The last time The PPT registered such a low reading was on 6/24/13, when the SPY was at $157. Ever since then, the market ripped higher and never looked back. With over 75% of stocks lower for the day, very few of you are fortunate enough to be making money today. Naturally, Bill Ackman is down again in his HLF short, but that’s because he’s cursed and doomed for a decade of failure.
Everything I own is down and it chagrins me to give back what I earned. However, there is nothing worse than compounding one’s mistakes by selling at the bottom of the range.
We can trade lower and the market is designed to fool the idiot into surrendering his money. But the odds are in favor of the guy eating a hamburger, sloppily moping around the office, buying this dip.
I will not be putting money to work today. I don’t like catching knives and already caught a few with IMMR yesterday. I will be elated to see the market trade higher tomorrow and will buy more then, into strength.
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ok..here is the part that confounds me..IMMR lower today – you seem almost assured of an upswing – so why not buy at lower levels??
Because I could be wrong. We’re all fallible, aren’t we not?
I bought yesterday and would rather reserve the cash I have to buy an extreme dip. Remember, I already have a large position.
indeud……extreme dip ?? say 13.00??
Flip a coin and hold TSLA into earnings? All my momo stocks falling apart big time.
I would not hold tsla into earnings.
Fly, you holding CXO into earnings this afternoon? Thoughts appreciated.
Yes. Love Cxo
How did you know I was eating a hamburger today?
On your homepage you should allow people to click on “Technical Analysis with chessNwine” and it should go to Chess’s feed blog posts..
Shut up
I’m laughing watching a lot of idiots sell today. Let new money be quickly separated.
The one buy I made was a starter position in SD. I’m watching this closely. It may have a bit more room to drop further, but someone in the hedge fund world is dropping it hard to get it close to 5.
PPT score #winning
$COOL seems to have caught a
slight breeze