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What to Do When Your Swing Trade Picks Crush the Market 12/20/21

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  Stay short?

9 hours ago, Jimi said:

overnight is sloppy

What a coincidence. So was mine. 

But my chart picks did great. 

 

9 hours ago, Jimbo said:

What did Santa give to short sellers this year?

He gave them a bag full of Spacs.

He also has given them some more Chinese fraudstocks.

But he gives them some of those every year.

He also threw in HOOD for free.

 

Yes, it was a good night to be short. And a good week.

My chart picks crushed the market last week.  Ended the week with 8 open picks with an average gain of 5.8% on an average holding period of 22 calendar days, i.e. 3 weeks and a day. That's the second best weekly performance of the last month and one of the best since I began this exercise a couple of years ago. This is cash basis, no leverage. 

By contrast the S&P 500 was lost 1.7% over the past 22 days and nearly 2% last week.  Maybe we should follow the old adage, quit while you're a head, because you never know what might be a foot. 

Up you patooty. Especially when it comes to the TA and the market. Sometimes the TA beats the market, and sometimes the market kicks your ass. 

As for the hourly business that we watch here day to day at the Stool for your listening and dinging pleasure, I was gonna say dining, but had a typo, so I'll run with that. Here for your dinging pleasure is the hourly chart as of 6:20 AM in New Yak, as traders arrive sleepy eyed at the screens. We're looking at a 5 day cycle projection of 4525-4500, but an attempted buy signal on the hourly oscillators.

tvc_89f54061acb40fab99d090494b9870e8.png

I don't know that that means. I never know, but I can always guess, which I do, just like everybody else. The difference is that they pretend to know. They don't fucking know, any more than you or I do. As the Stool's slogan of 21 years reminds us: We don't know and neither do they. 

Amen, and have a good day, brothers and sisters in Stool. I will check in from time to time, but first, must finish the Chart Picks update for this week. 

And remember.

Omicron's gonna get you. 

Omicron's gonna get you. 

Omicron's gonna get you. 

Tonight! 

Alright. 

Omicron's gonna get you. 

Omicron's gonna get you. 

Omicron's gonna get you. 

Tonight! 

Alright. 

Bye for now. 

Meanwhile for the big picture. 

Is It Time to Quit if Your Chart Picks Crushed the Market Last Week?

How to Tell When This Inconclusive Market Turns Dangerous

Get Ready for a Slow Moving, but Perfect Storm

Swing Trade Screens – More Buys Than Sells Again This Week (But I ignored them and stayed 90% short). Update to follow shortly. 

Prepare for Market Doom, the Moment of Truth Is Here 

Gold Hangs By a Thread on the Eve of Destruction

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

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