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This week the days are rated as B B C D C
Never give up, never surrender.
Small short Ftse at 5815 … stop tba … limit tba
Late friday I opened this low risk bet on bad news over the weekend.
Never give up, never surrender.
My plan is to add to my 1/4 Ftse short in three increments to
bring the size up to normal.
I will run these into EOM weakness as indicated by bull/bear.Never give up, never surrender.
We had the ‘Gilead spike down’ which is nearly closed but
there seems a bit more work to do. We are so near on all
the major stocks it’s probable that we see early upside
in both futures and cash markets.I will use this to add to my small Ftse short as per my
initial plan for the week ahead.Never give up, never surrender.
Bigger picture the numbers posted a while back are still my focus
for ranges that will determine a bear rally or new athsDow 24000 / 25000 – Ftse 6000 / 6500 – Spx 2900 / 3000
EW and patterns are not my thing but to me the drop from ath’s
to March lows counts best as an ‘abc’ or ‘A’ and we are now
in a ‘12345’ or ‘B’ with a new lows ‘C’ to come.Odds may lean that this rally off March lows ends in May and
then we can sell and go away (lockdown not withstanding).Never give up, never surrender.
I came across this on twitter . Makes interesting reading. I am not advocating following his advice.
Pritpal this may provide some explanation on what happened to the May oil contract.
I had not heard of Contango and Backwardation upto now.
I posted this before and I am still trying to work out how
this could fit going forward, assuming that it is correct.W.D.Gann’s Financial Time Table ( extended and adjusted )
2019 High stock prices
2020 Panic
2021 Low stock prices
2022 Very high stock prices
2023 Very high stock prices
2024 Major panic crashComments from kpaders most welcome.
Never give up, never surrender.
Hi Cimac , That is the problem I have had over the past several decades . Trying to figure out how things fit. I missed the greatest bull run in my working life as I thought everything was too expensive. Most people (no one) can consistently time the markets and if the could why would they share that information?
I would love the market to go down into 2021 as I plan to invest in some Mega-themes/trends via trackers and hold for 10 or more years. Pound cost average and pay attention to asset allocation with some money in gold and perhaps 5% in bitcoin.
I recently read a book called how to own the world by Andrew Craig (£ 3.99 on Kindle) which explains how inflation will eat into our wealth.
Hi Kitsu
History tells that when the top echelons borrow large sums of money,
they often use the old trick of creating inflation, to help them
pay off the debt.Anyone below 50yrs old should pay particular attention to this.
Never give up, never surrender.
SPX: it failed to drop to close the gap, and Friday was a positive day. I’m assuming the rise is a ‘three’ (but it could be a five) in which case we’ve had ‘a’ up and a ‘b’ down, so I assume it’s looking for ‘c’ up to around the 2,861 area (see chart). All of this is likely a sideways consolidation before moving higher (guess).
We had the ‘Gilead spike down’ which is nearly closed but
there seems a bit more work to do. We are so near on all
the major stocks it’s probable that we see early upside
in both futures and cash markets.Dow futures etc are playing this move and today we should
see euroland rth and then US rth complete their own moves.Dow is S2 with AM ‘l or ‘h’ dictating the lean.
This week looks like a ‘h’ to ‘l’ type action.
Take care, take it one day at a time.
Never give up, never surrender.
I think this week will be calmer than of late.
This morning I have opened two Dow trades to give
me some sort of interest.Small short Dow at 24000
Small long Dow at 23950As per usual I either close out on the swings
or just close together and take +50ptsStill holding the Ftse short for EOM.
Never give up, never surrender.
So far I am watching and waiting. I have shorts from last week carried over and happy to sit with them for now.
Plan your trade, trade your plan!
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