Another great comeback from the BULLS!
It's the normal Monday pattern Brother. My VXF remains on a buy signal. So all the other noise, and guesser's opinions don't mean much to me. Trade your system I say and ignore all the rest. I use patterns for VST trading. The odds were very high we would gap up this morning.....
Intraday behavior has remained consistent and bearish.
Before any major downtrend for a sector there will be heavy buying just after the opening bell on trading days which follow non-trading days.
This is because the least-experienced participants use mostly market orders and they place them on their days off when they have free time, thereby crowding in at the open on days which follow non-trading days.
Usually this means the Monday opening bell although it can also mean a day like December 26, 2018 following the December 25 holiday when we had similar amateur crowding--in this case piling out at the exact bottom.
During the past several Mondays there has been a repeated consistent pattern of U.S. equity indices surging higher at the opening bell and fading thereafter.
Kaplan
https://seekingalpha...kaplan-gdxj-sea
Sure, it's still a market on the uptrend but I will not be a new buyer at these levels and sentiment.
That's why I prefer to daytrade, with IT options trades, and LT protfolio
Daytrading since 2017 has been about the best ever in the history of the market.
Same here Brother, but I have been VST/day-trading much longer. I trade in the direction of the trend Brother. I use the 1 hour chart for VST trading and the daily keeps me on track....
As long as you have a system that makes you money, all the talk, bull crap, and guesses should mean nothing to you. I ignore most posts, but find a few traders here worth looking over.
To many traders in these forums trying to pick tops and bottoms... I have been there and done that... The news events do cause some whipsaws, but also some nice trading ops.
They say you can't VST trade because most have no system for trading. I follow my system, and SS has a good one too.... I don't ride down 20% moves like some here do, but I guess they are LT investors. I buy VXXB these days....
No decay trades, or leverage, or short positions in my LT funds.... Da-Cheif always talks about is 666 he backed up the truck... VXF was @ $22.71ish.... What will it be at the next Bear market Botton? Unlike others,
I have NO IDEA when this move will end, but I don't ride moves down and go long when I get the signals....
SS has one of the few trading systems I watch these days, but the volume dude is on i track too... Thomas....
https://stockcharts....977&a=651053023
Edited by robo, 18 March 2019 - 07:16 PM.