by Greg Guenthner
Daily Reckoning
One of your most hated trades of the summer is up 20%.
It continues to defy critics as it leaps to new 52-week highs. By all accounts, this industry is in free-fall. In just a few short years, new and better technologies will squash whatever is left of it.
Yet it just keeps zooming higher…
Last week, we discussed how successful traders have to go against the grain. We know the so-called experts are going to initially pan our best trading ideas. That’s how we know we’re onto something good.
That’s where today’s trading lesson comes into play: