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Market Goes Back to Sleep 5/17/24

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Pop and drop and stop. That's the way it goes. Now the question is whether we get a 3 day cycle low. With the hourly oscillators around neutral an upturn from this level would probably be a blastoff. However, by the same token, if they fold here, we could finally see a decent correction as a 4 or 5 day wave plays out into a hard down phase. Not much to go on yet, so we wait. Why Sell in May and Go Away

In my personal daily swing trade stock screens today, I got 68 preliminary bullish trend structures and 32 bearish. That's a little less bullish than yesterday's readings. Today only 2 of the 68 buys triggered. 7 of the sells triggered. The numbers are too small to be meaningful, and I didn't see anything compelling. However, there was an interesting thread on the sell side- oil and gas. Hmmmm.  Swing Trade Screen Picks – No Way!


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Since 2008 when it was founded SPXL the Direxion 3 times daily leveraged S&P 500 index ETF has returned 25% per annum.

When I think of the Medallion fund the "primus inter pares" and how it has made its great returns....... 

I think that most of it is probably due to......

"the same strategy as SPXL but with twice as much daily leverage".

But it required a crazy bull market and free NIRP/ZIRP debt to do it!!!!!!

This is of course is just a guess.


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What are the best sectors for next 6-12 months?

- utilities/energy becasue we miss energy due to AI, even blackrock says that


- Metals due to war and EV revolution, so copper like FCX? just made a new high.

- uranium due to atom?  GLOBAL X URANIUM ETF?

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