DrStool Posted May 17 Report Share Posted May 17 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! For moron the markets, see: Why Sell in May and Go Away May 14, 2024 Swing Trade Screen Picks – No Way! May 13, 2024 Higher But Narrow May 13, 2024 Icing on the Gold Cake May 10, 2024 April Tax Collections Soared May 4, 2024 Gold Valley Rally May 3, 2024 The Fed Doesn’t Matter Any More May 1, 2024 Swing Trade Screen Picks – Hidden Gems April 29, 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...
Takachi-1 Posted May 17 Report Share Posted May 17 you gonna just leave us hanging on the sell side oil & gas? Link to comment Share on other sites More sharing options...
DrStool Posted May 17 Author Report Share Posted May 17 Not much to say. Just a few sells and most were in oil and gas. Short term and maybe nothing. Link to comment Share on other sites More sharing options...
DrStool Posted May 17 Author Report Share Posted May 17 Nothing I'm taking. Link to comment Share on other sites More sharing options...
Jimbo Posted May 17 Report Share Posted May 17 LEVERAGE FOR NOTHING AND STOCKS ON A SPREE 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. Link to comment Share on other sites More sharing options...
SiP Posted May 17 Report Share Posted May 17 silver +5% a lot of short squize in copper also in short, war and climate tech is good for metals Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 17 Report Share Posted May 17 Try and get that 10%.............Oh yeah, the rest of a fraud market.......... Link to comment Share on other sites More sharing options...
SiP Posted May 18 Report Share Posted May 18 What are the best sectors for next 6-12 months? - utilities/energy becasue we miss energy due to AI, even blackrock says that https://money.usnews.com/investing/news/articles/2024-05-17/blackrock-ceo-sees-giant-issue-for-europe-due-to-ai-power-needs - Metals due to war and EV revolution, so copper like FCX? just made a new high. - uranium due to atom? GLOBAL X URANIUM ETF? Link to comment Share on other sites More sharing options...
SiP Posted May 19 Report Share Posted May 19 interesting take on gold. I must say I'm confused by the difference between real yield and gold and the following link could explain that Link to comment Share on other sites More sharing options...
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