Category: Technical Trader

This Friday’s screens had a bullish tilt, with 41 buy signals and 28 sell signals. This indicates minimal thrust and some drag but it’s enough to keep the averages churning higher in small increments.

Yet again, whenever I pick a few shorts to add to the list, the market smacks me upside the head. Fool me once, shame on you, fool me twice, shame on me. It’s like our permabear friends, whose names I’ll withhold out of respect for the dead, who have been warning for 12 years that the market is about to crash. They will be right one day. Well, every few months I’ll see a few short picks that I like and add them to the list. We’ll probably keep losing money on them, but one day, I’ll be right. You’ll see! 😆

Yet again, whenever I pick a few shorts to add to the list, the market smacks me upside the head. Fool me once, shame on you, fool me twice, shame on me. It’s like our permabear friends, whose names I’ll withhold out of respect for the dead, who have been warning for 12 years that the market is about to crash. They will be right one day. Well, every few months I’ll see a few short picks that I like and add them to the list. We’ll probably keep losing money on them, but one day, I’ll be right. You’ll see! 😆

I often refer to rangebound markets as meat grinders for swing trading purposes. The more tightly rangebound they become, the more false signals are generated, and the more whipsaws there are. This market certainly qualifies. Last week’s list got ground to a pulp. All 6 picks had minor losses. Two got stopped out, and one will be dropped as of today’s open.

Cycles are topping out. That includes the big ones.