anyway, i will no longer be long in about 15-20 minutes. Last half hour could be some retracements. So if they are moving the titantic up they better do it now.
The price pattern at the end of yesterday was long 100%. I only know enough to know the entry point, but I personally would not have had any clue that the rip would have been this huge. Based on the look of the chart, I would have thought that the 1207 area would have provided some resistance, but anything above that was a potential "sky is the limit" scenario.
Trailing effectively is an art I have yet to master. I trailed a little bit and was willing to trail higher, as my target was 37.25, and had it burst up higher quickly I would have removed the target and trailed a bit. Was going to ask you, say you entered at 1202 as you did, is there a point where you move your stop up to where you say to yourself, "okay, I am happy with this profit regardless of what happens"? In other words, maybe you lock in 20 points and psychologically that's a home run; so that if it goes in your favor 30 or so, and then comes back, it's no big deal... Sitting through the retraces are what I find toughest to do. A better choice for me emotionally is to exit and look to re-enter, though I am not that great at re-entering so it's probably not mathematically the best choice.
Is this fundamentally bullish news? I am fundamentally challenged / retarded. Could you interpret please?
Just a gigantic liquidity facility, and we all know what liquidity will do rather than having new capital introduced...
T-day lift and Santa Claus rally after a 2 week decline? Santa Claus came to town the week before Christmas in both of the previous 2 years (last time he didn't was in '08, a crazy year for the market anyway). Plus lately it seems that those strong EOD moves are good fades, as they tend to reverse overnight most of the time. Trouble for me is I hate watching charts all night.