maybe check the 50 ema on a daily chart. Most frothy assets/securities appear to be respecting the dynamic trend. Buying the dip is still good off market structure, and the US dollar is fundamentally bearish, so commodity prices higher. Would take 8 years to get most prospective copper mines up and running, so supply is going to be tight for a while.
%% Exactly; that + some not so much of roller coaster. Like 'em both Cut a short term trading loss on GSG/ + profits on tqqq. 9:58 CST Ever noticed people that use the word bubble on RE seldom have RE?? AS if \real estate pops like worthless soap bubble ??LOL. NOT saying anyone should buy swamp land unless they like to hunt ducks.....................................................................................
Rollercoaster this week but pretty happy to be down 1% on the week ( last Friday I was at my ath ). Basically done in by a few gold miners again even though gold itself closed at recent highs considerably higher then a month ago. Energy continues to perform well.
I just realized that even though I cut off all financial media, I still kept an Economic Calendar. Somehow, and due to my college background (BS in Economics), I still wanted to believe in these economic numbers. The unemployment number on Friday was dismal, and the market rallied, then the inflation number this week was pretty bad as well, and the market sold off. I thought that these 2 numbers (combined) could signal a market top (the economist in me), but the market recovered. And I was actually long expecting a small bounce, which I sold for a small profit, because I was biased due to the above mentioned numbers. Once I saw that destriero was then long NQ, I knew I sold my ES quite early due to a bias, and NOT my strategy. Needless to say, the Economic Calendar is now gone, permanently. For the first time, since 1998, I am trading solely based on price action (and experience). My college degree is now officially worthless, but I am here to make money, consistently. This is definitely a new market environment. CL went negative in April 2020, the rise in the Dow during August 2020 had not been seen since 1984. The rise last month had not been seen since the 1950s! So even though I am highly experienced, I am witnessing markets not seeing during my trading lifetime. So I have to adapt, and just trade, and make the cash, which I like, a lot...
Well, WSJ/FT, and CNBC/Bloomberg, definitely took a solid year. The scrappy online Economic Calendar, will be gone much sooner. Cash is the best motivator
Wait, are you saying to you had to kick the Cramer habit? Aww come on, he is as scrappy as they come, and he sometimes talks about football in the morning in the same sentence as SPACs! How can you not love that silliness!
You must substitute the old habit, with a new habit, and stick to it, and make it relatively easy to follow... Like HOT, BEAUTIFUL, YOUNG YOGA INSTRUCTORS, 6 TIMES A WEEK...