To: Cogito Ergo Sum who wrote (115236) | 11/12/2021 9:15:44 PM | From: Rarebird | | | I focus on the charts, not the news and the charts tell me this market is headed a lot higher, to at least SPX 6k. It won't be pretty when it ends, but it never is. Lots of tears, grief and heartache.
Timing is everything in stock land.
Life is a gift I cherish.
Nothing lasts forever. But I can enjoy it while it lasts before the Darkness comes.
I have an escape plan when the time comes.
Enjoy the Bull ( and Life) while it lasts. |
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To: Sun Tzu who wrote (115215) | 11/23/2021 8:52:40 AM | From: Rarebird | | | So, what do you do in a situation like this where it appears that Gold is back below its old trading range ( pending the close, of course) after recently breaking out? Do you sell or hold?
There needs to be a time line for a break out to be considered a true break out. Lots of stocks temporarily break out of their range and then reveal that it was a fake out a few days or a week later. |
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To: Sun Tzu who wrote (115243) | 11/23/2021 12:46:35 PM | From: Rarebird | | | What took place in regard to Gold is typical: lots of stocks have strong breakouts and then retreat into their own range shortly thereafter. I went through this with AA, which broke out recently with an 11% daily gain, only to fall back within its old range. But now the range has extended. I am up a bit, nothing special. I am long a number of stocks that go up/down 5% on a daily basis. Their daily range is sometimes 7-8%.
In the case of Gold, I think you were wise selling. I say this because Gold is a momentum trade and the momentum was broken today.
I am long stocks that trade within a box of 15%. They hold the range for months, then boom!! It is all about your time horizon and how you size up the company, fundamentally speaking. |
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