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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Sun Tzu who wrote (72843)10/24/2022 12:58:34 PM
From: Lee Lichterman III4 Recommendations

Recommended By
ajtj99
Robert O
Sun Tzu
towerdog

   of 97958
 
As you say, it depends on your time frame. I took it easy today trying to get my confidence back and I'm quitting early since I tend to screw up as it gets later in the day but I just did 4 longs and 3 shorts all wins.
We're barely above the highs of the day and we are near the upward sloping channel upper line that has contained the rally so far. We could just flip around here or drop back and retest the lower line etc.
Midterm, yes, odds are we continue up but not too many should risk holding with all the earnings, bond and currency uncertainty.
I have to admit, I'm not sure of anything right now. Someone I listen to regularly mentioned months ago that rallies where crap rises is a bullish sign that the rally has legs. I looked back and have watched since and they were right. When all those negative cash flow, negative earnings crud stocks led, we moved up for no reason for a while before collapsing again.
This rally has been a mixed bag. Some crud stocks are jumping but others have been dropping like a rock still. I haven't checked recently but earlier today Pot stocks, EVs, solar were getting slammed along with ARKK down big and only recovering about half so far.
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