26 replies to this topic

[andr99]

https://i.postimg.cc...sdaq-b-path.jpg

 

it was my best option back then, but I changed my mind some time later and decided that the first correction leg was enough, which thing was wrong

 

it was initially based on convinction that the nasdaq would have reached 12700..........but given that it was impossible a one leg correction, I came up with the path above. Here below the initial target idea  

 

https://postimg.cc/NLLM1kmm

Edited by andr99, 27 September 2023 - 08:46 AM.

[12SPX]

Funny I was just thinking of you lol!!  Tennis and market wise, glad your sticking to your bullish stance...  Our yearly tennis team final is tomorrow, were hoping for rain as were missing our two young stars lol!  One is away and the other went to Africa I think it was to try some qualifying into atp events.  He made it into one small Europe  one but nonetheless were gonna miss him lol!! 

[andr99]

Funny I was just thinking of you lol!!  Tennis and market wise, glad your sticking to your bullish stance...  Our yearly tennis team final is tomorrow, were hoping for rain as were missing our two young stars lol!  One is away and the other went to Africa I think it was to try some qualifying into atp events.  He made it into one small Europe  one but nonetheless were gonna miss him lol!! 

 

if you have a guy trying some qualifying into an ATP event, hat off to you. You must be all much better than I am. And I am very very good.  

Edited by andr99, 27 September 2023 - 09:22 AM.

[12SPX]

I won't even be playing in the 4 match final lol!!  No no, the league has grown over the years, have a lot of young players now that are playing down in the States with scholarships etc.  The tennis is pretty high level but us old guys can't compete with these young guys anymore although I do love their serves coming at me at 100 mph over the softy's from the old guys lol!!  When we play with them we let them do all the running lol!!  We've even started a retirement league, minimum 55 years old for us old guys now. 

[andr99]

when I was twenty I think I could have reached the second league (serie B it was called back then) level, which is not enough to try ATP qualifications, but is pretty high level as there

were just a few on that level in the whole country. At that point, tennis becomes a profession and you have to dedicate your whole day to it, which thing I never did. Last Saturday  

afternoon I played vs a guy that at the end of the match told me ''you play like a tennis master.......how many lessons did you take to reach such level ? ''. Always the same story, 

they can't believe I never took a single lesson. Even a real tennis master whose best ranking was in the first 20 national players, couldn't believe I never took a lesson. He told me

I was phenomenal if it was true that I never had had lessons. The truth is that when I was fourteen, in Summer I used to play two hours per day, seven days a week. And I did all the

experiments that it was needed to improve under any technical aspect. Obviously I was naturally gifted, but the main thing I put in, was reasonment, because technique is based on that. 

That is where I was always very strong, on reasoning.    

 

Probably it's due to my father's family. A cousin of mine played in the national soccer B league

Edited by andr99, 27 September 2023 - 10:01 AM.

[andr99]

getting back to the market, why shouldn' t I stick to my bullish idea ? Do you know how many ST or IT corrections we will have on the ride up to 2024 ? 

[12SPX]

As I've been saying forever now, the main thing the market has to deal with are the higher interest rates.  Because of the massive amount of people, business and government in debt it is going to take a very long time to absorb that and believe house prices are going to fall and with the rates so high and people in debt, its going to cause a major slowdown next year.  Last year we had the big correction in the market and a nice rebound this year and although I do believe we will still be a little higher than here going into year end I don't think we'll see new highs for a few years until we get it all washed through and will remain in a long term sideways grinding range for a few years to come, exactly the same as 2000 to 2013.  So when you say your bullish that's great as there will be lots of rallies and corrections like we've been seeing since the end of August and about -8% with this correction.  Now its time to go back up.  My biggest thing is I will only call it a bull market when we break through old all time highs and stay there and either way I'll be trading both ways.  Went long a little early here but I'm sure it'll work out in the end.

[andr99]

but the stock market goes up also because there's no other place to put your money in and obtaining decent returns. If bonds don't guarantee returns and nothing else does, where do the people put their  money ? 

I'm optimistic for another up ride till the end of 2024. 

[12SPX]

5% bonds are a great investment, even better when you can buy t-bills and still do futures trading.  The problem is the indebtedness.  All of my friends are well off although some of them only appear that way and their bills are piling up so they are cancelling trips for next year all over the place.  I can imagine what the middle class are going through.  Just happened to fall on the airline stock index and wow boom!!  Yes oils up but not that much, kinda helps me to think that that major slowdown next year is coming so at the least that will hold stocks back, don't think we'll visit 3500 again but do think were gonna be in a wide range which is going to be incredible for option selling!! 

[andr99]

you know, I respect all opinions and even more I respect yours because you proved in this forum along the years to be a person with nice personality. You're also a lot more experienced than I am in trading,

but however as I did in tennis I will follow my route while respecting yours because I believe in myself. Best of luck to both of us and good tennis matches to you and your whole team. 

Edited by andr99, 27 September 2023 - 02:17 PM.