"Each time it bumps it, it pushes it up higher. Even if we see a little red; it facilitates a run when it takes off. We are fully imbedded"
Most investors love stocks right now, and the Fed continues to pump money to their primary dealers. My system remains on a hold long positions as the trend up continues, and I'm a Trend Trader..... I use the 3 ema and the 13 ema for trend trading and around ten indicators for risk management. Right now the risk/reward is high.
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore The move up continues....
https://twitter.com/NorthmanTrader
Trend Traders:
We can never presuppose that we are so smart we can tell, unerringly, what the markets will do next.
Trend timers do not try to anticipate reversals or breakouts. They respond to them.
Trend timers are not prognosticators. We just identify and follow trends.
Trend timers believe the markets are smarter than any of us. We make it our business not to try to figure out why the markets are going up or down, or even where they are going to stop.
Successful trend timers identify trends, trade those trends, and patiently allow them to play out while their profits grow.
Predicting the markets is a fool's game. It is fun to do over cups of morning coffee, but if you want to beat the financial markets, you must identify and trade trends.
You must also stay with your trend trading strategy through thick and thin. If no one can consistently predict where the markets are going, they also do NOT know when the next trend will begin. Taking all trades guarantees that you will never miss it when it start.
https://www.fibtimer.com/subscribers_historical_reports/200920_fibtimer_commentary.asp