Until I see these chart patterns again, there is NOTHING FOR ME TO DO!!!!!!! I don't trade for pennies. I like to make 300% in one month. I don't then switch to daytrading during times like this because when it is time to go real big again you will have a warped sense when to sell and you will not have a SINGLE ONE of my 1999, 2003, 2004, 2005, or 2006 winners.
If you look at all my BEAUTIFUL MAX GREEN BOP charts and see those AMAZING gains produced via these incredible charts (which most of them were also CANSLIM quality stocks) and still think there is a better way well man....God bless you. Keep buying support and resistance. My methodology is proven to be of superior quality. This is why I have studied the greatest traders. So I can have stocks like this line-up my list of personal holdings.
Some of you need to go to 1999 and 2003 especially and memorize EVERY single one of those beautiful chart patterns. That way when this bear is over and a bull is ready THERE IS NO WAY YOU WILL OR COULD BE CAUGHT OFF GUARD. Those that make it through this--which will be only 10% of those that have opened and account within the past three years--will enjoy the next bull market unlike those that gave up. Most will give up. Are you?
I will be back later with a little look at our pathetic bounce that so many seem to think IS "the bottom." Amazing. This is an olympics, oil drops, dollar rallies kind of rally. This is not an institutional investor led rally. Short covering baby. This is what short squeezing looks like. Not real accumulation. If this was the bottom, people would be saying that stocks were going to continue to crash for sure. I see the VIX, I see the put/call ratio, I hear the talking douche-bags on TV. It isn't right for this to be a bottom. Everything is wrong. Bottom line, for this to be a volume, we are going to need to see a 3% to 5% up day on the Nasdaq where volume is 25% or higher than the day before, before I will believe this is a bottom. After I see that then I am sure I will find some of these.
There will be one more post before the market open. Aloha! For those reading this on another web site, please visit my website go to the longs drop down and select "past big winners." There you can go into any year and see MY personal BEST big winners. To make the list they all have to have been larger positions when I went long. Small longs and complete ugly charts that did well are not listed. Another option on the past big winners page is to look on the right side of the column and from there you can go to the actual year that you want to go to to see my big winners.
In this market environment you are either learning or you are losing money!
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