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Market BTFOs 9/16/20

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Yep, looks like it's breaking the fornicate out. 

tvc_22cfac9b97836305a5b695b2f24d47ba.png

 

But it faces a lot of overhead from 3419-23. Hourly indicators uptick from high levels, normally a bullish sign that usually leads to trending mode of indefinite duration.  

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Sometimes when the candlesticks do that on your chart, I convince myself that The Them is a Stoolie, and they’re just screwing around bored like the rest of us. 

Hmmm... Should be interesting tomorrow. Usually Fed day is a head fake.  More MBS cash Tamara. But not that much. 

The breakout extended for a bit but now coming back to earth. Not only that, they're back to the breakout level. Do or die for the members of the bovine club. Indicators on the 30 minute bars have stalled, and rate of change - the topmost lower indicator has begun to edge lower and is on a sell signal. If they drop more than a hair below 3420, then the party is likely over and a 5 day cycle projection still around 3440-45 won't matter. 

But if the pullback holds here, then up we go again. 

tvc_c9df414bb6d5e290c1f3255ce03d43f1.png

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  • DrStool changed the title to Market BTFOs 9/16/20
3 minutes ago, DrStool said:

Except for the downdraft shakeout on Sept 11, the trend has been consistent. 

since the low at 3 PM on September 10. 

I have no idea what that implies. 

Just thought it interesting. 

😄

 

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Itty bitty head and shoulders here. Neckline 3407.  But not much downside. First support 3402-3. Break that and there's a little room for a move. 

A lot more clearance on the upside if this holds.  Pre market pivot 3417, then next R 3424. 

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It seems pointless to be bearish. I keep looking for reasons. It's tough. 

My chart pick list for Liquidity Trader has 9 longs and 3 shorts.  One of the shorts has been on the list for 86 days and is an oil driller. Has a gain of 32% based on 100% cash.  One was put on last week and got stopped out already. -3.2%

The other was put on Monday and is ahead 2.8%. The other 9 picks are longs. All positive, with gains of 0.1% to 17.7%.  

Overall, including the stopout, the list is +7% with an average holding period of 18 calendar days. Wouldn't it be great if that could be compounded regularly! Pretty soon you'd be talking real money.  Can't do that though. Past performance, yadda fucking yadda. 

Anyway, you can track this to see how it does, risk free for 90 days. 

 

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I don't short individual stocks just ETF's and I don't know what the rules are for shorting IPO's nor do I know what it says about the market in general but I can say with certainty that I am in the 'Cloud' business and this SNOW price is a freaking joke.

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