- Rank: 16
- Followers: 80
- Votes: 788
- Years Member: 11
- Last Update: 23 September 2020, 13:18
General Market Commentary
Question is: has the market topped again? Multiple things and situations have now entered the market of which the results and conclusions are still at hand. On Feb 21 2020 my $INDU charts showed the exact day of the last market top. From that day on, I lost over 35 followers... Now on Sept 3 this month the $INDU chart showed trend lines pointing to another possible market top. The hot and heavy $NDX and $COMPQ which carried the market up, are now leading the market down. So from here guidance for protection of capital is to be recognized with caution.
Isn"t it funny how commercial ads are still saying to buy gold and silver at a yearly high? I don"t think so my friend... I have posted a new chart of USLVF. It is not saying buy but is saying run for the hills. The rally in USLVF since March has produced a 900% advancement,, but today is screaming to sell and down 40% today. I sold my JDST too quick, but did get 16.9% profit (3 to 4 day trade). If all my trades were that good, I would be thrilled. So you see at times it is easy to trade the markets and also at times difficult. Always remember Patience and Diligence, trading along with trend lines and channels using support and resistance... and of course using stops. I have learned this things only from the old School of Hard Knocks.
Have a wonderful and safe week! If you like this list, don"t forget to show your appreciation...Thanks
Wealth is good, health is better, and God is Great.
This chart set up is working pretty well for short term trading. Using a 3% stop loss prevents a sudden large loss. Never hold a losing trade / always remember diligence and patience. Do move up the stops if price accelerates. This will offset whipsaws with very small losses and help maximize the profits. Happy trading!
Sept 1 thru Sept 4 ( 9.83% profit) Will add profits to principal for next
Sept 17 thru Sept 21 (16.9% profit) on this trade...
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