RE:RE:Back, Observations etc.Morning Crete, not sleeping well much so not a lot of attention span, just enough strangely to take our dear Shenty to task again last week, lol.
Thinking to start a betting fund on whether Shenty is a he or a she, lol.
Love when I'm wrong as in Friday's decision to sell my swing trade, no regrets made money, and my core value has for now grown by 1 1/2% this morning. Sold a few of those this morning as I really have too many, still have 72K and all in decent green (avg 2.25) worked down by swing trade profits from 3.80 and various price point additions.
On my one year chart it appears we have stopped this morning exactly to the penny at 3.59 on downside resistance from June/August 2017, and June/September 2018, now today June 2021. Go figure the charts if detailed enough rarely lie at least on traditional stocks anyway.
I suggested a stock charting service as a useful tool because once you build multiple charts which you can save and maintain you can continue to annonate them and extend trendlines out from past historicals, comparing the trendlines and confirming various hurdles of resistance or areas of support. Extremely useful IMO. I tried in past old days to snapshot and post a saved chart as example, unfortunately it would post the chart but not all the trendlines. Guess Stockcharts has some software that precludes attempting to detail save charts outside their site.
My longest time friend and trading partner have over 250 charts saved that continue to update (minus extending trendlines) many commodities etc. on various time frames including gas, oil, gold, the TSX etc. and then various ETF's, both sides primarily NG and WTI as back in the day 7-9 years ago we traded ETF's extensively when the Stockhouse Horizon HNU/HND boards were very active filled with characters and many great contributors a handful of which for me became our trading group still active in exchanging info at times on a larger scale today.
Lot of rambling here and I ask this board excuse me for it, but as a veteran of Stockhouse since 06 alot of water under the bridge and my posting is cyclical at best and only when I'm enjoying a board and some who are in it.
There was a period where I used to trade some banking options mostly, overall more wins than losses but it was just too slow moving. I found since I have the time the last few years being retired that I could in theory make much more money using a portion of capital in swing trades versus waiting to excecise an option. Personal preference I guess but always felt if I'm going to gamble then get into it full bore and trade both sides of commodity ETF's for the 2X reward.
That was sometimes the rolaid days, you could be absolutely trading the right side of it and still lose thx to fund management erosion if the target price did not happen within the expected time frame. Lot of gambling fun overall once you learnt how to minimize getting burnt a few times, but completely hands on required, had some huge wins and some huge losses, thx to that game. Still trade NG/Oil ETF's once in a while when it's too obvious (Like WTI HOU up the past few weeks) and the charts are working, seasonal though, and for this you need all the tools, complete set of fundy's, weather reference, graphical reference, for example the NE US heating triangle, southern cooling areas, rig counts, storage reports, etc. etc. etc., a lot of it learnt the hard way lol.
A full time job and there's just more to life than that most might agree. So the story remains the same formula, greed and denial (yes I can still be guilty as with BIR lol), set a target, if achieved sell, take profit and start again.
All good, next push on a 1 year chart (cnfirmed on 3/5 year charts, sees breaking the 3.59 resistance on volume and if so rising resistance currently around 3.85 to about 4.20 with timing (go figure) right artound next quarterly report time, (yep really). Current 1 year support still down around 3.25.
Good luck good time invested usually yield good returns. Gotta move a little now then have a rest, I'm even annoyed at my own B-S, lol, cheers.