Long at SPX 2720 with stop at 2713
Edited by NAV, 05 March 2018 - 02:53 PM.
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Posted 05 March 2018 - 03:09 PM
First time poster, long time lurker. Specific follower of posts by you, fib, and Mark. I've been long with Mark since his "Secret Hedge fund" buy signal was announced shortly before the market open on Tuesday Feb 6. I have also always taken your posts very seriously--your post 'Change of Market Character' is why I had cash on hand to invest at that time! So, thanks to both of you.
Previously you had described a potential break in the opposite direction today as a 'swing short' and elaborated that you saw it as a "Wave 3" type event.
Do you view this swing long as an event of comparable magnitude?
Posted 05 March 2018 - 03:15 PM
This is a dynamic environment. Things change very quickly. I way i see it, if we sustain the rally into the close, we are headed towards 2800. If we fail here and breakdown, we could still have a wave 3 down kind of selloff. Right now, as it stands, i will have to go with the 2800 scenario. If it changes, i will update here.
"It's not the knowing that is difficult, but the doing"
Posted 05 March 2018 - 03:27 PM
You know it's only fitting that we celebrate the 9th BirfDay of the Bull Market with new highs tomorrow...
I'll gonna channel W.D. Gann from the cosmos and wait for that higher high
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.