Discussion in 'Journals' started by johnnyrock, Jul 20, 2017.
$105 loss. New balance $4685
$115 loss. New balance $4570
5934 might work for ya here.
Nope. This is a freight train!
No... its a market wide short squeeze. Keep till Friday PM. Its not going much higher.
A tech short squeeze to be more specific.
Fang is gonna get trashed.
Prediction vs. WHAT HAPPENED
I was shorting into strength after the NQ had taken out every high in sight
The hourly tells the story.
This market is all a facade Johnny. One of these days we're gonna look back and say "wtf were people thinking".
Houston is going to cause epic pain. More than we realize now. Epic. Forget about infrastructure spending in Peoria for the foreseeable future. We'll be hard pressed to rebuild Houston. Tax reforms a joke. More Trump hot air. Healthcare's a disaster thats not getting any press. Gotta keep us sheeps' minds focused where they want em to be.
And despite it not being front and center of the media "today"...the North Korea situation is 10 times more volatile than we're being led to believe. Although we won't go to war there, a mishap (accident) will send these markets reeling out of fear of a Cuba 1961 scenario. One boo and we get a 5% correction. And that "boo" can come at any time. So it didn't happen today... NFLX up $6. Yeah. Alls well.
Its a facade Johnny. One big facade. When it ends is a good question. But there won't be any warning.
This situation in Houston reminds me of a story Jesse Livermore told regarding an earthquake.
I agree with all of the above! It seems odd that Trump is at war with his own party and the opposition. Internationally nobody respects him, and when you add it all up, I think Trump is primed for a Wag the Dog scenario.
FWIW, there was also a 25pt gap magnet from 8/17.
Yesterdays action was a big tell... yesterdays open filled the 8/22 gap, in runaway fashion. The 8/17 gap was clearly in sight with a naked POC. jmh analysis.
Leftover gaps can be used as targets, especially when lined up with other horizontal levels. H's, L's, POC's, S, R, whatever.