So as you know I have remained of the opinion that the market bullish but we were due for a correction and we got one. Looking around ponder what the market will do going forward I came across an article that the Nasdaq and Chinese stocks have a record number of short selling. Second highest since July 2006 for Nasdaq, highest for China stocks. Here is article
www.zerohedge.com/ma...-second-highest-ever
This record short selling is bullish in my view because that means that almost everyone has already sold/shorted so there is no one left to sell/short. So the buyers are going to start to push stocks higher and the stop losses on the shorts are going to start to get hit adding to the buying. With that being said we could still potentially see some volatility.
Technicals
MACD tested 100x has a 62% accuracy rate (highest of all indicators). We got a fake out on the 4hr, and now we crossed again, but eventually we most likely won’t get faked out twice. As you know I had 3 trades open and was down all 3 FB, AAPL, MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL, plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
www.zerohedge.com/ma...-second-highest-ever
This record short selling is bullish in my view because that means that almost everyone has already sold/shorted so there is no one left to sell/short. So the buyers are going to start to push stocks higher and the stop losses on the shorts are going to start to get hit adding to the buying. With that being said we could still potentially see some volatility.
Technicals
MACD tested 100x has a 62% accuracy rate (highest of all indicators). We got a fake out on the 4hr, and now we crossed again, but eventually we most likely won’t get faked out twice. As you know I had 3 trades open and was down all 3 FB, AAPL, MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL, plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
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