Last week was painful, and I expect even more pain this week.
After some reflection this past weekend, mostly kicking myself for straying from the plan, I called an audible and ignored what the chart was clearly telling me I should do.
Last week, the chart told me to move from SOXL@155 to SOXS@9.5 for a 6% loss. I ignored it. At close Friday SOXS was at 10.9; a 20% increase I missed.
If I subtract the 6% loss from the 20% gain, I am still left with a 14% overall increase if I had followed what the chart was telling me. If the chart were to reverse early this week, and tell me to move back into SOXL, I would likely capture some gain on the move back up too.
I figure I lost out on about a 20% return total down and back up by not being on board with this market move.
Also, UVXL is running away from my hoped for bottom. I was already speculating on a 20%+ return there. Not to be this time.
Oh well, all this just confirms for me the plan is a good one if I simply follow it.
Thank you for the further education on your chart indicators. I am still learning from it.
GLTY
