I won't be very aggressive on the bear side now. I don't see bottom pattern yet, but 3 MDD and NYMO oversold are things we should respect a lot.
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Also, at what level in SPX would it not be a distribution day, as it looks like it will most certainly be no worse than an 85 / 15 day ie (86 % declining)
I think it's safe for anyone bought UPRO to set stop loss at $48.54 now. That minor pullback was 61.8%. Now we are heading toward spx 1172 before the next pull back. A=C
HappyFriday wrote:Master Cobra,
Please light up the firework
In which direction you want me to light? By default I'd like it to point downhill.
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Must have missed the post about contributing to the site via paypal or credit card. Is there a link on site as to how to do this? Many thanks, in advance, and happy turkey day to all.
Also, at what level in SPX would it not be a distribution day, as it looks like it will most certainly be no worse than an 85 / 15 day ie (86 % declining)
Thanks,
=D
I don't know, very strong rebound to close might bring down the NYSE down volume therefore eliminate the MDD, just hard to now how strong the rebound could do the trick.
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Cilvr wrote:Must have missed the post about contributing to the site via paypal or credit card. Is there a link on site as to how to do this? Many thanks, in advance, and happy turkey day to all.
no hurry and read the page carefully, it's a little trader's trick I play with all the friends here. I'll post the link on the front page after we moved to the new server.
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I won't be very aggressive on the bear side now. I don't see bottom pattern yet, but 3 MDD and NYMO oversold are things we should respect a lot.
what is MDD, Cobra?
thanks
Major Distribution Day.
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well, here comes the turkey. Nobody wants to hold short over the holiday, I guess.
Attachments
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I am going to put some stops on my positions but with the consistently negative news flow out of Europe and the US I have more confidence in the bear case than the bulls. Even if we get a rally at this point it may just be short and sweet.
I am going to put some stops on my positions but with the consistently negative news flow out of Europe and the US I have more confidence in the bear case than the bulls. Even if we get a rally at this point it may just be short and sweet.