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Testing resistance, a breakout is a little more likely. Roller coaster show at 2 pm, I'll just watch today. So far looks like a range day, until the show of course. Just nowadays almost no surprise from Fed so not much show to see.
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Maybe, just maybe it's double top, at least now we know it's just a range day.
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Must be a good news. Now this bull shall have legs.
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Billionaire genius Ray Dalio:
Head of Bridgewater, the largest hedge fund, down 18.6% YTD, as of the end of August. This is the fund's worst losses in a decade.
Problems:
Sees $3.5 Billion In Redemptions during the first 7 months of the year.
Internal computer models misread the market (also known as the New York Fed model).
Dalio losing an arbitration fight with ex-staffers.
Ongoing feuds with his co-cheif executive and has laid off "dozens" of employees.
[And possibly he has a Hubris problem].
Dalio took to TV on Tuesday and defended his fund: "...We have never had a significant downturn, all positive years, but we knew that there would come a day. We missed the pandemic going down and that is the reality."
What changes has Dalio made to adjust? Apparently none. “We are operating in the same way we have always operated,” he told Bloomberg TV.
The firm's key issue, according to insiders, was that it adopted a risk off strategy in March while the market was tanking, and then failed to put risk back on despite the Federal Reserve guaranteeing it would backstop the market with unlimited QE.
[zh via Bloomberg]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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IWM and RSP are strong today so bulls should be OK.
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$TSLA didn't reach the weekly EMA20 as I hoped but the pullback did get bought which reflects perfectly you human's trading behavior. Now let's see whether bears can make a double top here which also is you human's typical trading behavior... viewtopic.php?f=2&t=4186&p=287221#p287221
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$GLD, still could be a descending triangle in the making which is a continuation pattern so in theory should breakout on the upside but personally the descending triangle is always bear biased to me viewtopic.php?f=2&t=4175&p=287224#p287224
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