That is a great example of the "shoeshine boy" indicator.
If you don't know about it, Joe Kennedy got out of the stock
market in 1928 because as he said (and I misquote) "when every shoe
shine boy, taxi driver, and doorman has a stock tip, it is time to
get out of the market." While it is probably a terrible
timing tool, it does indicate the party is close to ending. I
had some neophyte friends as me over lunch last week if I was
trading GameStop and if I had any good stock tips. Of course
I told them to stick to their plan if they had one.
Thanks Matt. I super appreciate you posting your view of
the market prior to the close when there is still time to make
adjustments. The supporting charts add validity to your
perspective. I've been looking to add to my long positions
prior to the election. That is typically a bullish event when
the uncertainty unwinds. Of course I'd like to optimize my
entry point(s) as I scale in. Knowing you see a possible
lower entry has value.
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That is a great example
If you don't have long term call options on gold, ...
Posted by salieri on 12th of Apr 2021 at 04:11 pm
That is a great example of the "shoeshine boy" indicator. If you don't know about it, Joe Kennedy got out of the stock market in 1928 because as he said (and I misquote) "when every shoe shine boy, taxi driver, and doorman has a stock tip, it is time to get out of the market." While it is probably a terrible timing tool, it does indicate the party is close to ending. I had some neophyte friends as me over lunch last week if I was trading GameStop and if I had any good stock tips. Of course I told them to stick to their plan if they had one.
Thanks Matt. I super appreciate
Appear to keep knocking on the floor of all indices, ...
Posted by salieri on 14th of Oct 2020 at 03:54 pm
Thanks Matt. I super appreciate you posting your view of the market prior to the close when there is still time to make adjustments. The supporting charts add validity to your perspective. I've been looking to add to my long positions prior to the election. That is typically a bullish event when the uncertainty unwinds. Of course I'd like to optimize my entry point(s) as I scale in. Knowing you see a possible lower entry has value.