Go DOWN Already. What the is going on here?! Nothing discounted?

[vanzandt]

- the breadth keeps narrowing .

Exactly.
Thing is, that makes it easier to take one or the other higher on any given day.

I've written this before in another thread, and I'm not sure why he chose that member ID, but "buy1sell2" is a brilliant name, and its exactly what's going on.

You run "whatever" up when the dom is light, as the momentum catches on and/or the shorts start covering, you not only sell the shares it took to run it up, you sell the shares you've been sitting on also because what was a previously moribund buy side.... suddenly emerges in a big way.

Buy one, sell two.
There's nothing new under the sun.

 

[Overnight]

...

You run "whatever" up when the dom is light, as the momentum catches on and/or the shorts start covering, you not only sell the shares it took to run it up, you sell the shares you've been sitting on also because what was a previously moribund buy side.... suddenly emerges in a big way.

Buy one, sell two.
There's nothing new under the sun.

Wish I had known stocks for these years I've been trying to trade, because the futures as a whole (in indices) don't seem to follow that pattern. And certainly not GC! Good lord.

 

[GrowleyMonster]

All minimal good news is bought and all bad news is ignored. Nothing is factored in or discounted like the past 100+ years.

WHAT?!

Who are the nutjobs or geniuses buying nasdaq at this level? I must have learned nothing in the past 20 years after witnessing the nasdaq bubble pop in 2000-2001.

Er, that would be me. Been doing pretty good trading the TQQQ and I am going to start trading SQQQ soon. Easy money. I am amazed the bottom hasnt dropped out, too, but as long as it is headed for the moon, I am going with it. So I buy intraday sometimes hold overnight. Goes into a cyclical decline (look at the day chart you will see what I mean) I sell. Soon I will sell TQQQ and buy SQQQ same time. When TQQQ ready to swing up again I will sell my SQQQ and buy back into TQQQ. When the crash hits I keep doing the same thing but instead of a week buying/holding TQQQ and 2 or 3 days action with SQQQ, it will be reversed. No interruptions. I should barely notice that the market has crashed, as far as my bottom line goes. My rhythm is improving and I am getting a better feel for my stops and the momentum of the market. It is actually easier to trade than a single stock. Good algo strat, I think, and I will put that idea to the test soon. No I don't get 10% days but I have got a couple of 5% days and it is almost always good for about 1.5% except when I screw up. And I'm getting better.

 

[comagnum]

The NDX100 - not many stocks participating in the rally.

https://twitter.com/x/status/1296533751388930049

 

[KCalhoun]

Interesting divergence TZA up SQQQ down

 

[GrowleyMonster]

Interesting divergence TZA up SQQQ down

I think Nasdaq is going to do at least one more up cycle before it starts to flatten out, maybe a couple. It is booming, nice smooth day chart trend, low volatility for this much action.

Hey Ken, maybe you could short SQQQ. That way you can be a bear and still make money with the rest of us!

 

[GrowleyMonster]

But watch for your SQQQ to rally Monday, maybe Tuesday, gaining 8% or so over two or three days. It's in the cycle. The trend is your friend. Well, until it isn't. Caveats etc. I won't be in on it... gonna save up my day trades, and buy TQQQ again coming out of the dip probably Wed or Thu. and do a monster hold over the weekend.

See them cute lil teddybear teeth every 8 or 10 days? Meh. I like looking at the TQQQ daily chart better!

 

[Tradex]

The trend is your friend.

That's all there is to it my friend.

Took me more than 20 freaking years to realize that.

 

[Overnight]

That's all there is to it my friend.

Took me more than 20 freaking years to realize that.

Until the trend shoves a stick up yer butt and says "Tag, you're it", and yer left holding your own bag. Literally, maybe.

 

[bone]

I would guess that 80 percent of the people posting on this forum are chronic faders. They would fade any move. And that's really unfortunate.

There are a thousand posts on this forum about how Tesla is overbought. Been that way for years, now. But whoever is long TSLA from 2019 levels or March/early April 2020 levels is up 400% today.

I've seen too few day traders who will trade on the correct bias side of an established long term trend.

Until the trend shoves a stick up yer butt and says "Tag, you're it", and yer left holding your own bag. Literally, maybe.