Market Wizard Linda Reschke's 12 Technical Trading Rules:
1. Buy the first pullback after a new high. Sell the first rally after a new low.
2. Afternoon strength or weakness should have follow through the next day.
3. The best trading reversals occur in the morning, not the afternoon.
4. The larger the market gaps, the greater the odds of continuation and a trend.
5. The way the market trades around the previous day’s high or low is a good indicator of the market’s technical strength or weakness.
6. The previous day’s high and low are two very important “pivot” points, for this was the definitive point where buyers or sellers came in the day before. Look for the market to either test and reverse off these points, or push through and show signs of continuation.
7. The last hour often tells the truth about how strong a trend truly is. “Smart” money shows their hand in the last hour, continuing to mark positions in their favor. As long as a market is having consecutive strong closes, look for up-trend to continue. The up trend is most likely to end when there is a morning rally first, followed by a weak close.
8. High volume on the close implies continuity the next morning in the direction of the last half-hour. In a strongly trending market, look for resumption of the trend in the last hour.
9. The first hour’s range establishes the framework for the rest of the trading day.
10. A greater percentage of the day’s range occurs in the first hour then was the case in the past, and thus it has become increasingly important to trade aggressively if there are early signs of a strong trend for the day.
11. There are four basic principles of price behavior which have held up over time. Confidence that a type of price action is a true principle is what allows a trader to develop a systematic approach.
The following four principles can be modeled and quantified and hold true for all time frames, all markets. The majority of patterns or systems that have a demonstrable edge are based on one of these four enduring principles of price behavior.
Charles Dow was one of the first to touch on them in his writings. Principle One:
A Trend Has a Higher Probability of Continuation than Reversal Principle Two:
Momentum Precedes Price Principle Three:
Trends End in a Climax Principle Four:
The Market Alternates between Range Expansion and Range Contraction!
12. In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word –
Nobody! Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.
@MarkPocan I’m an independent. Not crazy about Tiffany. But I will vote for him with enthusiasm if Hong is the D nominee. And I don’t think I will be alone.
99% of the time you can drive and pick your shit up faster and cheaper than doordash. You fuckers are just lazy period. Your tired because you made a powerpoint.... fucking shit you pussies. GenX doesnt cry we just fucking fix it. My only sorry is we are responsible for how useless you fucking kids have become because we enabled it during your youth trying to make life easy for you.
Please understand that no pitcher in recorded baseball history had thrown more than 14 pitches at 103+ MPH in one big league game....and that Jacob Misiorowski threw THIRTY of them in the first 4 innings today.
Only in America does someone step out in a $150 sneaker, sip $8 coffee, post from a $1,000 phone, and claim they are oppressed and capitalism is broken!
⚠️ YOUR GRANDKIDS WILL NEVER SEE A HUMAN CLEAN A HOTEL ROOM
Tesla Optimus Gen 3 just activated “Hotel Cleaning Mode”
and did in 10 seconds what housekeepers spend hours on.
While you’re still thinking “this is years away”…
the robot is already:
– making the bed perfectly
– vacuuming every corner
– folding towels better than any pro
The future didn’t arrive.
It’s already standing in room 214 waiting for you to wake up.
If you still think robots are “just hype” —
you already missed the point of no return.
Can’t describe the feeling of being back out there for the alumni game today. It was surreal to feel the adrenaline get going again. What a great event put on by the @Brewers. Thanks for the warm welcome back, Milwaukee. 👊🏻
🚨 Elon Musk just NUKED this reporter to her face in a MASTERCLASS
"People loathe you!"
ELON: "I don't care. The fact that a quarter billion people follow me means a lot more people like me than don't."
"I think a lot more people hate YOU and the MEDIA than you realize!"
🫳🏻🎤
TODAY'S LESSON IN IRONY…
THE FOOD STAMP PROGRAM IS ADMINISTERED BY THE U.S. DEPARTMENT OF AGRICULTURE. THEY PROUDLY REPORT THAT THEY DISTRIBUTE 40 BILLION FREE MEALS & FOOD STAMPS TO OVER 37 MILLION PEOPLE ON AN ANNUAL BASIS.
MEANWHILE, THE NATIONAL PARK SERVICE, RUN BY THE U.S. DEPARTMENT OF THE INTERIOR, ASKS US, "PLEASE DO NOT FEED THE ANIMALS". THEIR STATED REASON FOR THIS POLICY BEING THAT..
"THE ANIMALS WILL GROW DEPENDENT ON THE HANDOUTS, AND THEN THEY WILL NEVER LEARN TO TAKE CARE OF THEMSELVES".
THIS CONCLUDES TODAY'S LESSON.
ANY QUESTIONS?
Wow.
@JohnKingCNN@CNN I wonder if you understand how absolutely arrogant and supercilious you sound telling us that the president has a history of misleading, etc. Where was your great care for feeble-minded Americans when Obama was telling us about liking your doctor and keeping your doctor, when Fauci was telling us that masks are mandatory because they work and then oh no they're not because we need them for other people. Where were you when Fauci and half the governors in the United States demanded every citizen get the vaccine, knowing it did not stop transmission?
Fuck off and don't stop fucking off until you can't fuck off anymore.
@ATLAreaWx No, I go to work in the dark, and come home in the dark.
Now I can still go to work in the dark and come home in the light.
And yes I have a kid who is 7 and she can go to school in the dark and come home in the light when Dad gets home and we have an hour of sunlight to play.