This weekend's screencast is in three parts. And by miracles of science, technology, and a timely nudge from someone knowing better, they're now embedded.
...like my teeth!
Part-1 - The Bad (Heavy action overall + RR-Tracks patterns on LQDT and SWI):
Part-2 - The Ugly (ugly is you thinking this is another 2008):
Part-3 - The Good (some leadership stocks and industry groups: ULTI, CXO, SE, KOG, GPOR, HD, FAST, GWW, TSCO, Copper and Crude Oil, are all discussed)...
2 comments:
The analogy of getting stuck with a knife is great, it really clarifies to me how this entire market is behaving... the tentativeness, the lack of any conviction and the sharp moves back and forth. Like you said, the first stab was a surprise, but the second one people feel like they can avoid, so they're trying to hard to get caught again.
And it goes the other way too in terms of people who missed the dips. Some coworkers were regretting missing buying on the dips, so they're waiting and then jumping into stocks like NFLX because "it's on sale" and they don't want to miss another rip up.
I like how you word it - first time is shock and second the time you see what led to that shock you go running before it can get you.
And the missing out as well.
Psychology still big in the markets, which means opportunity to take advantage hasn't really changed. ...given we're in agreement, looks like we're going down together :)
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