Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
Monthly Journal: Traders' Insights Wanted!
Views 190K Contents 3258

Be Careful

I should start by saying that I don't think this rally is over yet. But be careful at market open today. All of the major indices are showing signs of overbought conditions on the short-term indicators. Most tickers are experiencing overbought conditions after yesterday's rally. And also remember that after a massive one day rally there is usually a little profit take that will follow. Swing traders like to take profit from time to time.
I'm not saying to sell your long position immediately when intra-day trading opens. Remember that indicators will stay in oversold conditions for some time during a rally. But, hypothetically speaking, if we start seeing multiple red candles with the volume building and momentum to the downside increasing then personally I might cover my long position until the trend bounces.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
1
1
1
4
54
1
+0
29
Translate
Report
792K Views
Comment
Sign in to post a comment
  • Dragon God : ?

  • SpyderCallOP Dragon God: I believe the rally will not be over yet. But there might be some selling to bring the price down after a sharp 1 day rally. Then after that the rally will continue. i don't know if the selling will be today. but when the selling happens then remember the rally will more than likely continue after that.

  • 你老味 : Less vibration, still need to care, hold on and wait for the future

  • SpyderCallOP 你老味: im lost in translation. you are saying to just hold. correct?

  • 你老味 SpyderCallOP: yes

  • SpyderCallOP 你老味: got it. That would probably be the easiest way to handle the situation.

  • Andytanmh SpyderCallOP: Agree

  • 只若初见 SpyderCallOP: I believe the rally will not be over yet. But there might be some selling to bring the price down after a sharp 1 day rally. Then after that the rally will continue. i don't know if the selling will be today. but when the selling happens then remember the rally will more than likely continue after that.

  • SpyderCallOP : institutions rarely lose too much. If they lost any money then it would have been yesterday. Many shorts were squeezed out of their positions. Yesterday most of the decreases in open interest on options contracts were long term short put contracts.

  • 72779186 : Buy physical and forget about it.

View more comments...

Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2993Following
26KVisitors
Follow