Thank the put buyers/shorts for this continued rise. This market
isn't going to stop going up from a trend perspective until they
quit insisting on shorting everyday and posting the same news.
Russia, inflation, rate cuts, etc. The angrier they get, the higher
it goes. It will end at some point when the sentiment changes and
possibly how the money flows. Markets don't crash when the masses
are sounding the horn. Right now, the market just doesn't care, so
redraw the charts again if you are determined to be
right.
Just like the market was complacent on the bearish front when we
were staying down in February on the same news everyday. Same
story, different day. People were piling in guaranteeing we were
going to see new lows. There is one way to know what to do, respect
the price action until conditions CHANGE. I have one statement on a
white board near my desk. "Be flexible when markets
change".
If one was bearish, they had to stop being bearish when the
trend changed at 4,300 and provided evidence that a new trend had
begun. We are still in that trend. This market has whipsawed a lot
of bulls and bears. It is a time where allocations and targets mean
a lot. No need to check things every hour or few hours unless one
is a trader or has decided to spend some of life that way. Look at
the close prices if needed or set alerts and go back to life.
Priorities matter. Have a plan and execute upon it when the time
comes to do so. I do my work in the mornings then when the market
opens, I'm not concerned, just following the plan. I don't make the
rules, I just play by them. Let's see what the market gives today.
Risk/reward.
Thank the put buyers/shorts for
Posted by fundamentalvalues on 5th of Apr 2022 at 06:48 am
Thank the put buyers/shorts for this continued rise. This market isn't going to stop going up from a trend perspective until they quit insisting on shorting everyday and posting the same news. Russia, inflation, rate cuts, etc. The angrier they get, the higher it goes. It will end at some point when the sentiment changes and possibly how the money flows. Markets don't crash when the masses are sounding the horn. Right now, the market just doesn't care, so redraw the charts again if you are determined to be right.
Just like the market was complacent on the bearish front when we were staying down in February on the same news everyday. Same story, different day. People were piling in guaranteeing we were going to see new lows. There is one way to know what to do, respect the price action until conditions CHANGE. I have one statement on a white board near my desk. "Be flexible when markets change".
If one was bearish, they had to stop being bearish when the trend changed at 4,300 and provided evidence that a new trend had begun. We are still in that trend. This market has whipsawed a lot of bulls and bears. It is a time where allocations and targets mean a lot. No need to check things every hour or few hours unless one is a trader or has decided to spend some of life that way. Look at the close prices if needed or set alerts and go back to life. Priorities matter. Have a plan and execute upon it when the time comes to do so. I do my work in the mornings then when the market opens, I'm not concerned, just following the plan. I don't make the rules, I just play by them. Let's see what the market gives today. Risk/reward.
Nice post. Follow your plan
Posted by steverobin on 5th of Apr 2022 at 08:34 am
Nice post. Follow your plan and block out the noise.