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DrStool

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DrStool last won the day on March 13

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    Rue E Manny LePhillyBear, Nice France

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    Chief of Stock Proctology

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  1. Now we settle in and wait for the circus to come to town.
  2. If the 10 year clears 4.35 it will head for 4.55-.60 pdq. If not, then it's a trade on the long side. Not for long, but potentially a play. Right now, this chart looks bullish. Which is bearish. Get it? šŸ˜ Markets Create Money, Money Talks, Markets Listen Etc.
  3. Read my list, no new highs. Swing Trade Screen Picks ā€“ Adding Stops to Take Profits
  4. Every time it looks as though the rally is running out of gas, somebody gives it a fill-up. It's as if Friday's selloff didn't happen. Meanwhile, did you notice that the Fed's RRP slush fund dropped by $100 billion to a new low of $418 billion over the last 3 days of last week. Don't worry, it won't run out of cash any time soon. This is money that came out to pay March 15 corporate income tax. Now the Treasury will use it to start paying down T-bills. It will flow back into money market funds, and there won't be any T-bill supply to absorb it for the next 2 months. So right back into the RRP slush fund it will go. More on that here, with an update to come this week. Markets Create Money, Money Talks, Markets Listen Etc. As for the hourly ES, 24 hour S&P futures, the downtrend has been obliterated and they've started a new 5 day cycle up phase. Watch for a pullback to 5150. If that holds, then we have a new uptrend channel to work with. If no pullback, then the current meltup will run right back to the high of 5190. The next 3-5 day cycle high is due Wednesday-Friday. Buckle up. A Top is In, But Which One Is It For moron the markets, see: Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024 Market Flies Blind in Thin Air March 11, 2024 Swing Trade Screen Picks ā€“ What to Do With Profitable Week Behind March 8, 2024 Gold Sets Up for Major Breakout March 6, 2024 The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024 Tax Collections Took Off in a Stunning Reversal in February March 3, 2024 We Donā€™t Need No Stinkinā€™ Fed ā€“ We Make Money from Nothing February 26, 2024 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 folder.
  5. A Top is In, But Which One Is It LEE ADLER 2 - TECHNICAL TRADER MARCH 17, 2024 This looks like a 6-month cycle down phase, but ideally it should be xxxx xxxx. With cycles in gear to the xxxxxxxx, it could be xxxxx, but it will end within xxxxx and should xxxxx just as xxxxx. Then weā€™ll see. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. It could be xxxxxx xxxxxxx, but building xxxxxx xxxxxx takes time. In the meantime, the longer term indicators arenā€™t xxxx xxxxxx xxxx xxxxxxx xxxxx. Non subscribers click here to access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days!
  6. Swing Trade Screen Picks ā€“ Adding Stops to Take Profits LEE ADLER 2 - TECHNICAL TRADER MARCH 17, 2024 List performance was surprisingly stable from the week before given that the previous week was already at a record level for this exercise. The average gain was 13.8% on an average holding period of 29 calendar days. That compares with an average gain of 13.1% on an average holding period of 21 calendar days in the previous week. This includes picks closed out over the course of the week and those still open. Non-subscribers click here for access. Technical Trader subscribers click here to download the complete report. This weekā€™s swing trade screens generated 23 charts which met all buy side criteria for visual review, and 31 which met all sell criteria for the week ended Friday. Non-subscribers click here for access. Iā€™ve developed an additional algo to take the place of visual review for weeding out chart patterns that are not attractive low risk entries here. The net result after that overlay left just 6 charts on the buy side and 13 on the sell side. Non-subscribers click here for access. These are very small numbers so I wonā€™t draw any broad market conclusions from that. However, the fact that the numbers are small confirms what we already sensed. This advance is elderly, and is therefore prone to loss of balance and falls. Non-subscribers click here for access. We came into the week with 13 open picks, including 10 longs and 3 shorts. Two picks were stopped out and I have no new additions this week. Weā€™ll thus go into the next week with 11 open picks, including 3 shorts and 8 longs. Non-subscribers click here for access. Performance was adversely affected this week by one stock that crashed after having been one of the best performers. This is part of the game, and a drawback of only doing this exercise once a week as opposed to daily. On the other hand, a weekly period has the advantage of avoiding overtrading. Thereā€™s no perfect time frame, but doing it weekly allows the trader time to live life rather than staying glued to a trading screen every day. Non-subscribers click here for access. The culprit in this case was xxx which surprised traders on a revenue ā€œmissā€ and a weak forecast. It had been uptrending beautifully. Then there were technical warning signs earlier in the week, but unless I go to a daily schedule, which is not on my horizon, then we have to roll with it when sheet happens. Thatā€™s the reason why I like to have enough picks to spread risk, so that if one goes really bad, itā€™s not a killer. And this wasnā€™t, given that the list still had a record average gain. Voila! The more the merrier. Non-subscribers click here for access. By the way, a stop would not have helped since the price opened on a huge gap down, well below any reasonable stop level I may have guessed at. Iā€™ve now indicated a stop just below major trend support. If the uptrend holds, Iā€™ll let this ride, week to week. If not, bye-bye. Non-subscribers click here for access. Iā€™ve also indicated stops on all but one of the other picks for the purpose of taking profits. Virtually all of these picks are ready to ā€œage out.ā€ Non-subscribers click here for access. I reviewed the charts produced by the screens after the application of the new test for suitable setups. I did not like the patterns on either the buy side or the sell side. Even after applying the new filter, there was still nothing that I would consider a low risk, high reward entry setup. Non-subscribers click here for access. On the sell side, most were in uptrends, and while they may have peaked, they will be bouncy on the way down as they hit trend support. Again, not ideal entries. Iā€™ll look for sell signals on the rebounds to lower highs for better shorts. Non-subscribers click here for access. Table of picks and performance in the subscriber report. Non-subscribers click here for access.
  7. One syllable only, thank you. De Nice France, bonne weekend et bonne chance!
  8. What a dud. Chow now brown cow how bow low mow pow row sow tow vow wow glow brow show grow slow blow snow stow flow Dow
  9. Double bottom at 5110, but I see no positive divergences on any oscillators from hourly down to quarter hour bars. Usually means a lower low to go.
  10. Gold Due for Pause that Refreshes LEE ADLER 3 - GOLD TRADER MARCH 15, 2024 The 9-12 month cycle projection now points to xxxx, but a consolidation is due in the short run as the 13-week cycle appears to have topped out for now. The conventional measured move target of the high base breakout xxx xxxx xxxx. For the advance to continue, gold must xxxxxxx xxxxxxxx xxxxxx. Non-subscribers click here for access. Subscribers, click here to download the report. Currently swinging mining picks with average gain of 17% on average 37 day hold. Subject to change. Subscribers, see table in report. Non-subscribers click here for access. Try Lee Adlerā€™s Gold Trader risk free for 90 days!
  11. Did I say 5115? Didn't mean it really. šŸ¤£šŸ¤£šŸ¤£
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