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Jpilleafe@xxxxxxx wrote:
> Just wondering if any RT'rs had thoughts regarding:
>
> 1. Significance of Transports making New 52 week lows.
>
Too bad for them.
>
> 2. Likelihood that 01-25 low marked end of Wave 3 down,...
> now forming Wave 4,....with further downside Wave 5
> (perhaps into the 02-01 to 02 time frame).
>
> Any perceptions appreciated. JIM
Ehh how would I know....?
Just kidding.. All I know is in corrections I always lose money if I
start becoming creative, so I let it go, do mostly nothing and wait till
the picture gets clearer... Usually I am about safe with that strategy,
and a side effect is that I keep my energy up, and am better at hitting
trades when the trade resumes, as I am not worn out by endless strings
of fruitless trades.
To me we are in some wedge, or maybe corrective mode. I don't think 52
week tops are in on the DJ, SP or NDX, nor the EUR and JAP markets. I do
expect however further bullshitting around with setbacks of about 10%
quite possible. But if I anticipate them and they don't come, I am out
of my long term positions and sit real stupid. If I stay in, I might get
hit 20%, but then I don't need to figure out where to buy, as I am in
already... To resolve that dilemma, I usually build cash reserves on
those areas that were a bit overextended and wait for nice trades to set
up in front of my nose whenever markets decide to offer these.....
Yawnnn. Who said trading is exciting???
And if they don't, because markets did rise nevertheless, well then I go
hunting the next mover and shaker, playing momentum. Who said trading is
not exciting???
:-))
Gwenn
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