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Moonlazer

03/15/24 4:42 PM

#8507 RE: Moonlazer #8506

To be fair, I anticipated a green Monday for spy earlier, but even I am second guessing it. The MM's did really well at hiding their open this time.
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JJ8

03/15/24 10:59 PM

#8510 RE: Moonlazer #8506

I find it interesting how you manage (observe/follow/act) in keeping up with the many events, market activities (SPY, etc.), geo-political happenings of the times. I happen to be trying to do the least work finding T/A mainly being the shortcut for me, lol. In the same way I did manage to graduate in Civil Engineering doing my least, lol... only after securing the best scholarship (USAID). .

What impressed me was the 80's Guru Technician Joe Granville (he created the OBV Indicator), the Analysis of the Volume Complex of the DOW 30. That suited my lazy approach. He stressed not to mix Fundamentals with T/A. That would be like he said "mixing the fuel with water". And if you do that, your engine won't work. He pointed out that all are reflected in the price and volume of the stock already. Joe had great following in the early 80's. Thousands came to his seminar shows. Eventually he blundered big... just before the market started it's historic rise close to mid 80's. I used to attend almost every seminar that was an educational and an entertaining show. I still use his main book as reference besides others. Eagerly looked forward for his Weekly newsletter. Often it quoted also from the Bible, lol.

However, decades later, I learned that for success in trading one needs to do more and be more. Knowing of what impacts the markets, Fed activities and plans regarding the interest rate, inflation and how it all falls in time and how markets respond. Furthermore, political news events of importance domestically and worldwide impact the markets such as elections, pandemics, wars, etc.

GLTY & GLTA