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Buy and Hold at 5000? 2/8/24

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Feeling a little warm? You should. It’s 5000 degrees out there.

First, a little perspective. Here’s a look at the 5 hour bars on the ES, 24 hour S&P futures going back to the October 27 low. Now, in terms of day trading only, because that’s what we do here, what would you do today? Buy or sell short?

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Now let’s zoom in to the 2 hour bars. Again, strictly on the basis of day trading, as of the NY open today, what would you rather do? Buy or sell short?

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Now, just looking at the usual 1 hour bars, in a vacuum, assuming you had not seen the first two charts, what would you prefer to do on the NY open? Buy or sell short?

13dc28

Interesting perspective, huh?

For moron the markets, see:

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