This stock has been the talk of the town this week. So much money lost in such a short amount of time. You can feel the fear in almost every trading group and even in normal news feeds. It was quite an exciting time for some of us in ZFT who bought the reversal. The tension became greater when it got suspended.
"See you at the floor."
I would be lying if I said I wasn't affected. We were talking about what we'd be doing if WEB would do a "TAPET." Open ceiling. Close ceiling. Everyone who had WEB in the tribe was mentally preparing for the worst case scenario.
But the thing is... we aren't fundamentalists. Nor are we speculators. We are technicians. Yes we have emotions but rather than guessing and stressing over the things we cannot control, we instead act upon the things we can control.
Of course this post wouldn't be complete without those lovely port snapshots to prove our point. Here's that lovely link (In case you're wondering, we don't do group trades. It's just that we use the same system and usually end up trading the same set of stocks. )
Because if you're all talk but no show, you're prolly a scam.
Let me end this post with a story...
The Tiny Frog
“We must stand guard at the doorway of our minds”
Once upon a time there was a bunch of tiny frogs who arranged a climbing competition. The goal was to reach the top of a very high tower.
A big crowd had gathered around the tower to see the race and cheer on the contestants. The race began.
Honestly: No one in the crowd really believed that the tiny frogs would reach the top of the tower. You heard statements such as: “Oh, way too difficult!” “They will never make it to the top.” “Not a chance that they will succeed.” “The tower is too high!”
The tiny frogs began collapsing one by one – except for those who kept a fresh tempo and kept climbing higher and higher.
The crowd continued to yell, “It is too difficult! No one will make it!” More tiny frogs got tired and gave up.
But one continued higher and higher and higher. This one wouldn’t give up.
At the end everyone else had given up climbing the tower. Except for the one tiny frog who, after a big effort, was the only one who reached the top.
All of the other tiny frogs naturally wanted to know how this one frog managed to do it. Another contestant asked the tiny frog how he had found the strength to succeed and reach the goal.
It turned out… the winner was deaf. The wisdom of this story is: Never listen to other people’s tendencies to be negative or pessimistic. They take your most wonderful dreams and wishes away from you if you let them– the ones you have in your heart!
Be deaf to the people who tell you that you cannot fulfil your dreams, goals and aspirations.
Author unknown
Happy weekend everyone!
