The topics covered were trading with a purpose, selling into strength, secondary rallies, upthrusts – my post about the secular bottom in gold from December 2015 (not 2016 like I misspoke in the video), how hard it is to sit thru the bottoms if we are investing – this stock market is not a bubble, please already, an overextended market does not mean a bubble.
Also my daytrade in MOSY and my buy in DRYS – those fills. And the major bottoming process in the shippers. Here is the older video post referencing the bottoming in the shippers, and shown below is my comments from November 8 about being cautious and allowing for a big selloff first.
“Context is 100% a part of what I do with charts. When I bought gold as an investment in December 2015, I was using monthly and 1 minute charts. When I bought MYO as a daytrade, talked about in premarket yesterday and in this video, I was using 1 minute and daily charts. With my recent short-term trading in the shippers, TOPS and DRYS and DCIX, I was using daily, 60 and 1. I don’t know any other way to do this business – context. It’s why I don’t understand why daytraders ignore investing fundamentals, and investors ignore daytrading fundamentals – context. All of the trends, accumulations, etc. work in conjunction with each other. With the shippers, in the afternoon RLOG was the one to me which still had a momentum up structure to it. But the problem for me as I told my partner yesterday afternoon was the big break in DCIX and DRYS just sitting – the probability structure and some EA adding up on 60 minute charts. I’m stepping back, let’s see about reactions. And keeping it all in context of a bigger bottom, and how the stocks close relative to their resistance areas on daily charts.”
Also talked about ONCS, NVFY, GDX, SPY.
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