Archive for October, 2019

Downside gap and runaway prices cause us to flatten our accounts…

Posted on Oct 02, 2019 by .

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The downside gap and 500 Dow point fall cause us to virtually flatten our positions, and go to the bleachers.  While you can almost never predict what will happen next, you can say that the present is so unpleasant that you change your posture to sitting on the sidelines and waiting patiently for a reentry point.  And of course there will be  one.

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Prices teeter on edge of support….

Posted on Oct 01, 2019 by .

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The rectangle that formed in August offered an obvious interpretation (uncertainty and contest) — and the breakout in early September appeared a clear buying invitation. Now the breakout wave has turned down and prices are right on the edge of support.  Extensive penetration here would cancel the signal created by the breakout.  Remember the first rule of trends– that the present trend tends to continue.

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