yep - again it's relative to the time frame you are following.
Long term it's in an uptrend, short term it was extended and may be
due for consolidation perhaps that move was a wave B on the daily
and needs a wave C? If one has a long term position that they
established way in July or January of last year, you may or may not
want to react to a short term pullback and lose your position - or
you may wish to hedge that position with ERY. And if you are short
term with no swing position, then yes was a good short - it's
relative
just like NINE, it's given some short opportunities along the
way, but the trend has been strongly to the upside since early Oct
- if one bought at in the 4's with the intention of holding it for
a trend, worrying about the small pullbacks may have resulted in
losing that position 7 or 10 points ago.
again no one right answer - well the right answer is what
matches your plan and time frame: day trader, short term trader,
swing trade, position trade, hybrid trader etc
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yep - again it's relative
Steve was right about XLE was rather set up ...
Posted by matt on 18th of Jan 2023 at 01:07 pm
yep - again it's relative to the time frame you are following. Long term it's in an uptrend, short term it was extended and may be due for consolidation perhaps that move was a wave B on the daily and needs a wave C? If one has a long term position that they established way in July or January of last year, you may or may not want to react to a short term pullback and lose your position - or you may wish to hedge that position with ERY. And if you are short term with no swing position, then yes was a good short - it's relative
just like NINE, it's given some short opportunities along the way, but the trend has been strongly to the upside since early Oct - if one bought at in the 4's with the intention of holding it for a trend, worrying about the small pullbacks may have resulted in losing that position 7 or 10 points ago.
again no one right answer - well the right answer is what matches your plan and time frame: day trader, short term trader, swing trade, position trade, hybrid trader etc