Hey Gush,
I agree that any shorting is playing with fire here; I too got greedy and jumped the gun a bit, but I'm in all cash now, even though the Qs look like they want to extend into Friday - no sell signals yet and the candle hints at continuation:
stockcharts.com[w,a]daclyyay[db][pd20,2!b4!f][vc60][iUk12!Ui14,3]&pref=G
But, I can't forget that open gap on NAZ at 2005, because it WILL get filled.
Also, recall Terry's comments about the volume energy and how that will feed a sharp decline when this moonshot ends. Now, looking at past situations like this on the charts, history shows we could stay up here for a week or so.
So, if the NAZ extends itself beyond 2050, and hovers for a few days, (or some how finds a way to tag 2100) then I'll dive in deep with a short position until we fill that gap.
One other thought: the SOX does show signs of turning, including a topping candle.
stockcharts.com[w,a]daclyyay[db][pd20,2!b4!f][vc60][iUk12!Up14,3,3]&pref=G
Terry has made the point that the SOX should be leading this rally, which it has; now maybe we'll see if it leads us down, or if the broader market jumps in to help lead us even higher.
Peace V
J.K. |
