Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 31.69

+2.9%

Nov 21 4:00 PM EST

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To: Thrifty955 who wrote (172482)	4/26/2022 7:34:10 PM
From: robert b furman	2 Recommendations of 206968

Hi Thrifty, Study this chart that Runomo gave us tracking the put/call ratio: Message 33812937 Look for the mid to late January of 2022 where it spiked up to 1.25. Yesterday we went above that to 1.30. Today we dropped down to : 1.16 stockcharts.com Back to the January peak of 1.25. Note that during that spike in January (1/14 to 1/24 - 6 trading days) the market had a string of wide price ranges all within the same range for 6 days. Each day the close was lower. The opening on the 6th day was lower, but the market rocketed up on the 24th and never looked back. If you are extended and this price action is churning and closing lower, you are sweating margin calls. Imagine a large holding in TSLA - down 121.60 TODAY alone! YIKES - scary stuff on a widely held stock including a lot of funds. This grinding is causing some selling - a lot of selling. We're now three days into a similar, volatile downdraft of selling with fear. May have to tough it out till Friday. The boys are creating some selling, and rest assured it will be marked up soon enough. Great stocks are making more money and reinvesting in their businesses, and you can buy them at a BIG discount this week. They give us these buy opportunities only 2-3 times a year. Buy that stock you've always wanted, but felt it was too high. Don't go crazy, but take a position and let it work this week. I'm thinking you'll be up by next week. Wait for the RSI to show you a wash out oversold time period (several consecutive hourly periods of 2-4 RSI's and snag some. Good earnings, good revenue, good guidance, big dip after announcing their good results, buy the dip! Bob

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