Market After The Close, Wednesday 18 December

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Jerome Drops The I-Bomb

by Alex King, CEO, Cestrian Capital Research, Inc

How you know if you have succeeded in your quest to be dead-inside as regards investing and trading is, how do you feel right now after today's shock-a-thon? Are you (a) elated at the short gains you made (b) depressed at the long pain you took or (c) comfortably numb? If (a) or (b), you need to go have a word with yourself. Not because of your trading success or errors, but because you are still too emotional. If you hedged into today and you're whooping it up now, your risk is you let those short gains evaporate because you don't cash them in time. If you went Green Beret long into today and you're berating your idiocy, you probably won't buy the Fedding dip when you should. And if you went to play golf and wish you had been at the screen wielding orders all day ... you're probably better off playing more golf.

Personally I left my core positions naked long into today; I have been scalping all manner of speculative stuff in recent weeks (TSLA, SMST, UBER, MBLY, bunch of stuff we don't cover here) and was out of most all of that as of yesterday's close. I have stops under my $IBIT position, and frankly I was surprised they didn't trigger. I had a conditional buy order set for $UDOW which was due to trigger if the Dow dropped into the Wave 4 buy zone highlighted below; it triggered; I added more UDOW after Powellmaggeddon, and I set a conditional sell order for my UDOW position which will trigger if the Dow continues to echo the Jimmy Carter years. Oh and because NVDA was green for most of the time after Mr Powell spoke, I figured NVDA was setting up strong so I added to my $NVDL position. All of this was disclosed, as always, before the trades were placed, in our Inner Circle service.

Here's how I feel about all this:

" ... "

Just playing Atari Pong still.

I didn't listen to the Powell speech because, why does it matter? Everything you need to know is already in the stock charts. Price-setting investors and market-makers transmit all the data that is needed, in real time, direct to your screen. All you need to do is learn how to read it and use it, free from emotion, free from ambition, free from greed or fear, just playing Atari Pong.

The value in these daily market notes is that you can use the charts we post here to set up your investments and trades, on most any timeframe you choose, with targets and risk management levels. These are the charts I use personally and so far they have served me pretty well, to the upside and to the downside. Long may it continue.

So let’s get to work. But before we do, it would be rude not to ask you to join our tippermost-toppermost subscription service, Cestrian Inner Circle. Click here. Independent Investor and Investment Professional pricing tiers available.

Short- And Medium-Term Market Analysis

Don’t forget that to open full page versions of any of the charts below you can just click on the underlined header which titles each chart - they are all hyperlinks.