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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Jacob Snyder who wrote (68364)8/31/2022 3:08:27 PM
From: Lee Lichterman III1 Recommendation

Recommended By
towerdog

  Read Replies (2) of 97546
 
I'll try to remember to post some charts tonight but most of the pharma stocks I watch are in downtrending channels. Healthcare ETFs likewise though they've held up better than the general market.
Geesh, I go and mow for a few hours and you guys tank the market. Closing in on the 3950 everybody was targeting so now it gets interesting.
I dipped a pinkie toe in UTG. Holding back on buying too much in case we get 29-30 again like the June lows or lower. I had sold just about everything so need some dividends for income. I had bought some BDJ too early but averaged down on the dips last week and then bailed on the bounce. Looking to add in small portions on weakness. Watching THQ for healthcare, MLPX in midstreams which is why I was looking at oily channels last night.
Not really into single stocks much here. Just saw tweet cellphone sales expected to drop 6.5%. Seagate said same as other computer companies that basically sales are in the toilet and getting worse. Korea said semis are the same. Semi bulls always think the good times will last forever and apparently can't look at long term charts showing regular boom bust cycles.
Trying to decide if 3950 will hold. We are getting oversold and EMAs should be getting close to bounce territory, holiday weekend coming but sooooo many are looking at this target I'm thinking it fake bounces then blows through. Just a gut feeling.
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