I'll see your Patron and raise you a bottle of Blantons.
You know Whipsaw...it could partly be a knee jerk reaction to what Powell said but interest rates on 10-year Treasury is ruling the day! It increased today....hold. on ...wait for it...up.to 1.55% from 1.47.. up by 5.44%...gosh. I remember rates getting much higher decades ago. If that happened now, the sky would just freakin fall.... pretty sure about it!!! This is ridiculous.
I am now hoping for a little bounce to exit. We have been on quite a tear up for months! Maybe it could go up tomorrow and into next week, but thinking maybe it continues down for a week or two. Noticing Stochastic is still slightly above 20...at 21.81 so me thinks it has more room to drop? ...ugghh...maybe a little up and then a few more diwn? I dunno. Thing is I can't ride it down any further. Capital Preservation. I will use one IFT to exit TOMORROW regardless of what happens, and another IFT left to reenter later this month. IF its a double bottom, oh well....I will just say lesson learned. But, if I were not in market this would still not be at a buy. My insanity was to stay in after 13 EMA dropped below 20 SMA and to buy in last Friday and not exit on Monday with that beautiful pop up.
So here is today's lovely "Fugly" chart! ..
Bottom green line shows my 50% entry on Feb 1 and top green line showing my 50% entry on last day in Feb. If it would get anywhere between those two points intraday, I would be happy to exit. Of course above those two would make leap for joy! Actually getting out will likely have same effect! Wish my sister was here visiting with a big bottle of Patron!
Futures slightly down right now. Best wishes to you All*!!!!!
Dwcpf.png
Last edited by DreamboatAnnie; 03-04-2021 at 05:43 PM.
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
I'll see your Patron and raise you a bottle of Blantons.
I might need to hit both!
So, IFT submitted going to full exit. Will take whatever happens and regroup. Of course as soon as I exit, I expect a large bounce because I'm good at exiting on a bottom... which is good news for you all.
Wish the bounce would happen today, but doubtful given its current drop since earlier this morning. Now at -1.53 or so.. I really do not like the down Slope of mid-point on Bollinger band and price sliding down lower band. Eventually it will pull away and bounce up. For now, I am giving it a rest and will work to slap myself a little more for being so undisciplined and not following my strategy, which I think is sound.
If I see a bottom next week, I will reenter. Best wishes to you all!
Dwcpf.png
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
Definitely agree RangerRay! I have gone into negative territory for the year (as of yesterday), so I must take action to preserve capital. It is very hard to dig out of a big deficit. Afew percent down is manageable for me. So here goes! Wishing you and everyone a beautiful day and weekend!
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
I'm only in 26%. Last year I let it ride and it came back pretty quickly. If I get out I for sure will miss the turnaround.. Guess I'll just hold my nose and try to forget what's happening.
Ok. Not sure but does this look like big head and shoulders forming?
So maybe price pops up to 2010 and then continues down.... just a guess...
Dwcpf.png
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
I don't know what the Market's Smoking, but I want some!baddogsmall.jpg
DB, alot of others on TSPTalk are also saying big head and shoulders forming. I didn't get out soon enough for the day; so waiting to see what Monday looks like. From november to December I was up 6%. up another 6 from Jan to my last IFT. from that point to now; i've not only lost all gains, i'm 6% below. I too didn't follow my own rules. This market has had a lot of people investing by the seat of their pants 'cause its not making any sense. I'm hoping it is a a big head and shoulders; the move up to the next shoulder would sure help cut my losses - but, maybe smarter to get out before it drops more... who knows these days. Best of luck to all!
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
MMK, It could very well pop some next week. If it is H&S I would not expect to get even with January high...a bit lower, before another drop. But will see... no telling. Romulus on GrokTrade thinks markets higher in 4 months ...I agree! But he also mentions increased volatility this year. I will just watch for reentry. I feel very thankful for the unexpected pop this afternoon. Best wishes to you!
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
Couldn't have turned out better for your exit today dba!! Congrats!
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