Comments on: Stock Market & Gold Analysis 12-9-20

By: HermonMunster

HermonMunster — Thu, 10 Dec 2020 16:15:26 +0000

UNG is on the move as well as most oil stocks. Iraqi oil field was bombed.

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 10 Dec 2020 15:22:51 +0000

In reply to Jeff Vandenburgh. Wow, that ended up being a great call to reverse to long. Heck of a bounce this morning.

By: becky

becky — Thu, 10 Dec 2020 14:37:20 +0000

In reply to Imadaytr8r. Look at ECB news today. Crazy. Free money for everyone.

By: Imadaytr8r

Imadaytr8r — Thu, 10 Dec 2020 14:19:22 +0000

In reply to becky. One thing I’ve learnt is if we get a strong correction going the Bear hunter Larry Kudlow will swoop in like Spider-Man with another Trillion dollar stimulus package and kill the correction onsite!

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 10 Dec 2020 14:00:25 +0000

In reply to rsotc. Reversing to long after just one day down?

By: becky

becky — Thu, 10 Dec 2020 09:15:14 +0000

Both /NQ and /ES have positive divergences on hourly. /ES held the up trendline support. If anything I learnt from this market is that it will run back up in no time. In such strong up trend it’s better be long with the stop somewhere below than short.

By: FooHawk

FooHawk — Thu, 10 Dec 2020 03:04:13 +0000

@rsotc Can you take a look at SHOP. Looks like it just dropped from the top of a multi-month trading range. Looks like its good for a ~16% drop over the next week or two.

By: Imadaytr8r

Imadaytr8r — Thu, 10 Dec 2020 02:43:52 +0000

In reply to rsotc. Hi Randy, how much of a bounce are you expecting? The drop to 300 was 2% so 1%? It closed .5% above T1 ... since drops can happen in a flash I would hate trying to squeeze 1% out of a bounce then miss a 90 second 3% flash drop! ... hope you’re continuing to heal.

By: rsotc

rsotc — Wed, 09 Dec 2020 19:06:56 +0000

QQQ 1st (min.) target hit providing active traders a chance to reverse short to long for a quick bounce before the next leg down.