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olt! is a way station and oasis on the ancient road from Bedlam to Bellevue, dedicated to free and open discussion of topics moving heart and spirit.
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From: Paul (SNOTZALOT)
Aug-5
From my HGSI Facebook Group.
So who among you are going to ignore the Hindy warnings next time? Often tossed out as a worthless indicator but once again it has proved valid.
The US Market Summary report gave us a series of 5 bucket drops last week. Ian Woodward reminds us again, Never Ignore a 5 Bucket Drop.
We had numerous Bingo indicators on the indexes, an oversold indicator and we often can get more oversold.
Tweets, tariffs and china devaluation seem to be the culprit. If you have any other suggestions please list them!
This was a day for picking peaches and weeds from the garden and having cash in your account.
Big rally tomorrow? Perhaps but my garden needs weeding.
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Yes I know markets go up and down and your 401K did great last year, this is a different year and take some Tums before you check your 401K this evening.
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From: Paul (SNOTZALOT)
Aug-6
Before the open:
After the drop we saw yesterday a bounce is logical. At 6:55 AM ET it looks like an up open this morning. Futures are rallying on Chinese fixing of the Yuan.
An interesting article to consider, keep in mind it looks at history and history changes at the opening bell.
A reminder from Ian Woodward, don't play snakes (chutes) and ladders with your money!
As Fred suggested if you wish to play this, you do it with stops and you watch the screen!
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