@KorpioProd@Barchart You mentioned Swiss banking secrecy. It was the USA and the European Union that forced Switzerland to abandon it. The Swiss would never have voted for it.
Selling is the the tale of the tape and yesterday the selling increased as the Nasdaq closed lower -4.00% and the S&P 500 was down -2.70%. Volume was well above average while this market has still not been able to bounce for any longer than one single session with distribution dominating the action.
A proliferation of pivot failures and clear distribution in the indexes forced us to high levels of cash, and we also shorted the $SPY just 3 days off the all-time high. As the selling intensified, our long term SPY model started raising some cash as well.
This morning I covered half my $SPY short initiated on 2/24 at a 7R profit.
I think there's a chance that we melt down further from here, but our work suggest this is a cyclical correction within an on-going secular bull market. With that said, it is likely to take some time for stocks to build bases and reliable low risk setups to develop.
The market indexes are deeply oversold which could certainly produce a strong snap back rally as some of the biggest up days occur during bear market and large corrections. But keep in mind, a market that fails to rally from an oversold condition is a weak market prone to volatility. Risk is high, which means cash is king!
Cycle work points to the start of a rally in April. I will be waiting for stabilization and stock setups before moving back into the market aggressively on the long side.
This is where patience and "sit out power" are key, and it's what separates the pros from the amateurs.
https://t.co/JXzFFTmMtn
@Donovan_Ray_1@NCheron_bourse Tj durant cette conférence, il nous avait dit: « la meilleure manière de perdre son argent en bourse c’est de le confier à un économiste » 🤐
@Donovan_Ray_1@NCheron_bourse En 1990 j’ai eu la chance d’assister à une conférence d’André Kostolsny qui présentait l’effet mouton. Depuis lors, j’ai toujours ce schéma en tête mais je n’ai jamais vraiment su en profiter. Tj trop tôt ou trop tard