Ed_M, it sounds like you may be more of a swing trader like me (
as opposed to a day trader). If you don’t mind me asking, since I
am still developing my style, do you hold your longs and then buy
more when they are lower as you described, or do you sell some long
and buy shorts now. I am wondering if you swing between the two and
have some in each camp at the same time. Thanks. I
know each person has their own technique for risk
management.
Thank you, Matt. That is exactly the conflict. I appreciate you
understanding the dilemma. There is cognitive dissonance with the
two charts. I “knew” that we were likely to pop up today but
help half of my SQQQ anyway because if I sold it, I could not buy
it back again for two days in my IRA. And if I bought TQQQ
yesterday, I could not sell it until. Monday. I will be glad when
the new 1day settlement rules kick in in May 28, I
think.!
To clarify, I still own some SQQQ. I trimmed it yesterday, but
have not sold all of that because I believe we still need to set a
lower high because of the break in symmetry that has been discussed
extensively. So, if we are in for another short bull run of at
least 2 days, I can sell my SQQQs or buy some TQQQ to hedge short
term, but I am expecting that we need to reverse lower due to the
symmetry break. Thanks, and I apologize for being so needy, but I
am still confused.
Thank you, Steve. I have reviewed your posts. Sometimes I don’t
understand your lingo. I don’t know exactly what run the recent
highs means. That’s not meant as a criticism but that the
communication is not clear to me. So, we ran through the recent
highs and tagged the 50 MA on the 2 hour chart below. I see 5
waves to accomplish that. Are you suggesting that since we broke
the pennant ( which was under lied in the newsletter, we should be
in for more of a sustained bullish run? I can not day
trade in my IRA account, so I need to be willing to commit
for 2days when I buy. Thanks for clarifying. I am not trying
to be difficult or insulting. Sometimes I just do not understand
your meaning.
I need some help interpreting these perhaps conflicting charts.
What I see is a clear breakout from the pennant and
then reaching the what I believe is a demand zone and turning back.
So because it broke out from the pennant, does it regroup and
then keep going up? QQQ hit the 61.8%. Fib, and SQQQ
backtested its breakout. That would suggest that we could be
heading back down. Could someone please help me straighten up this
conflict? I easily look at too many side things and confuse myself.
I will commit myself and say that the preponderance of the
evidence to me seems to be that we should be headed back down now,
but my instincts are not very good. Thanks ahead of time for any
insights or correction of my thinking.!
My only skeptical comment would be regarding timing. I would
expect the Fed to do what they need to, to keep the market propped
up until the election in November. I realize that has nothing to do
with TA, but it may affect the markets. I recall brophy’s
post about presidential election cycles.
No, I haven’t blown up my plan. I have made almost 20k in
profits the last two days. I have paid for this service for over
ten years and followed it pretty closely, but you’re right, I
struggle with developing a plan. And you’re right , I tend to
swing too hard and too fast, then react. Also I am a swing
trader, not a day trader, so interpreting day trade comments and
trying to convert them to swing trade action is a bit difficult.
I am using IRA money and have to respect the 2 day
restriction on selling. Per our DUST/GDX example, maybe I can learn
to enter and exit in increments so that I have more flexibility in
timing and can make more gradual shifts instead of too much all or
nothing. I have learned a lot from you, but not enough, and I tend
to trigger you when I ask a dumb question. Sorry for that. I’ll
work on it.
My observations are that this is the C leg of a possible ABC
reversion. I believe that Gold may be in a longer term
bull market, so this may be the time to take some profits. I
don’t think that 5 legs are likely in this scenario, but I could be
wrong.
The community is delayed by three days for non registered users.
Thanks, mastermind. Great points.
Close to pivot point on SPY. Looking for reversal to ...
Posted by mdgfain on 6th of May 2024 at 02:49 pm
Thanks, mastermind. Great points.
Thanks for sharing your thoughts,
Close to pivot point on SPY. Looking for reversal to ...
Posted by mdgfain on 6th of May 2024 at 02:44 pm
Thanks for sharing your thoughts, Ed_M.
Ed_M, it sounds like you
Close to pivot point on SPY. Looking for reversal to ...
Posted by mdgfain on 6th of May 2024 at 02:19 pm
Ed_M, it sounds like you may be more of a swing trader like me ( as opposed to a day trader). If you don’t mind me asking, since I am still developing my style, do you hold your longs and then buy more when they are lower as you described, or do you sell some long and buy shorts now. I am wondering if you swing between the two and have some in each camp at the same time. Thanks. I know each person has their own technique for risk management.
Ok. Thanks.
I need some help interpreting these perhaps conflicting charts. What ...
Posted by mdgfain on 3rd of May 2024 at 12:32 pm
Ok. Thanks.
Thank you, Matt. That is
KISS systems heads up
Posted by mdgfain on 3rd of May 2024 at 12:18 pm
Thank you, Matt. That is exactly the conflict. I appreciate you understanding the dilemma. There is cognitive dissonance with the two charts. I “knew” that we were likely to pop up today but help half of my SQQQ anyway because if I sold it, I could not buy it back again for two days in my IRA. And if I bought TQQQ yesterday, I could not sell it until. Monday. I will be glad when the new 1day settlement rules kick in in May 28, I think.!
Thanks, mastermind.
Very likely IBD follow-through day today, confirming a rally.
Posted by mdgfain on 3rd of May 2024 at 12:10 pm
Thanks, mastermind.
To clarify, I still own
I need some help interpreting these perhaps conflicting charts. What ...
Posted by mdgfain on 3rd of May 2024 at 11:59 am
To clarify, I still own some SQQQ. I trimmed it yesterday, but have not sold all of that because I believe we still need to set a lower high because of the break in symmetry that has been discussed extensively. So, if we are in for another short bull run of at least 2 days, I can sell my SQQQs or buy some TQQQ to hedge short term, but I am expecting that we need to reverse lower due to the symmetry break. Thanks, and I apologize for being so needy, but I am still confused.
Thank you, Steve. I have
I need some help interpreting these perhaps conflicting charts. What ...
Posted by mdgfain on 3rd of May 2024 at 11:48 am
Thank you, Steve. I have reviewed your posts. Sometimes I don’t understand your lingo. I don’t know exactly what run the recent highs means. That’s not meant as a criticism but that the communication is not clear to me. So, we ran through the recent highs and tagged the 50 MA on the 2 hour chart below. I see 5 waves to accomplish that. Are you suggesting that since we broke the pennant ( which was under lied in the newsletter, we should be in for more of a sustained bullish run? I can not day trade in my IRA account, so I need to be willing to commit for 2days when I buy. Thanks for clarifying. I am not trying to be difficult or insulting. Sometimes I just do not understand your meaning.
I need some help interpreting
Posted by mdgfain on 3rd of May 2024 at 11:16 am
I need some help interpreting these perhaps conflicting charts. What I see is a clear breakout from the pennant and then reaching the what I believe is a demand zone and turning back. So because it broke out from the pennant, does it regroup and then keep going up? QQQ hit the 61.8%. Fib, and SQQQ backtested its breakout. That would suggest that we could be heading back down. Could someone please help me straighten up this conflict? I easily look at too many side things and confuse myself. I will commit myself and say that the preponderance of the evidence to me seems to be that we should be headed back down now, but my instincts are not very good. Thanks ahead of time for any insights or correction of my thinking.!
Do or die? Up up
Posted by mdgfain on 3rd of May 2024 at 09:17 am
Do or die? Up up and away, or down in a big C wave? What’s your vote?
Silver trying to back test
Posted by mdgfain on 2nd of May 2024 at 02:52 pm
Silver trying to back test the breakout?
My only skeptical comment would
SPX and one scenario the abc
Posted by mdgfain on 27th of Apr 2024 at 10:02 am
My only skeptical comment would be regarding timing. I would expect the Fed to do what they need to, to keep the market propped up until the election in November. I realize that has nothing to do with TA, but it may affect the markets. I recall brophy’s post about presidential election cycles.
Extremely helpful charts. Thanks for
SPX and one scenario the abc
Posted by mdgfain on 27th of Apr 2024 at 09:28 am
Extremely helpful charts. Thanks for the perspective and potential scenarios, Matt.
Ok. Thanks. Sorry for the
Steve, Is it a good time to sell DUST?
Posted by mdgfain on 23rd of Apr 2024 at 04:27 pm
Ok. Thanks. Sorry for the confusion. It was under my heading on the Community post, and I didn’t open the whole chain. I have been working.
No, I haven’t blown up
Steve, Is it a good time to sell DUST?
Posted by mdgfain on 23rd of Apr 2024 at 02:44 pm
No, I haven’t blown up my plan. I have made almost 20k in profits the last two days. I have paid for this service for over ten years and followed it pretty closely, but you’re right, I struggle with developing a plan. And you’re right , I tend to swing too hard and too fast, then react. Also I am a swing trader, not a day trader, so interpreting day trade comments and trying to convert them to swing trade action is a bit difficult. I am using IRA money and have to respect the 2 day restriction on selling. Per our DUST/GDX example, maybe I can learn to enter and exit in increments so that I have more flexibility in timing and can make more gradual shifts instead of too much all or nothing. I have learned a lot from you, but not enough, and I tend to trigger you when I ask a dumb question. Sorry for that. I’ll work on it.
Thanks. That was helpful.
GDX 120 Additional Comments
Posted by mdgfain on 23rd of Apr 2024 at 02:34 pm
Thanks. That was helpful.
Thanks.
Steve, Is it a good time to sell DUST?
Posted by mdgfain on 23rd of Apr 2024 at 11:00 am
Thanks.
My observations are that this
Steve, Is it a good time to sell DUST?
Posted by mdgfain on 23rd of Apr 2024 at 10:59 am
My observations are that this is the C leg of a possible ABC reversion. I believe that Gold may be in a longer term bull market, so this may be the time to take some profits. I don’t think that 5 legs are likely in this scenario, but I could be wrong.
Speculating.
Steve, Is it a good time to sell DUST?
Posted by mdgfain on 23rd of Apr 2024 at 10:52 am
Speculating.
Steve, Is it a good
Posted by mdgfain on 23rd of Apr 2024 at 10:46 am
Steve, Is it a good time to sell DUST?