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Trade With Broader Market Context
- Lance Breitstein emphasizes trading with the broader market context rather than just price.
- He avoids fighting the trend during steady downtrends and waits for volume-driven capitulation before engaging.
Profiting From Dislocated ETF Prices
- During a liquidity panic, ETFs like GDX traded at massive discounts to NAV due to forced liquidations.
- Lance bought these ETFs long naked, anticipating a market bounce once panic subsided.
Seek 'Broken Slot Machine' Trades
- The "Broken Slot Machine" concept highlights the need to find the trades with the highest edge each day.
- Sticking to one type of stock or trade is like playing a normal slot machine; seek out the "broken" ones with skewed odds instead.