Screwed Up? Keep Swingin’
My
city league softball team has ruled the land so far this summer. Up
and down our line up we have power at the plate, speed on the bases, and
defensive skills to keep opponents in check. So, there I was last night, midway
through an evening game against the next best team in the league. We were down
by 1, bases loaded with 1 out. My previous at-bat was a shot over the
left-center field fence, so you could see the fear in their eyes as I tapped my
DeMarini F2 double-wall softball bat against the plate. The pitcher winds up
and the ball is floating into my “wheel-house†like a watermelon screaming to be
smashed to oblivion. My arms pull the bat off my shoulder, and my
tree-trunk-like forearms (yeah, I wish) start to pull the bat toward the plate.
My mind is thinking “pitcher…that was a mistake pitch and you’re gonna payâ€.
In fact, I even had enough time in my mind to think about what kind of home run
trot I was going to use as I rounded the bases after hitting this home run.
 At that moment the bat makes contact with the ball as my face grimaces while
all the power I can muster explodes through me. The ball comes off my power
stick, and I immediately know I “missed it.†I “topped itâ€â€¦so the ball starts
rolling through the infield (very slowly, mind you). For some unknown reason as
I take off out of the batter’s box my cleats slip on home plate and I fall face
first in the dirt as the opposing team turns a double play.
Is there a point to this
story? Pride cometh before the fall? Bench Hobbs next time bases are loaded?
Actually, the point is: no matter what we do in life there are going to be times
where we screw up. Big deal! Get back up and keep swingin’. Also…it’s summertime
and we traders need to get outside and take in some fresh air every now and
then.
That said, let’s take a look at
a stock that I will be “swinging†at in the coming sessions. Mercury
Interactive (MERQ) has printed a Bearish Gartley pattern into a large
Fibonacci price resistance zone from 48.25-50.00. The pattern completed as it
crossed above the 200-day sma. For readers of my book you will know that this is
a set up I call the Heisenberg 200. Bottom line: I’m looking for short trades
against this resistance zone for this stock. If triggered, my stop will be just
above the top of this price resistance zone above 50. The simple trigger is to
sell ‘em below the previous day’s low. I’ll keep you posted as it develops and
when I enter/exit.
Keep swingin!