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I agree 100% with Tom. The old stand by during fed hikes day was an announcement at 2:15 and a sell off that started at 2:18 and a up day the next day. It will be very bullish if we get a small to medium pull back today to gain a base. Nothing goes straight up like this without a sharp pull back later.
I know I have been wrong two days in a row (very badly) and of thosewho stuck it out...great going...I am very happy for you. Today I am going to put my reserve to work in the hopes of a pull back. Because other then the normal stufflike CPI, jobless claims there is no economic data (that the market is overlooking now anyway) that should slow the sleigh down.The big worry to me is aterrorist threat...since just about everyone I know is 100% invested right now in the market and fully exposed to major damage (we can not invest like that but something to think about)...enough said I believe on that point.
Will be 40% C, 50% S and 10% I.
As you can see by the below chart we are coming up to a big resistant point called a double top. Would want a pull back to build a base. If we go straight through then that even gives more firepower for the third week of Jan 05 sell off. As you can see by the candlestick blue + that started today - that indicates a pull back. That would be perfect and most welcome by the tech folks.
Once again I was wrong the last two days. Risk/reward was not there for me. Remember next year this is the silly season...no matter what the economic data is the money continues to flood into the market.
I agree 100% with Tom. The old stand by during fed hikes day was an announcement at 2:15 and a sell off that started at 2:18 and a up day the next day. It will be very bullish if we get a small to medium pull back today to gain a base. Nothing goes straight up like this without a sharp pull back later.
I know I have been wrong two days in a row (very badly) and of thosewho stuck it out...great going...I am very happy for you. Today I am going to put my reserve to work in the hopes of a pull back. Because other then the normal stufflike CPI, jobless claims there is no economic data (that the market is overlooking now anyway) that should slow the sleigh down.The big worry to me is aterrorist threat...since just about everyone I know is 100% invested right now in the market and fully exposed to major damage (we can not invest like that but something to think about)...enough said I believe on that point.
Will be 40% C, 50% S and 10% I.
As you can see by the below chart we are coming up to a big resistant point called a double top. Would want a pull back to build a base. If we go straight through then that even gives more firepower for the third week of Jan 05 sell off. As you can see by the candlestick blue + that started today - that indicates a pull back. That would be perfect and most welcome by the tech folks.
Once again I was wrong the last two days. Risk/reward was not there for me. Remember next year this is the silly season...no matter what the economic data is the money continues to flood into the market.
