Well, TA like this helps us keep our emotions in check while still enabling us to make a profit. Dow daily:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li14,3!lh14,3!lp14,3,3!ll14!lb5][j6733350,y]&listNum=1
Note the channel breakout. If that holds, long with a moving stop is a decent play. Likewise, the rising channel is a good gauge for selling and buying.
Since this is a mania, and by definition manias are irrational, doing something rational like selling when everyone says buy may be correct over the long run, but it can cause lots of pain in the short run.
I believe a cautious irrational approach is the best way to play this market right now.
Irrational - meaning this is a market at insane levels, but hell, I'll buy it anyway.
Cautious - meaning set a stop to keep you from losing on that buy, and moving up the stop as profits accumulate to lock in those gains.
Anyway, good to have a new poster here! Welcome! |
