11/22/22 Reposting of 11/23/21 Post – Thanksgiving Week Performance

November 22, 2022-6:39 pm traderscott The Entry Points Market Blog 0

The following is a repost of my 11/23/21 post regarding a trading strategy based around the Thanksgiving week seasonal strength of indexes in this current time frame. I explained everything about it below. To capture this seasonal strength I am long TNA along with a few stocks like M. Those charts are directly below. At least partial profits should be taken on Friday or Monday. The previous post begins below the line. Click on charts to enlarge.

 

 

Update 12 7 21 – The original “setup” for T-Week did not work. But overall I am bullish, (it will be volatile), and did ONE average down. I never do more than one average down. This morning I took full profits, see chart. –

 

Since 1950  the last five trading days of November are traditionally positive. That is 70% probability the market is up on the day before Thanksgiving and a 67% likelihood the day after Thanksgiving, and a 71% likelihood that it’s up on Monday after Turkey Day. I am long SCHA (IWM ETF). The Russell is bullish:

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About traderscott 1146 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

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