So is this the end, my friends? — 11/09/2023

The stock market either goes up or goes down, taking its stocks and ETFs with it. And yet It is amazing how difficult it is to recognize that simplicity.

THE 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.

Most stocks and ETFs move with the market.

Simple as that.

11/09/2023 — AFTER THE CLOSE

Last Thursday, everything was up — I wrote this post: NYMO up! NYSI up! ETFs up! Stocks…aw, shucks just say Everything’s up!

Forty-nine of the stocks on the Nifty50StockList were on buys with 39 of those overbought. It takes a while to slow that momentum but that much of anything in the market is not sustainable. At least not in the short term.

In that post I did express a cautionary note for all those long with big profits, saying:

It will not surprise me if Friday has a pull back. Profit taking because there are a lot of profits to be taken. Some backing and filling. And if the day is more of a stall than a slide…