Monday 22 November 2021
The Weight of Evidence from the market breadth measures had a number of negative changes last week moving the overall weighting back to a Neutral / Difficult Environment which suggests Caution. However, short term measures are close to lower extremes, so on alert for change.
$IWM Small Caps attempting to bounce, but a lot of carnage in individual stocks. So personally I'm just monitoring my open positions for the time being of which I'm about 35% invested in the position trade account. 100% cash in the swing account and 76% invested in the pension account.
Another leading stock $ASAN starting to breakdown from its recent range while the market makes new highs.
Not a healthy looking tape. Indexes and sector etfs up. Individual stock carnage. Caution.
Great example of the "The Tape Tells All" today, which was the subheading of Stan Weinstein's Professional Tape Reader newsletter in the 1980s (attached is an excerpt from the New York Times article Nov. 20, 1983.
It didn't get any better towards the close with large players selling in the final 30 mins across the board.
I decided to close out of my position trades today to take that account to cash in the short term.
SNOW 25.02%
ZS 24.02%
TTD 18.10%
SHOP 7.96%
CPRI -0.04%
ABNB -2.80%
DASH -9.80%
OKTA -11.77%
No changes in my pension account, as is much longer term. So that's still 76% invested
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.