Thinking out loud about the $NYSI upswing and $AMD — 11/01/2023

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.

11/01/2023 — BEFORE THE FED…

As anticipated in this post — When the NYMO warns the NYSI could turn and take the market with it… — a couple of day ago, the NYSI turned up yesterday giving a buy signal for today’s open.

And for a FED day at that, which makes everything dicey until the FED is done with whatever it’s going to do.

So what’s happened with this NYSI buy signal so far?

Well, the major indexes are all up…all of the ten 3x-leveraged ETFs I follow are up since the open…eight of the ten big-cap tech stocks in the FANG index and its ETF (FNGU) — AAPL, MSFT, META, etc. — are up since the open.