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Consolidating the Gains 9/29/20

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Let's start with the nifty 2 hour bar chart. 

They broke the downtrend, then pulled back inside it. But unless they drop below 3320, this will look like a consolidation, rather than reversal. 



On the other hand, Liquidity Trader subscribers know that the next 2-3 days, especially Wednesday will be very hostile to the bulls, so we'll see. I'll check back before NY opens to see if the pullback holds up. 

Meanwhile, here's the 1 hour bar chart. The 5 day cycle projection of 3385-3400 is unmet, but there's a ton of resistance between 3365 and 3395. If the pullback holds above 3325, it's probably still bullish. If it drops to 3320, it's a bit iffier, but still bullish. If it gets materially below that, then I'd say we've had a false trend breakout and the trend is still down. 



In my personal trading account, I closed out yesterday with about a 60/40 long/short balance. So I'm well set up to cancel out any gains on either side and end up with nothing 😂, as usual since I've temporarily dropped my role of being an unbiased, impartial, non-combattant observer. 😁😁😁

Hoping that assuming a combat role does not impact my impartiality. I've approached each day trying for both longs and shorts, but have had a hard time finding good short setups, then getting killed when I do, as they immediately blow up.  😄😄  My observation would be that some of the strongest stocks yesterday were those that had the weakest trends on the daily charts. 

But it has been fun. 😉 

See you again before NY opens. Heading out for my morning power stroll through the parks, hills, historic districts, residential neighborhoods, and commercial pedestrian areas in and around central Zagreb. I'll be here for a few more days, then back to seaside Zadar for a couple weeks. Then I'll come back to the US for a few weeks to TCB, and then get the hell out again before the civil war starts. 

Ciao for now, or chow, as the case may be. 


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One stock that came up on my trading screen output was CLX. So I pulled up the chart and ran the entire history. Back in 1980, the stock traded for between $1.03 and $1.10 per share. 

Buy stonks. They always went up. 


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My most hated group for a long time has been the REITs. But there have been a couple that invest in specialized properties that make some sense and have decent charts. I'm always a bit surprised when I see a bullish looking chart in the sector.  Like this one. This is not a recommendation. 


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Nothing different at this point. Now it's a matter of whether they come out above 3380 or below 3333. Either way should get a little move

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