Sunday, August 12, 2018 9:32:31 PM
I was trying to take in this consolidation mode from a larger perspective this weekend. I was just thinking that if this was just the garden variety pullback we should be storming higher again. But 6 months now I had to at least take in the possibility that this could be a longer consolidation.
Some times my problem is that I watch too many analysts stuff and I forget to just look at the charts. One of my motto's is to "Trade the chart and not the chatter".
So I like to throw out some comparisons on consolidations and what is Possible.
That rejection of the old all time high was interesting. Sure put some fear in the market and probably a lot of traders that were bag holders may have decided to take profits since they finally came close to getting their money back that they lost 6 months ago. LOL
Still a lot of time before the market opens for us. Will be interesting to see. I was actually hoping to get a chance to buy some 30 to 31 TVIX
Some times my problem is that I watch too many analysts stuff and I forget to just look at the charts. One of my motto's is to "Trade the chart and not the chatter".
So I like to throw out some comparisons on consolidations and what is Possible.
That rejection of the old all time high was interesting. Sure put some fear in the market and probably a lot of traders that were bag holders may have decided to take profits since they finally came close to getting their money back that they lost 6 months ago. LOL
Still a lot of time before the market opens for us. Will be interesting to see. I was actually hoping to get a chance to buy some 30 to 31 TVIX
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