DrStool Posted May 3 Report Share Posted May 3 We all know that Wall Street is really a circus. So are we under the big top? Hard to say, but if it rolls over today, maybe. And if not, well, a breakout through 5096 would suggest higher prices ahead. The 5 day cycle projection says 5135-40. Trend spport at 7 AM ET projects around 5076 heading toward 5080 at the NY close. Bust that and maybe the clowns will sing The Party's Over. They Walked the Line For moron the markets, see: The Fed Doesn’t Matter Any More May 1, 2024 Swing Trade Screen Picks – Hidden Gems April 29, 2024 They Walked the Line April 29, 2024 Gold to Hibernate Till Winter April 24, 2024 Watch Closely as Warning Signs Abound April 23, 2024 Warning Signs Abound, But Ignore Them for Now April 16, 2024 March Withholding Tax Collections Actually Stunk April 5, 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. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 Too peel, or not to peel, that is the question. Feeling really good about my 14/1 long short ratio in the trading port this morning. Feeling good makes me nervous. Probably should sell everything. 😏 Although the thought that I should sell everything probably means that I shouldn't. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 5 day cycle projection 5135. Swing Trade Screen Picks – Hidden Gems Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 All gapped up on the open. Covered the one short. Of my longs, 4 were utilities and one was a bank. I've bought banks for a trade before, but never utilities. But the screens said buy, so I did, and voila. Payday. To sell or not to sell. That is the question. Whether 'tis nobler in the mind to suffer the slings and arrows of outrageous shakeouts, or to take arms against a sea of stop running. Aye, there's the rub, for in that sea of stops, what dreams may come must give us pause. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 SELL SELL LOOK AT DEM! DEY PANICKIN. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 MY GAWD MORTIMER! He's right! Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 Fuck utilities. They SUCK! 😂😂😂 Link to comment Share on other sites More sharing options...
SiP Posted May 3 Report Share Posted May 3 From PR perspective Fed is sending good spirit to bulls. They lower the QT and made a clear statement about no hikes in the future. Fed wants to increase credit/leverage by private sector. We could have a soft landing. Really. They are doing this nicely. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 Well, I don't know about the electricity stocks, and I might let go of my gas, but I'm definitely going to hold my Water. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 AWK! AWK! AWK! AWK! AWK! AWK! Link to comment Share on other sites More sharing options...
potatohead Posted May 3 Report Share Posted May 3 3 minutes ago, DrStool said: Well, I don't know about the electricity stocks, and I might let go of my gas, but I'm definitely going to hold my Water. Water gets drained, just not during market hours, usually at 2 am Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 I just added the chart. Link to comment Share on other sites More sharing options...
DrStool Posted May 3 Author Report Share Posted May 3 Well, I didn't sell. But I did add 4 shorts this afternoon. A bit hedged, so to speak. But if they gap down Monday, I'll take a hit. Bonne weekend! Link to comment Share on other sites More sharing options...
SiP Posted May 4 Report Share Posted May 4 Under 50 Link to comment Share on other sites More sharing options...
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