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THIS WILL BE in a future movie adaptation of an as yet unwritten book by Michael Lewis (thinking "The Big Short").
It is also my vote for the Pets.Com memorial tulip award. Be sure to read the last line of the article, it says it all! https://www.zerohedge.com/news/2018-01- ... g-machines
Small short when we dropped out of the jobs report box. Probably a mistake but hoping we retest yesterdays ending midpoint VWAP area around the closing print.
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Story of the day so far, is how IWM got stronger off early weakness while XLI/IYT got weaker after being atop the early RS leaderboard. Perhaps a rotation back to the smaller companies, which are seasonally strong on average in January?
Moad (FuturesTrader 71) keeps banging the drum that on days like this where you aren't making money (speaking just for myself of course) you need to do something to improve your trading skills so it is a positive day. Out here in the intermountain west we get a strong culture influence from Salt Lake City where the Covey Day Timer people would say "sharpen the saw".
Northman Trading posted recently that the RSI 30 level on a 15 minute chart is now the signal that declines have gone far enough. He said the time frame has been shrinking all year (used to be the 2 hour). Take a look for yourself it works like a charm. Problem is he didn't talk about a matching sell signal!
Trade with Cats said --- Northman Trading posted recently that the RSI 30 level on a 15 minute chart is now the signal that declines have gone far enough. He said the time frame has been shrinking all year (used to be the 2 hour). Take a look for yourself it works like a charm. Problem is he didn't talk about a matching sell signal![/quote]
Something like this TWC? Can see on Dec 29 where it got there and it was a bottom....