Good news fuckers, the S&P 500 is ‘overbought.’ Based upon the laws of mathematics dictated by Exodus, that means we’re heading, the fuck, higher.
View the math.
Time to get back to trading cryptos. I now trade 23 hours per day and leave 1 hour for sleep and light reading. I am presently reading A Farewell to Arms — a fine story about a loafer getting blown to smithereens in WW1.
None of my positions did particularly well today, a rather glum and moribund existence for me in equities, which is why I am intent on making it all up in shitcoins.
I am very b00lish on STORJ.
Ciao.
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Add in a weekly hanging man bullish candle pattern on $SPY, RSI at 90 and being above the upper bollingers and you have a recipe for months of tit ripping higher. Lever up bitches, its just in the first inning!
UVXY to 8. SPY to the celestials.
For all you illiterates, ‘overbought’ means not enough was bought yet so go buy more. Got it?
I always thought overbought meant sell. Fuck me !
The definition of a bull market is overbought.
o·ver·bought
/??v?r?bôt/
adjective
1.
overvalued owing to excessive buying at unjustifiably high prices.
“a healthy correction to an overbought market”
Solo- that correction might start Monday.
So why does Fly’s Exodus indicator mean the opposite of the definition of overbought? I’m new to trading for the most part.
NON Solo, Trading is quite a bit differnt from investing.
Let’s say that you have to get to a destination where you’re only choices are taking a subway (let’s say 10 stops away) or a bike (which you can also carry on the subway). People in good shape will simply bike. Others will go a couple stops and then get off and bike the rest of the way. A few will go 9 stops down, decide that since they haven’t had a broken track yet, the information must have been false and continue on.
Now the health of most Americans’ retirement funds is similar to the health of most Americans: they couldn’t bike to their destiantion if they wanted to, so they stay on the subway until they can see the broken track ahead, at which point it is too late to get off the train.
Similarly, in a market that is overbought, some see it as increasing risk, but many others look backwards and say that so far the Bears have been wrong, so if it hasn’t fallen yet (and it hasn’t in a looooonnnng time), then everything is fine and the market will never fall. So overbought markets often continue upwards as the Bulls get more confidant.
The best piece of trading advice anyone can give you:
1) Find/devise an objective trading strategy that doesn’t depend on your gut instincts
2) Test your strategy a few months trading on paper, carefully tracking you trades
Also, due to commissions and the necessity of limiting your position sizes, I’d recommend not even trying trading unless you have at least $5000 that you don’t need.
overbought is a buy and oversold is a buy in the market. if it worked all the time Fly would amass all the money in the world. so the rest is up to us.
It Is Showtime!
Get your SPXL and prepare for the worst
That fucking chart is unbelievable.
Despite my unloading today, and my buying of puts yesterday, I failed to mention my leveraging of SPY 290 calls and AAPL 200s. Barring an epic crash of bicycle riding children in the current game of chicken, everything we need for the bull run of the millennium is in place…did I mention tha assholez running our government?
sarcrilege has a Klan meeting tomorrow… he is proud NAZI
Don’t forget to double down on TZgAy.
Already on record for saying markets higher to sideways through earnings season. Rest assured that a real pullback, when it comes, will have some serious fury and damnation with it though (and that the dip will definitely be worth buying – hey, volatility!).
Agree, although I thought that the possibility of furious buying was elevated- before the shutdown. Chances are less now.
“All Quiet on the Western Front” is also great.