ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

The Ox

To: The Ox who wrote (59445)	5/10/2022 10:40:34 AM
From: Sun Tzu	2 Recommendations Read Replies (2) of 97567

I am thinking that the days of multiday ups are postponed until further notice. So I sold my fallen knife of the day, UPST for a 9% gain. That is the best one can expect in this market - 1 step forward, 5 steps back. As of last week, I had 227 GTC buys. Less than 10 have gone through so far (because I am so cheap on my targets). And I have had to flip some of them, like UPST or FB, faster than expected. Here's my weekly proxy for market risk appetite. When it hits the bottom of the channel, it bounces. But it is far from showing a change in trend. If you keep extending the trend lines (and I can't promise that it will keep going that way), some time around September (give or take a few weeks), the trend should hit the lower BB (that is the hardly visible green line on the bottom right). That is when I think we'll hit bottom.

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