Taking profits as "sideways to down" possibility triggered.
Posted 07 December 2016 - 02:18 PM
Taking profits as "sideways to down" possibility triggered.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
Posted 07 December 2016 - 02:19 PM
Personally, I'm fully long and passing on Sell signals. Sure, we're overbought, but Cumulative A/D volume is at ATH's. The seasonality is super positive, too.
In my opinion, now is the time to be as aggressive as you can, and be more cautious later.
Mark
You have played last month spectacularly well.
Posted 07 December 2016 - 03:27 PM
changed my mind, will hold my remaining 40%, wishing it was 75%. even if we are at a short-term high, it is doubtful we will stop here; should be more $ wanting in, which should protect against much pullback.
Posted 07 December 2016 - 03:34 PM
Personally, I'm fully long and passing on Sell signals. Sure, we're overbought, but Cumulative A/D volume is at ATH's. The seasonality is super positive, too.
In my opinion, now is the time to be as aggressive as you can, and be more cautious later.
Mark
You have played last month spectacularly well.
Thanks. I still put my pants on one leg at a time, though.
<all glory is fleeting... all glory is fleeting!>
M
Mark S Young
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Posted 07 December 2016 - 09:28 PM
upon further review, i will probably increase my long position from 40% back to 70%-75% tomorrow on a flat to lower opening. it takes a lot more than some overbought readings to stop a move like this. it will move higher relentlessly, and will not top out until it has pulled back from higher highs, and then continues higher until finally the higher highs are met with lower momentum highs. i expect this move continues to dec. 24 at least. inverted V tops rarely occur so dont expect much from a correction. expect lower openings on a regular basis after which the market goes higher; when the market gaps higher for several days then fails to hold, that's when i get nervous. dont pay attention to the size of the moves, they may be astounding and will suck you in to what appears an easy short; dont fall for it. it's easy to short here and hard to hang on for the big money. if this is a blowoff top, fine, but let it blow off, which takes more than one big day up.