Unbridled Optimism, Irrational exuberance, wild speculation
The NQ is stuck. how many times can you hit new ATH price in 2 days? 5? 10? 20? I watched Sam Zell, Billionaire Investor on CNBC this morning saying what myself and a few others say in the room.
While Retail traders use their stimulus checks gambling in the market, like the cocaine monkey hitting the cocaine button and ignoring food and water till they drop dead this market NEEDS to correct.
Is buying the dips a real speculation trade when we drop from 13,686 to 13,683? Nobody knows what will happen in any given moment in the Markets, and yet in the room 90% of Traders are predicting
what will happen in complex patterns, for example, "we will dip to NN,NNN and they go up". how could they possibly know in this market? We are in a crazy, irrational bubble..
Having said that I do think there is a good chance we get a "Turnaround Tuesday", we defiantly need to get an UP and down cycle going again... Hey it may not happen, there is a 50/50% chance it will.
It's just what makes sense.
While Retail traders use their stimulus checks gambling in the market, like the cocaine monkey hitting the cocaine button and ignoring food and water till they drop dead this market NEEDS to correct.
Is buying the dips a real speculation trade when we drop from 13,686 to 13,683? Nobody knows what will happen in any given moment in the Markets, and yet in the room 90% of Traders are predicting
what will happen in complex patterns, for example, "we will dip to NN,NNN and they go up". how could they possibly know in this market? We are in a crazy, irrational bubble..
Having said that I do think there is a good chance we get a "Turnaround Tuesday", we defiantly need to get an UP and down cycle going again... Hey it may not happen, there is a 50/50% chance it will.
It's just what makes sense.
Please check out Kauai Dave Pivot Traders on youtube. www.youtube.com/channel/UCNpY7S_s1cxw0cer4PyEEMQ