Comments on: Swing Trade Ideas 10-7-21 https://rightsideofthechart.com/swing-trade-ideas-10-7-21/ Stock Trading, Investing & Market Analysis Wed, 08 Dec 2021 19:06:46 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: HermonMunster https://rightsideofthechart.com/swing-trade-ideas-10-7-21/#comment-22583 Fri, 08 Oct 2021 03:52:51 +0000 https://rightsideofthechart.com/?p=206211#comment-22583 In reply to PaleFlame.

The charts are a great guide but news can trump them in the short term. The impulsive move is probably likely to a debt ceiling negotiations being postponed with a stop gap measure that keeps the govt running until December. The news has been hyping up a default and this crisis has been averted for the time being. Maybe we’ll have a few more days effect from this development, then the market will get back to doing what it was going to do anyway.

Fun fact, the US has already “defaulted” twice. Once during the continental congress period after the revolutionary war and the second on Aug 1, 1971 when Nixon closed the gold window.

The US was more or less printing money to pay for social programs and Vietnam. France knew this was happening and decided to send back a whole freighter full of dollars to redeem them in gold before the dollar lost more value. (gold was priced at $35 an ounce) Nixon closed the gold window meaning dollars were not linked to gold anymore. While technically not a default, a common person would definately view changing an agreement as one.

]]> By: JBAINVEST6 https://rightsideofthechart.com/swing-trade-ideas-10-7-21/#comment-22582 Thu, 07 Oct 2021 20:30:25 +0000 https://rightsideofthechart.com/?p=206211#comment-22582 I really like YTEN right now. The divergences are nice. Volume has been low but it feels like the pressure is building. Volume finally started to pick up today. Randy covered it last week with the AG inputs.

]]> By: Imadaytr8r https://rightsideofthechart.com/swing-trade-ideas-10-7-21/#comment-22581 Thu, 07 Oct 2021 19:04:43 +0000 https://rightsideofthechart.com/?p=206211#comment-22581 In reply to PaleFlame.

Watch out! If I buy into it for sure it will test new recent lows! I seem to always end up on the wrong side of the chart no matter the divergence! … I know you can make a small fortune shorting stocks but unfortunately it takes a large fortune to do it! :-(

]]> By: PaleFlame https://rightsideofthechart.com/swing-trade-ideas-10-7-21/#comment-22580 Thu, 07 Oct 2021 16:56:44 +0000 https://rightsideofthechart.com/?p=206211#comment-22580 In my humble opinion, and I was wrong on how long the pullback would last, this bounce is different from the initial bounce that seemed like a countertrend short cover rally. It was a very impulsive bounce. This rally comes from days of consolidation on the SPY. I feel a lot more confident about this bounce and averaged down during the consolidation. At this point I am still a little underwater, but I still think new highs are coming from this bullish divergence.

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