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Laughing out loud as MEME insanity returns to market — 05/13/2024
THE SIMPLE 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, and the best indicators of market direction.
Most stocks move best with the market.
Simple as that.
5/13/2024 — End of the day…
You know what I’m talking about, what everyone was talking about today?
GME and AMC.
Ah, yes, the madness of crowds, the stocks of extraordinary popular delusions.
Charles MacKay’s groundbreaking examination of a staggering variety of popular delusions, crazes and mass follies is presented here in full with no abridgements.
The text concentrates on a wide variety of phenomena which had occurred over the centuries prior to this book’s publication in 1841. Mackay begins by examining various economic bubbles, such as the infamous…