Congrats on the positive week. I see you're holding TWM over weekend... what are your thoughts going into this next week?should be an interesting one for sure!
Still far from being in control in the mornings... sell too early then get involved in the ugly chop... These ETF's are a relative easy morning trade (specifically on qap downs) for those with the sense to get in once direction set and hold for 90 mins or so. Not me. Market-wise looks like the Bears got neutered week before last with that pump from 818 and have agreed to take a break..... But the Bulls seem to have nothing in the tank to take the markets anywhere... resorting to these annoying late day manipulations... They better find something before next month.
UWM 60 min. Setting up nicely for a run up... UAUA going long over 10.3 Proble with all this is VIX looks to be bottoming.
If you trade SKF better watch that trendline on the Hourly... "usually" resolves downward.. and SKF IS the market... This ties in withe the bullish TWM chart..
I have decided to get all my ugly trades in this year it seems.. doing the opposite of every nice analysis I do.. I think I'll re-title the thread if possible to "The most taxing and silly way to arrive at a 25% year gain in the markets". SP500 wedge building again... 6 to 8 weeks has been the typical duration... Someone please let me know when it happens as I will miss it.... Will work on an attitude adjustment (brain transplant?) over Christmas break.
Never try to pick bottoms.. not even on an equity chart! Started the year around 25k, 400% in less than 6 months, then this... The big question for me will be which part of the chart is truly me. I will find out next year. Can't wait for the new brain Santa hopefully brings me.
Someone just asked Neke in his thread what he attributed to his success, I'd be interested to know what your thoughts are for the change since July? Like I said once before, your analysis always seemed sound to me when I started following along -probably around August, so I'm wondering how you view it all. At least you MADE money, more than most can say.
Builder, Interesting his chart is a near mirror image of mine except he didn't do as badly early in the year as I have later in the year, which makes him a net better trader as he limited his losses well when he was not trading as well. One thing I noticed with Neke last year is he always was mentally favoring a bear market as is therefore VERY comfortable when markets decline. I remember quite a few of his losses last year were from being short. I think I am more neutral and "should" potentially do better long term but there is that psychological execution thing. I think since July I simply never changed course mentally from long to short. The nasty nature of bear market rallies played a big role here. I STRONGLY believe it is all in the head as markets are still painfully simple.... just numbers changing from this to that. As long as I can still imagine getting back to those levels it is easily possible.