Lessons on NASDAQ by charty

CHARTY

Active member
119 1
#3
Thank you Dr. Iraj.
Any time I write, I try to share what I believe is my knowledge, but I am also hoping to learn more from other people's comments.
I am not sure if I achieve the 1st target, while I am sure I could do with more of the second.
Now, literally, as of now, the cash markets in the States are weak, while the relative futures are stronger, or anyway, more resilient to give up gains.
What does that tell me?
Well, I may be wrong, but my reading is that the futures will have, eventually to catch up with the underlying cash markets, if these give up the latest gains. At thta point, it will be longs' turn to be caught out, this will trigger cover, and add more wood to the downfire.
From a future trader's point of view, this divergence increase the risk (and awakes insane instinct to short the future on the Nasdaq AHEAD of the fall).
Here is where DISCIPLINE proves to be the most important skill for a trader.
Technically, we did not have any down signal, not yet at least (at current levels we may well end up with a Doji or bearish engulfment or dark cloud cover on candlesticks, but it just a guess!!).
So, like a disciplinated soldier, I Rremain on red alert. I will join the army of the bears only when the signal is given...BUT I definitively remain on red alert..today, right now, I am NOT watching on my screen the bullish of the markets, definitvely NOT!

------------------
The above does not represent financial advice.
 

Similar threads