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#1 humbled

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Posted 11 October 2018 - 10:11 AM

Someone here shared this chart setup ten years ago. I can't remember his screen name, but he posted a lot and his avatar was of a toothless guy smoking a corncob pipe. Rodgerdodger! That was it.
 
I liked the chart a lot and set a version of it up in Stockcharts that I look at pretty much every day when I'm in the market.
 
Usually, I only give it a cursory glance. Yesterday, it appears to have signaled a major shift. We'll see. Nothing is ever certain. And the 52-week EMA is still rising, so there may be work to do to turn that down. But this is a red flag.
 

BIT #10:

Donít focus on the money. Focus on executing trades well.

If you are getting in and out of trades rationally, the money will take care of itself.

--from 40 Bits of Trading Wisdom (posted by Capitulation years ago on FF)

#2 K Wave

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Posted 11 October 2018 - 10:36 AM

Yep, that chart looks very similar NY Composite....except a bit worse!

 

Unless bulls can reclaim NYA 13K, I am now operating under bear market trading approach....



#3 humbled

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Posted 11 October 2018 - 10:55 AM

Disclosure: I have been long volatility (via UVXY) since mid-August. First sells in my position could trigger today.


BIT #10:

Donít focus on the money. Focus on executing trades well.

If you are getting in and out of trades rationally, the money will take care of itself.

--from 40 Bits of Trading Wisdom (posted by Capitulation years ago on FF)

#4 Rogerdodger

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Posted 11 October 2018 - 12:43 PM

Yuck yuck yuck...

.popeye.jpg

 

PS: If I shared it, it's because I stole it and liked it!

 

PS: I'm just waiting for you-know-who to signal the all clear.


Edited by Rogerdodger, 11 October 2018 - 12:46 PM.