Let me know when the “failed breakout” narrative starts traveling around twitter today in regards to the indices. There’s something brewing here that seems to me like another baited trap for the remainder of the week.
First, it comes down to set-ups. There are none. The last time this happened was immediately following the Brexit flush. What does that mean? If the market makes a move to get you out of a position, or bet against the market, we’re in a spot where you won’t be able to get back in.
I find myself fortunate to have literally bought all the stocks on my watchlist yesterday that I wanted. That’s very uncharacteristic of me…but now I’m seeing how this will unfold as I notice that in scanning for setups today, I returned the second lowest total of the year.
Best case scenario, let this thing fade. The Russell has the relative strength/divergence here. As long as these divergences stay positive, and the “false breakout” narrative gets loud, you’ve got some fuel to throw on the fire.
Eyeballing $CSIQ, $UAL, $AA, $CENX, $RIO.
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$TSLA weekly calls working here. Hope this announcement starts a move that lasts all week.
Thanks for answering my questions on the prior posts; the answers all make sense. And your point about solely relying on the chart seems to be expanded upon on this post. The way you’re pumping out posts, you must be at optimum dose Adderall (i.e., feeling like the guy in Limitless lol). I know that feeling all too well.
Somebody here needs to reinforce that the risk of not participating here is opportunity. I’m literally throwing darts blindfolded and finding winship.
Well said.
Again, apologies in advance for all the questions, but what do you mean by the risk of not participating here is opportunity? I’m trying to dive into understanding market sentiment in general, and your insight helps me a ton. Thanks again.
Opportunity risk. Missing opportunity in exchange for not participating. Investors usually pass on the easiest conditions because the fear cycle is still holding. They don’t come back until “coast is clear.”
What, do you got me on a fuckin’ pay-no-mind list, OA?
kidstockibc August 23, 2016 at 9:38 am
I cannot emphasize the challenge of re-entering position. Let your winners run boys.
No Dips for You!
True. You were the only one that agreed with me on that. Credit due.
I was referencing the overall tone at iBC.
I just scanned the comments of the last couple of posts. Between the early returns on the poll last night and these comments, I wonder if we are due to come back in. The alternative is that the only ones still left are getting good at this?
$SBNY bid/ask on calls is too wide for my liking. Am I being too picky there?
Minimal growth in terms of users/traffic/etc. I pay close attention to that.
Long $OAK, I didn’t want to mess with $SBNY.
Yeah in my experience with this site there will be a lot of new names and faces here before this shit gets too frothy.
Anyway, I could totally see this playing out how you say OA. I’m always monitoring my government retirement fund websites and most of the leaders there have been out since Brexit. If they buy the next pullback that will set us up for another leg higher.
Hate this waiting on Yellen at the Hole shit
Looks like a big W bottom forming on PLUG. Should I be scared
I think you missed the point on this one.
I remember you saying when this name moves you’d be thinking market had peaked…no?
Moves, not fluctuates. The day that stock is up 20%, let’s chat.
Got it! Thanks
Crude goes higher until the shorts stop tweeting long enough to cover their positions.
Blatantly pumping my book, but $NMBL reports tonight. It’s a crazy move to chase the last 10 days, but a move of equal measure to last report puts it right at the edge of the massive pocket. When I rebought this one it was only looking for a move to $10, but when you pull up that daily chart it’s tough to ignore what lies above.
FIT is just one of those stocks I can’t buy because I find the product idiotic. Do I really need to know how many steps I take each week? Guess it makes lazy people feel more active.
I agree, but people still buy them, don’t they? Some insurance companies give these out and track your steps – if you get so many a day you get lower insurance premiums. And just because a stock or item is stupid, doesn’t mean you can’t trade it, but I wouldn’t put it in a long term account because that would just drive you crazy knowing it was there being stupid with all your other respectable stocks
I much prefer stocks that go up. What they do to make the money matters only if it matters to you.