Archive for 'Letters'

Price breaks out…

Posted on Sep 05, 2019 by .

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http://schrts.co/fuyjKHJs

The SPX jumped 23 points in a powerful exit from the long standing rectangle. (22 trading days).  Conservative investors may wait for confirmation — that would be a new high.  More aggressive traders  will buy  the breakout.   The trade may be evaluated — or criticized — as being a knee-jerk reaction to news.  Excessive volatility will continue.

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One tweet values 623 points?

Posted on Aug 25, 2019 by .

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http://schrts.co/aMxqKSxY

As we were saying–the primary hazard of this market  (so far) is extreme surprise volatility.  While we have drawn a downwave trendline here we would be very chary of betting on a breakout of that line.  Rather an aggressive trade would be trading a clear breakout of the rectangle as indicated by the horizontal line.  A more conservative trade would be after a new high.  Until Trump passes from the scene market squalls can occur at any moment.

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Bizarre bungee markets…

Posted on Aug 18, 2019 by .

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A line chart which shows the volatility close to close. The recent days have been in some cases historic and bizarre.  So much so that we made a note of the daily ranges, which are to say the least, unusual:   562 (7/31),  626, 735,  632, 345, 354, 593, 536, 564, 593, 1300 (closed down about 800 (that is) 3% a historic record).  Looked at from a different perspective:

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Posted on Jul 05, 2019 by .

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http://schrts.co/ZSynMrVZ

A

As is obvious from the chart,  price has broken out from the stutter step it engaged in at the prevous high and is giving a buy  signal.  We will be adding on to our position.

http://schrts.co/RZDZHKZs

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On the razor’s edge…

Posted on Jun 23, 2019 by .

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http://schrts.co/qdvDsUSv

By a hair prices have made a new high.  This awaits confirmation.  Elements to consider:  Climax like volume; Flag formation is not complete and has more upside in it; Confirmation should ignite a strong new wave; Is this the top of a second wave of a double top pattern?

Confirmation is a strong buy signal. (will be)

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