A bullish perspective.....
I have gone long the NASDAQ at the close... I will not be holding extremely long, unless we drop more before a recovery. In that case I'll keep adding..png)
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Thursday, November 20, 2008
Charts
Missed opportunities...
This morning, I increased my entry thresholds. I did this, because it allows for a larger initial entry at a more extended level. The trade is still able to be managed, but you have more overhead due to the delayed entry. The draw-back of this is missed opportunities. I increased my entry threshold by 1%. One of the ETFs came with 0.25% of trigger before compensating. That opportunity passed by, with entry thresholds I used yesterday, I would have been in the trade and harvested 8-9% profit. The whole point is, the larger the account, the quicker the entry, the less missed opportunities. Cash is power, power captures opportunity.
Markets are pretty much neutral as of this post, I am sitting and waiting.
Intra-day H&S
The right side of the head reset some indices, which means this intra-day H&S pattern should complete successfully and not fail. The SPY target would be 81.50ish. I am not playing this speculative move, just a tid-bit.