Courtesy of Read the Ticker.
This kinda looks like an Eiffel Tower rally.
Since Nov 2016, this has been BUY the rumor of the Trump tax plan, and maybe now its SELL the fact as the good news was very much over priced. Stock strategists know taking owner ship of a stock market rally is never a good idea, as what goes up 30% can come down 100%, Trump should never put his name on this rally as he will own it in the public eyes when it goes down. Does this make the Dow Jones political with the looming 2018 mid term elections? If it does it could be very interesting in 2018.
The price action is so fake, giant fast moves higher never happened before Nov 2016, so why now, is it the HFT’s doing all the buying? Do they work just as good on the down side, maybe not. This forecast is a dead cert, 2018 will not see the CBOE VIX under 10 for the entire year.
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Its on the table …
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
…”They say you never grow poor taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market.”..
Jesse Livermore
..”Money couldn’t buy friends, but you got a better class of enemy”..
Spike Milligan
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
..”Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention and I wouldn’t under-estimate the value of that, but they’re not designed to take care of social needs”..
George Soros
..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..
Warren Buffet
