As much as $AMC makes me laugh I gotta admit…(08/29/30)

THE SIMPLE SWING TRADING STRATEGY

Short-term swing trading: When the NYMO turns up, it is time to buy stocks on the next open. When the NYMO turns down it is time to sell stocks on the next open.

Longer-term swing trading: When the NYSI turns up it is time to buy stocks on the next open. When the NYSI turns down, it is time to go to cash or to go short on the next open.

The NYMO and NYSI are both derived from the McClellan Oscillator. They are to my mind the best measures of stock market mass psychology, measuring the swings from fear to greed and back again, the best indicators of market direction, and the easiest to read.

When the NYMO and NYSI rise, it is time to buy stocks, ETFs, calls, futures.

08/29/23 — During the day…

The NYSI is possibly turning up today after a 19-day down swing that has wreaked havoc on a great many stocks but maybe none more so than AMC.

The stock is down 73% since the NYSI sell on the open of 8/3. It’s like Coyote running off the cliff in the Roadrunner cartoons.

I’ve been laughing (an braying) at this ever since the boys at WallStreetBets began screaming this was not a stock as much as it was a moonshot.

See the Barbie post for some of that.

It’s been dead on the launching pad for quite a while but now it looks like it is heading to really…