I hope I’m not wasting my time here and not just talking to a bunch of yogurt eating muscle heads.
This morning we got another Stocklabs mean reversion EXTREME oversold signal, which prompted me in an account I dedicate only to the SL algos to buy a 2nd tranche of TQQQ. There were tells early on, such as SAAS stocks +30bps while markets were at lows.
SAAS closed +3.7% and everything swam higher.
One of the things that made me very bullish was an esoteric reading that was once discussed heavily by a former members of ours, Jungle. The % of large caps rated bullish was at 2.8%. In the past anything less than 10% was reason to raise an eyebrow. Anything less than 5% meant blood was flowing in the streets and time to buy.
SL flashed 10 yr OS on both Friday and today.
Needless to say, the NASDAQ face ripped higher and I am 95% sure this face ripping rally will spill into tomorrow’s tape.
Since I’ll be traveling tomorrow — blogging will be light — but that shouldn’t stop you from trading and trading well.
Be long.
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you ARE talking to yogurt eating muscle heads, but not wasting your time.
We still have a financial reset to go through …and NATOtards may blow up the planet. But I am allowing myself just a little optimism today based on what may prove to be a historic
win for liberty. Thanks Elon.
Jesus, looks like it just might BE the end of the world. Yesterday Richard Weiner wrote an articulate comment and today I find myself agreeing with every word Purdy says..
since the start of the “war”, well not our war since only congress can declare war and they have not done so
Guess which currency is the top performer of the following: the dollar, the euro, the ruble, the yen, or the Swiss franc?
And the answer: you guessed it – Barny Ruble
Damn they are determined to keep gold down. Blatant again today, a giant collusion from the recent meetings is my guess. Oil price is also public enemy #1 and chasing speculative demand back into supply has to be on the agenda.
They are providing an opportunity to buy below market. Thank them.