TRENDING
There is a bull and bear case. I presume bulls ought to BTD, but so far, they are not. What I mean is that when a market does not rally on conditions in which it should (and no for heavens sake I am not talking about “oversold” conditions I am talking sentiment), something has changed. A few weeks ago I remember saying, something along the lines of “why is there no call buying on this high… why is short interest not falling?” Those questions are not for your benefit, they are questions I ask myself at each and ever new high – for a reason. I need to know if the bull market is acting like a bull market.
Or over the last 3 weeks, I have [...]
Boy, that was one big hare run – here’s the wrap up:
Throughout the entire session the ZL signal was range bound despite the rapid advance which was followed by a rapid descend. Boy, a bunch of folks got hurt today and this tape is rife of distribution.
Geronimo didn’t manage to make it through the session unscathed – we got two stop outs and one winner, so that makes one loser on the net side.
I leave you with something pleasant to look at 😉
Cheers,
Mole
Basic charting patterns – we have all used them, in particular early on when we got started. They offer gentle comfort and an easy to grasp paradigm introducing order into what previously appeared to be nothing but random noise or chaos. I personally am not a strong proponent of charting patterns and only use them in strict moderation. And when I do I actually apply them a bit differently – or call it a bit more deviously. One of the main reasons is that it seems to me that the weakest aspect of charting patterns are the rules defining their final resolution:
The generally accepted notion is that a pennant is a continuation pattern. However if you follow [...]
Very tricky tape again today – here it is in all its ignominy:
The spoos are running like a hare lately, best to be on our guard. Regarding that final comment – I have a chart for you subs: [amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck. [/amprotect] [amprotect=1,9,5,2]
I’m split here – that drop right before the bell kept us below the NLSL on the spoos. However we are sitting on [...]
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