Not sure if the technicals can say sure what happens more but if this is the end of the quater which it is,then I think the market is more up from monday to thursday and if selling starts it will be friday after the bonuses are made and the portfolio numbers look ok for the clients. Window dressing time imho
I think you needed a little more patience my friend. When i started trading I had the right direction most of the time..but I was always a little early so I would get out for a loss when the move wasnt immediately in my favor..and then like clockwork just a few ticks later I would have been profitable. Ive learned to now trust my gut ( which is why Ive been adding some shorts as price is going up ).
Logikos, so what's your opinion on midterm trend? Do you think the market has bottomed? Or another leg down to 11600 for Dow?
Monday and the entire week will be up. It's portfolio rebalancing season for institutional money, and they're seeking yield and security in blue chips. That will certainly bode well for the Dow. Plus, Helicopter Ben speaks next week. That silk tongued devil that he is. I'm long oil, oil service, and oil refining. I plan on going long metals and mining, and shipping, to try to eek out whatever additional mo they have. I'll take the last 10% or 20% if it will surrender itself to me. Of course, everything I said is complete horse shit, and if I'm right, it will be attributable to coincidence, because no one can predict the future, though I do genuinely long to acquire the skills that would allow me to consistently make profit on an intraday basis, which I know is not intellectually easy nor for the emotionally-attached-to-their-money.
like i mentioned before, cnbc had some guy on saying that its the last week and that window dressing will take place and probably push the dow to new highs, if this is the case I will take note of it and every last week at the end of each quarter I will go all in 100% long, SPY, QQQQ, DIA, IWM, QLD, DDM etc....
Would you mind posting your cycle charts? why don't you start a journal or better yet an independent blog where you can delete most of the nonesense you'd get here on ET. I'd really like to see your work. Larry pesavento is probably the only other cycle trader I've found who actually trades for a living. Personally I'm knee deep in OTM puts expecting a correction to lower lows. Most of the idiots on here are all long, so I'm happy to stick with the puts for now.
by the way anunakki. do you at all realize the importance of nick name you selected do you know anything about real anunakki
oh god...I expect a carbon copy of today...new home sales look good, spike happens, then the giveaway goes and another relative flat day occurs... The new highs could not be broken today, so it'll be flat trading or relatively down a bit...