Edited by LMF, 20 July 2020 - 06:59 PM.
Stonks only go up
#11
Posted 20 July 2020 - 06:58 PM
#12
Posted 20 July 2020 - 07:59 PM
I don't get it, AAII is still low, breadth can't go up every day when it's at ATH's, volume breadth is meaningless,
yet the first day breaking out of a 6 week range with a measured move of 3540, bullish IT traders are turning bearish?
The indexes are being driven by a few major tech stocks.
IF/When people bail on them, the crash will happen.
Edited by Dex, 20 July 2020 - 08:00 PM.
17_16
#13
Posted 20 July 2020 - 07:59 PM
You guys made me nervous. SO all those index funds I bought in March & April had made enough profits so sold half of my portfolio at close today. (with Mutual Funds you always get closing price, buy or sell).
Now from fully long to half long. Planning to sell everything in August, and hoping to get back in at T-Giving.
pdx5. We may have our political differences.......but NICE Trade sir!
Breadth always stinks when the generals are only leading.
#14
Posted 21 July 2020 - 04:59 AM
You guys made me nervous. SO all those index funds I bought in March & April had made enough profits so sold half of my portfolio at close today. (with Mutual Funds you always get closing price, buy or sell).
Now from fully long to half long. Planning to sell everything in August, and hoping to get back in at T-Giving.
Good Trading!
#15
Posted 21 July 2020 - 05:22 AM
#16
Posted 21 July 2020 - 07:38 AM
I hold overnight on my day trades lol! I like what David Larew said about the SP500! "23.6% FAAMNG stocks - I thought it is 500 stocks - yep, but close to 25% are 6 stocks - So buying the close is the only way to play the S&P 500 - yep, according to the articles that came out. Just show up at 3:59 and Buy, then show up premarket and sell - play golf " Now he just has to learn about tennis lol!!
#17
Posted 21 July 2020 - 08:34 AM
It is likely time to start watching AAPL closely.
It has not traded below the 5 min 900 since April (way off the beginning of the chart below)...almost unheard of for a stock to go nearly 3 months without a good dip below the 5 min 900.
Usually, once this type of move finally breaks, it leads to a pretty good pullback, not just a one day and done type of deal.
As long as above, could still blow off a bit more, but time to start watching for signs of weakness which could lead to deeper pullback than might be expected.
Will now be starting to watch 1 min chart for potential sell signal going forward.
Edited by K Wave, 21 July 2020 - 08:35 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#18
Posted 21 July 2020 - 08:34 AM
BTW VIX seems to have made a definitive move below the 200 SMA yesterday, which it has been trying hard to do. Since its fuzzy with this will have to see.
#19
Posted 21 July 2020 - 08:45 AM
Rather ugly looking opening 15 min stick on MSFT after failing to go to new high...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#20
Posted 21 July 2020 - 08:45 AM
FB as well
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy