Loading ...I am still hoping to see a long base created by staying within the recent few weeks trading range depending on what chart you are watching. Base case still remains this is a wave 2 correction but since it has not gone as I expected my confidence level has dropped. I wish I could call a bottom but other than it likely being a fib retracement, I am waiting for what looks like an impulsive move followed by what looks like a corrective move using a 10 minute chart. I feel we are close so I have added a bit here and there after lightening a week or so ago.
Regardless, if my group of positions as a whole turn negative I will begin paring regardless of my bull belief.
One thing about the game yesterday, run the stocks up and the run them down to hit where the stops are. The players (or the algos) know where and how much stops are and use that to bleed the investors imo. Not that my positions are big enough to matter, but if I were to use hard stops, I would place them at an unusual choice – not below some fib or common ma or ema.
Just musing as I decide whether to sous vide the flank steak or green egg it.
aurum