QQQ 5-min. frame update .................... As Q drives me north into red, red, red, her are the battalions that will try to stop Q. 319.88 320 The 200-day ema is far at 327
QQQ ............ update ........ Red, Red as mentioned. I am still IN, no surreptitious changes have been made and no excuses are offered. Such a swell Trading Internship!!! It hurts but I ain't no coward; I knew there would be days/times like this. I'm in it now and will see it thru'.
Trading update ................ experience is my current most sought after goal. But it cannot be bought, it is directly proportional to TIME. So I have to put in the hours over a time period and let the gradual gain in experience build and build and build. In the midst of battle the thing that's clear to me despite loss is that I CAN BEAT it. Now all that's left to do is gain experience and do it, I mean defeat it. Then I'm Home free. How long? My guess would be 6 months. Its such a beautiful game! I mean, how ridiculous is this? I am losing but I still love the game. Why? There can be any number of reasons why I love the game but the best-est one is that I & only I am totally responsible for my condition - nobody to blame, nobody to distract me - I love this feature of being in a game that requires nobody else but I - to succeed Lack of trading experience is a hurdle nevertheless.
Trading update: I am losing in the current open ongoing positions but despite this I forced myself to not be an ass**** and rub it off on others who come into contact with me today. An InstaCart girl just delivered a grocery order to me. I'm losing but she don't have to. There was already a 5 dollar tip in the online order. But I gave her an extra $25 in cash at the door. She was shocked and looked at me with a smile and asked, "are you OK?" I said, "NO, I'm not OK so you better take that and run before I change my mind!
3 different types of beer, one of them being the Belgian Blue Moon. My buddy, Greg turned me on to this one and it clicked.
Food for thought for those who cannot decide on whether the current massive rally from June 16/2022 is a new bull market or just a Bear market rally? You know my opinion. Its a Bear market rally. When it terminates, the primary downtrend will retrace ALL of the rally and take out the June 16th low to the downside and accelerate down. So now on to you chaps who are calling this a new bull market: Dig this. Let's just keep it simple by focussing only on QQQ here as an example becasue I am watching it live and still in a trading session that is kicking my ass but the concept holds true for application to the Dow Jones, SPX, DJT, IXIC, NYA. Here goes: Q has taken out the 6/2/2022 wave high. So we have a higher high. Now what comes next is crucial. Q must then correct and correct deeply, meaning penetrate deeply into the rally meat but then without taking out the low of June 16, reverse and take out the June 2 top on a closing basis daily timeframe. Then and only then does Dow Theory fire off a signal for a new bull market. Now this still won't tell you how long the new bull will last. Heck it migh only last a month or 2 but it is a bull market signal as per Dow Theory. WAVE theory complicates this Dow Theory stuff becasue even if Q rallies to waaay deep into the drop from the all time top it can still be a bear rally because it is a Wave 2 up. But let's just stick with Dow theory and observe if we at least get the meat of what I outlined here.
And its still only MY opinion and you guys know what Clint says about opinions? For our international trader friends who are not familiar with this saying .................. Clint Eastwood said, "Opinions are like ass*****, everyone has one!"
QQQ update . 200-day ema is at approx 327. Count my loss ongoing till there. I'll suffer to there. Telling you this in advance as the loss widens.