGI. The usual recipe, but even then they ruined the cake.