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Setting up for a small long. Looking for the beginning of wave 3:

If many more traders lose than win (can we agree to this?), money ultimately flows from the many to the few. Therefore the crowd is usually wrong and they tend to have the most conviction at the turning points, from my own observations. And I've been in that crowd many times..... Have you...

It's a man, baby!

I'm no expert but the hourly is starting to look like a limp flag / windsock for a bullish move next week. Bearish sentiment is starting to get more noticeable, and we all know how the market likes to inflict MAXIMUM PAIN

Thanks. Even "Phantom of the Pits" had a rule that you needed to press your winners. I could have stayed in the rest of the day and quadrupled the realized gain. But it sure is good not to be losing, as usual. :D

Escaped this morning, barely green...

Time for a bounce?

Thanks. Just escaped SQQQ with a small profit. Not taking any chances after yestarday, since we're so far down range on the daily. Was sweating that one... *edit- worth mentioning the psychology of getting out here. The payoff is relief from worry over further unexpected setbacks, and a...

Absolutely textbook "one day reversal" bullish engulfing candle on huge volume today. I'm still long 300 sqqq. Outch!

Epic call!

Logged back in to see the unpleasant surprise. Today's action is an exact match of what Jessie Livermore called the "danger signal" or "one day reversal". Price makes a new low, closes above the previous high, volume greater than the previous day (and the same in reverse for a top). Will be...

Two of Berkshire Hathaway's holdings:

One of the many reasons I enjoy reading your posts!

Yeah was just thinking the same thing. We're locking onto the much longer waves in the market by doing this. Position profit just doubled this morning. My trading development over the years has taken these stages: 1. Obsessing over an accurate entry (which I did find, eventually, and even...

Not much bearish sentiment out there yet, just stunned silence.......

DIY auto repair still looking strong:

A few weeks late, but even the mighty Apple is flashing the warning now:

Speaking of AI, even the robo-TA at Finviz is picking up the obvious:

The trend is your friend until at the end when it bendz

Whatever happened to Jack Hershey (possibly related to Jack Morgan) who had a trading system that would "extract the full offer of the market"?