Margo's Swing Journal

Many of the major indices look just like this.....NDX (QQQ), SPX (SPY), BTK (BBH), SOX (SMH). All are at their respective shoulder highs and a likely spot to turn back down. IMO, it's a pretty low risk short with smaller positions & tight stops.

 

margo, your charts look remarkably like www.momentumstockplays.com

any connection, if you don't mind my asking.

just curious

 

I have been watching these H&S formations in action for 3 weeks now. But sellers have not been in command since Oct.

Bullish action since Jan 2 suggests it is unlikely H&S breakdowns will occur.

 

im inclined to agree, even though Margo rocks. How's the Lowry's thing looking?

 

Check out VRTS.

It is right underneath a big S/R line(20). I would usually short this at resistance, but Friday's action is keeping me on the tentative side.

 

You read my mind! I've been wondering the same thing since Margo started posting but didn't want to be a party pooper.

 

I've been wondering for months now but I too didn't want to rain on the party. If he/she doesn't want to reveal that fact that's OK with me. But I couldn't take it any longer. let's just say curiosity finally got the better of the pussycat

 

"If the milk turns out to be sour, I aint the kinda pussy ta drink it."

 

Okay.

nitro

 

uh oh, busted