try to guess what the big accts are doing,goldman morgan,assume they always know more than we do, lobbyists, gifts ,always a mouse in the information room ,wherever that may be, ecb,fed,DC,arms dealers,etc.... if you are going to let your mind wander, try to find their footprints
It might be extended. It might not. But let the market tell you instead of a gut feeling. Evidence-based trading, not gut-feeling based trading is the key. AAPL >100 just adds some more fuel to the fire.
Same old dance. Up now again for a few months; get us up to 2050 or so? Then some really bad news comes out that drops us back to around 1995. Then (without the need for any equally good news) we just grind back up to make new highs? In our life times, a ''long only'' approach is 'the edge' we seek
A distinct possibility. Nothing wrong with that. As Handle123 says, "I'm just a monkey pressing buttons!" Do what the market tells you to do, not what you think or want to have happen.
Since 7/21 the NQ has made new highs, ES is close to making new highs, but the TF (Russell) is nowhere near making new highs. Shorting ES and especially NQ is a waste of time, when the TF is so much weaker. Whenever the market breaks, the TF is going to break much harder than ES and NQ as well.
It's completely relevant. Short term, within 3 to 5 days, returns diminish greatly after several days of rallying. It means nothing for the long term however.
That's why ammo is still here and why I can remember him posting years ago. Unlike many in here who are flashes in the pan. Most good traders buy dips and sell rallies. Also funny how hot and bothered all the bulls are right now. I got a feeling the market will dish some pain in the next couple days. Reminds me of the bears goading pinkman et al on this last downturn.
Hmmm, pull up a daily S&P chart for the past year or two. Several 6, 8, even 10 day rallies. Sure a few days that were flat or slightly down, but some runs were overall still very strong after 6+ days (example: Feb 5-27th this year and May 21-June 10 this year). Good traders aren't bulls or bears. They trade what the market dishes to them. Low volume, low vol = go long. Pop in volume and vol = go short for a few days and make sure to cash out when volume/vol diminish.