The Long Timeframe is Back

Over the past two days I have had the pleasure to observe, in real time, incredible auction activity. And for the most part I got it right.

After pressing deep into the edge of intermediate term value, the long term timeframe entered the market and asserted itself, thrusting the marketplace back into the middle of balance.  Their actions were not discreet.  First was the reactive buying tail printed into the close yesterday.  Then today the market could not fill the overnight gap, and after an hour of trade the long timeframe demonstrated initiating trades via range extension above the first hour of trade.

The NASDAQ started the day stronger then counterpart S&P.  Watching the S&P is what caused my second folly on the day.  I covered the shares in X I bought at the bottom of that big red candle.  My primary vision was for balanced, two way trade in the market and considered the early prices an opportunity to scratch the position.

We went to the edge of intermediate term balance yesterday afternoon and found buyers.  Said buyers were reactive initially then they became emboldened and initiated additional risk into the lower tail of balance.  The dynamic move erupted into a feeding frenzy of sorts.  Elon took to the helm of his rocket ship and made high decree that words as we know them are broken.  He made other audacious claims, like inventing the question mark.  As an investor, you have to love this guy.  He times these PR bombs technically perfect to trap and pummel shorts.  Pity I capitulated on most of my exposure Friday.

One cannot mull about their losses.  I opted instead to allow the rest of my very long book to press on and I went for a swim.  I returned to end the day up a tad over 2.5% on the day.  I have one of my algorithms back to full functionality, I have built B.F.S. volume profile charts, and I have momentum to build upon.

Favorite positions into Friday: MLNX, TSLA, LITB, and Z.

Still huge in: CREE, RVLT, BALT, and OWW (I know, a motley crew of sorts)