OK, it's time to step back and wait for a trend to develop. I am mostly a month+ trader - the recent excitement got me involved in quickies again with the usual result, namely a waste of effort & small losses.
Yesterday both killed the prior IBD rally count due to the new low and then the rally to green made it a new "Day 1". We have inflation data today (PPI) & tomorrow (CPI). Those are very important numbers. We need a drop in core levels year over year for a sustained move up, imho.
Oil & product demand numbers yesterday were strong as usual: four week moving averages for demand was up about 5% year over year in most products and the total. No drop off at all.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
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