Have no doubt, SPY will do what SPY should and NEEDS to do. It's not even a debate. It's really not. Anyway, I posted a SPY update yesterday saying how the little moves dont matter. What happens in a day just becomes a blip on the chart when looking at it.
I present to you RNG. A company I know well. A company I highly recommended to aspiring entrepreneurs many, many years ago. Also one of the first stocks I bought. The setup is beyond obvious... but look what happened recently. They spiked it up on an earnings. If you were on a 1 hour or 4 hour chart (or god help those kids using 1 minute time frames) day trading, this bugged you out because oh my god.. this thing is going to 800 bucks.. or whatever ridiculous number your mind came up with and you were probably short the stock. Look what happened though. It only presented a better short opportunity to get back in or add on.
Anyway.. I will keep this short...like I said yesterday. If you are using moving averages, MacD, all that garbage on your charts, you have no idea what you are doing. Go read some of Thomas Bulkowski' books. It will change the way you see charts from delusional to knowing what is really going on. Of course there are still other tricks to go along with this, which sorry I am not saying, but reading those books will probably be such a tremendous game changer for you.
Anyway.. that's my rant for today.
I present to you RNG. A company I know well. A company I highly recommended to aspiring entrepreneurs many, many years ago. Also one of the first stocks I bought. The setup is beyond obvious... but look what happened recently. They spiked it up on an earnings. If you were on a 1 hour or 4 hour chart (or god help those kids using 1 minute time frames) day trading, this bugged you out because oh my god.. this thing is going to 800 bucks.. or whatever ridiculous number your mind came up with and you were probably short the stock. Look what happened though. It only presented a better short opportunity to get back in or add on.
Anyway.. I will keep this short...like I said yesterday. If you are using moving averages, MacD, all that garbage on your charts, you have no idea what you are doing. Go read some of Thomas Bulkowski' books. It will change the way you see charts from delusional to knowing what is really going on. Of course there are still other tricks to go along with this, which sorry I am not saying, but reading those books will probably be such a tremendous game changer for you.
Anyway.. that's my rant for today.
