Jump to content

Crawling Up the Wall of Worry 11/14/23

Rate this topic

Recommended Posts

The pattern of the hourly ES 24 hour S&P futures so far this week looks just like last Wednesday and Thursday. Which is meaningless. The trend is mildly up. Hourly oscillators are on the sell side, but well above the zero line and creeping higher. In the old days we might call this accumulation. By whom, that's the question. 

There's still a 5 day cycle projection of 4440. I'd have to say that the odds are still tilted in that direction. Beyond that, well looky here


Meanwhile, the 10 year Treasury yield is trying to pull back to test the uptrend line. If they don't get it there within a few days, start the countdown to the next blastoff. Meanwhile, Wall Street Primary Dealer shills are out this morning spreading the bullshit so that they can distribute their unwanted Treasury inventory that they are choking on. Rate cut predictions left and right. Not just one rate cut but as many as four. Also pronouncements that inflation is dead. https://www.bloomberg.com/news/articles/2023-11-13/ubs-strategists-see-far-deeper-fed-rate-cuts-than-market-pricing 

But I doubt it. Fuggedaboutit! Treasury Supply Ain’t Going Away


Gold? Working on a Gold Trader update for subscribers to be posted later this morning. This looks like a good place for a reversal. 



For moron the markets, see:

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.


Link to comment
Share on other sites

  • Replies 18
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Oh my gawd. Finally getting head back above water after 5 months of treading. 

I'm not gloating, understand. It has been a nightmare. Many times I wondered if I should quit the picking swing trades business, and just stick to picking my nose. I didn't know if it was the me or the method. 

Swing Trade Screen Picks – Loading Up on Buys November 13, 2023 

Link to comment
Share on other sites

Wow, 10 year sure popped.  Made a couple of pennies getting out yesterday, must show patience before getting back in TTT.  Thank you Doc for the note on settlements yesterday, that in combination with Powells taking about rates sounded like they would buy it down shortly, which they apparently have.  

Link to comment
Share on other sites

This is the performance of my watchlist today, from stocks I picked last week from the swing trade stock screens. 



Not gonna lie. I was day trading most of these and got shook out last Wednesday or Thursday, but I did buy 5 of them back on Monday's open and decided to let 'em ride.

As of Monday's open, I had 18 charts on the swing trade pick list. 12 were from this list and there were 6 others that predated it.  

Buy and hold is the only way to go. Stocks for the long hole. I am now a devotee of Graham and Dodd, Buffet and Munger, Rowan and Martin. 

But seriously folks, base breakouts galore in this group. 

Link to comment
Share on other sites

Not sure how many times the "FED is done" rally can be priced into the market... but whatever... I guess this time "we really mean it!!!"

Still believe the downside risk is much greater than the upside.  Will take advantage of the pop to add to my shorts when the "FED FEVER" cools off... will be watching AAPL as my guide, it looks/acts done...

Link to comment
Share on other sites

This topic is now closed to further replies.
  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...