coolbizone, couple hours ago
"SPX only had 3 Waves down. As long as 3301.87 is not breached and 3324 is exceeded, its still going to another new ATH near 3350-3370. At 3314 now.
Price action always RULES......Adapt and Adjust for Trades.
LT investments are a separate ball game."
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Family member is a PhD computational biologist who writes software tools for genome assembly. That crowd is really excited about working on a new plague.
Coolbiz got the volatility this week correct but he went with the wrong reason. He closed his longs expecting impeachment trial to cause it.Remembering both Nixon and Clinton (vaguely when the dementia lifts ) I get where he was coming from. But the dreaded words "it's different this time". TV viewership is pretty much non-existent where in the past it was right up there with a Bob Hope Christmas special. But nobody saw Coronovirus coming and it is pretty frightening so far.
Double bottom text book target. This bull shall have legs at least.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Al_Dente wrote:HEDGING, CONTINUED:
So.... SPXS (3x short SPX) is roughly $12 per share
pretty cheap protection
SDS (2x short SPX) is roughly $23 per share
plus, both have nice volume especially on down days
Compounding Daily Reset ETFs = Widowmakers over time