Unfortunately I'm not in a position to get a long signal. Given the longer term outlook, the failed rallies are to be expected. Whoever nails the next IT rally has my respect.
Agree, when the longer term cycles roll over its best not to fight it. New highs not looking very likely. This is coming a few weeks ahead of schedule in my opinion. If I'm interpreting that correctly, its a very ugly scenario later on. Speculation from me, all that work the NKOTB did in the past is going to cause investors a lot of pain.
Nope, i was too exhausted after such action. I believe there will be opportunities today to play the bounce. They will likely back test the 1245 area during RH. Don’t rule out some marginal ( quick) lower low. In any case that would be counter trend play so be extremely careful and manage actively. GL
Unfortunately I'm not in a position to get a long signal. Given the longer term outlook, the failed rallies are to be expected. Whoever nails the next IT rally has my respect.
ReplyDeleteIt is closer than most ppl think but I agree it doesn’t worth to play it , better wait until extinguished and reshort IMO.
ReplyDeleteAgree, when the longer term cycles roll over its best not to fight it. New highs not looking very likely. This is coming a few weeks ahead of schedule in my opinion. If I'm interpreting that correctly, its a very ugly scenario later on. Speculation from me, all that work the NKOTB did in the past is going to cause investors a lot of pain.
ReplyDeletePata, wow I got clobbered last couple of days. Any words of wisdom? I'm hoping for a bounce, but not sure at all.
ReplyDeleteHi pata, did you go long at the close today? Looks so overdone, but I think it will go back to 1300. I bought some SPY at 126. Good luck!
ReplyDeleteHi,
ReplyDeleteNope, i was too exhausted after such action. I believe there will be opportunities today to play the bounce. They will likely back test the 1245 area during RH. Don’t rule out some marginal ( quick) lower low. In any case that would be counter trend play so be extremely careful and manage actively.
GL
Hi,
ReplyDeletePlease read my comment at this same post .
GL