ES Journal - 2023/2024

vanzandt said:
Hey but, and for real, how many nights in the last few weeks have we seen that this early?(15 points) I was gonna look, but you probably already know. This thing may bounce, but we're heading south.
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You have your pencil, and i have what looks to be the standard pattern in a continuing bull market. The morning dip by about 10:30 AM ET (+/- an hour) but then recovers into the afternoon.
 
vanzandt said:
Actually, it might be more. But tech is the 800 pound gorilla in the room. Anyone who says AI is a bubble, is friggin dumber than dirt.
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Yes, AI is here to stay, but in a bear market even the best sector gets a free ride down the cliff. Then the question is, will there be a steep recession that will swing the pendulum from the "Sell your children if you have to and buy AI stocks!" to "Get the f^ck out of AI before your children kick you out of the house!"?
 
schizo said:
Yes, AI is here to stay, but in a bear market even the best sector gets a free ride down the cliff. Then the question is, will there be a steep recession that will swing the pendulum from the "Sell your children if you have to and buy AI stocks!" to "Get the f^ck out of AI before your children kick you out of the house!"?
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Yeah but you left out the one part of my quote: "three years out"
AI is here to stay Schiz.This is not a 2001 bubble. For the right stocks that is.
 
schizo said:
Yes, AI is here to stay, but in a bear market even the best sector gets a free ride down the cliff. Then the question is, will there be a steep recession that will swing the pendulum from the "Sell your children if you have to and buy AI stocks!" to "Get the f^ck out of AI before your children kick you out of the house!"?
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Again, this is not 2001. WS is smarter. It will buy the dips in the right stocks... tide be damned.--> Three years out. Long term wealth building.
 
vanzandt said:
@Overnight.... Last week I think it was, and I forget which thread it was on and who you made it to, but you were going off the rails like a madman at someone here and I thought to myself... "Geezuz...he's losing it.", .
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You just refreshed my memory... it was SML you went after.
Dude... who friggin cares? Relax.
 
I expected there to be some stammering of the ES when it hit 5000. It typically does not just blast right through big round numbers like that especially when they’ve been reached for the first time. From a big picture perspective it seems we are still in a bull market so I wouldn’t get too excited on the short side. Not to say it won’t decline and stammer a bit, could even drop back to 4500, but unless some trigger occurs I’d say long term is further north.
 
Lespaulr0cker said:
I expected there to be some stammering of the ES when it hit 5000. It typically does not just blast right through big round numbers like that especially when they’ve been reached for the first time. From a big picture perspective it seems we are still in a bull market so I wouldn’t get too excited on the short side. Not to say it won’t decline and stammer a bit, could even drop back to 4500, but unless some trigger occurs I’d say long term is further north.
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hi B1;)
 
There could be a pullback going into the election which tends to happen as traders begin to worry about the unknown. And followed by a relief rally after it‘s decided regardless of the winner.
 
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