Cycle Trading

[Duma]

Good week to be on (mostly on) the sidelines.

It was a terrible week for me. After QQQ made basically a 6 day run to the bottom, on Monday we got a turnaround green bar. From the close on Monday to Friday's, QQQ was up 2.9%. That is a lot of gain to let go by with out doing anything. I did go super long in my SmAcc Thurs EOD and gained 2.5% yday, but my big accounts just sat there.

Part of the issue is that the TA's were beat down so low by the 6 day down run, that it also took several days of up to get a buy signal. I got that signal on Fri and I did go long at the close.

It is less that 1% from Fri's close to the LOD. If the market falters Monday, I would consider that as a place to exit. But I think there is a good chance that next week will be a good one. For the most part earnings are coming in good.

You did get a full bar above ma9 Fri, so you got a buy signal just as I did.

What happened this week is a very rare event, but I will be better prepared to act on something the next time around. Experience and Learn for me.