Posted by mastermind on 26th of Oct 2023 at 07:05 pm
By my approximate count, the last 25-30 stocks exited in the STS
tables took a loss. I guess you've really got to pick your spots
with this to keep from death by a thousand cuts. Or at least take
some profits along the way before the downturn.
Posted by DigiNomad on 27th of Oct 2023 at 09:45 am
It was a whipsaw period. I personally didn't take hardly any of
the longs because odds favored a whipsaw period after such a long
winning streak (and Matt also predicted it)
I didn't personally take many longs because we were so near the
top of the ascending channel when most triggered. Limited
short-term return potential.
Let me offer some advice - you want to primarily trade in the
direction of the primary trend. Start with indices, then move
to sectors, then to stocks within the sector (if sector strong then
look for longs and if weak shorts while being mindful if such
sectors becoming extended).
Since July the primary trend has been LOWER - lower lows and
lower highs with throwback rallies. Surprises tend to move
in the direction of the prevailing trend.
By my approximate count, the
Posted by mastermind on 26th of Oct 2023 at 07:05 pm
By my approximate count, the last 25-30 stocks exited in the STS tables took a loss. I guess you've really got to pick your spots with this to keep from death by a thousand cuts. Or at least take some profits along the way before the downturn.
It was a whipsaw period.
Posted by DigiNomad on 27th of Oct 2023 at 09:45 am
It was a whipsaw period. I personally didn't take hardly any of the longs because odds favored a whipsaw period after such a long winning streak (and Matt also predicted it)
I didn't personally take many longs because we were so near the top of the ascending channel when most triggered. Limited short-term return potential.
Let me offer some advice
Posted by steve on 27th of Oct 2023 at 09:59 am
Let me offer some advice - you want to primarily trade in the direction of the primary trend. Start with indices, then move to sectors, then to stocks within the sector (if sector strong then look for longs and if weak shorts while being mindful if such sectors becoming extended).
Since July the primary trend has been LOWER - lower lows and lower highs with throwback rallies. Surprises tend to move in the direction of the prevailing trend.
Great advice Steve - worthy
Posted by craigm on 27th of Oct 2023 at 10:16 am
Great advice Steve - worthy of a sticky post on the monitor as a constant reminder for me