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Hit resistance as expected. Would like to see it tighten up here and push through. It could be minutes or days. The 50-day moving average should hold for the bullish scenario.
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Just went to cash. I'll be looking for a low risk pullback buy around the 10-day or even 20-day. Otherwise I want to see if we are able to overtake this resistance line. Locking profits for now. I still think the scenario I drew out is still likely nonetheless, but I'm cash now until I see whether or not this resistance line will end the rally.
Just went to cash. I'll be looking for a low risk pullback buy around the 10-day or even 20-day. Otherwise I want to see if we are able to overtake this resistance line. Locking profits for now. I still think the scenario I drew out is still likely nonetheless, but I'm cash now until I see whether or not this resistance line will end the rally. _
I'm watching the 150-day. And I'd like to see around $314.56 hold for resistance. This was the short-term high before the June CPI report that brought QQQ gapping down. CPI and PPI will be two big hurdles next week.
I'm watching the 150-day. And I'd like to see around $314.56 hold for resistance. This was the short-term high before the June CPI report that brought QQQ gapping down. CPI and PPI will be two big hurdles next week.
QQQ has bounced down from the 150-day SMA again. CPI report, here we come!
Wealth accumulation takes time and much patience. I mean isn't patience really spelled PAY-tience. Im retired now but I traded for 15 years learned much.
1. cash is a position
2. Focus on weekly charts- daily is just noise
3. the market is a taker- a wealth transfer mechanism which is very efficient
4. let winners run
5. practice your strategy, post earnings announcement drift is best strategy out there- both long and short
6. Forget about the stupid news
7. Paytience
8. stay fit so you can enjoy your money
Wealth accumulation takes time and much patience. I mean isn't patience really spelled PAY-tience. Im retired now but I traded for 15 years learned much.
1. cash is a position
2. Focus on weekly charts- daily is just noise
3. the market is a taker- a wealth transfer mechanism which is very efficient
4. let winners run
5. practice your strategy, post earnings announcement drift is best strategy out there- both long and short
6. Forget about the stupid news
7. Paytience
8. stay fit so you can enjoy your money
There are some great nuggets of wisdom in here, and congrats on being retired!
Man I’ve missed some decent entries this past few weeks for some quick trades.
I have time to start scanning again.
Yeah this rally has been very nice and pretty textbook. There is a case to be made this is a new bull market. If I had to bet, I'd say we will still have one more test or undercut for new lows, but the structure of this rally is what bottoms look like though. I'm 21.57% up in trading account and 11.62% up in "passive" account.
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