I hear ya. And yes I do this for real. One thing I've noticed over the years is that when i make a salient point based on experience, it gets ignored. Dopes are determined to stay dumb.
I'm not here to validate mr drachma. But I've traded for a living for a long time, and every trade began with a chart.
There's no empiricism here. It's always a risk. But when you add to miners on weakness, you're hoping other traders do likewise. Otherwise, you're screwed. A chart is a good map to tell you when low is low enough.
Buying weakness and selling strength is what support and resistance trading is all about. You claim to do it all the time. Charts only help qualify the timing.
Fair enough. I don't pretend to know what comes next. But there's rot in the structure. All of our bullish trades at these heights have to be taken with that in mind.
Other than trying to catch a bounce, why are you bullish exactly? A world of uncertainty after seven years of vertical prices doesn't seem like a good entry point.
It's not strange. The failure of Vix to adequately reflect selling pressure in the market is suggestive of ongoing complacency. There's seven years of Fed conditioning here. No bottom yet.
Maybe I'm a rube, but I really don't think he uses more than one. The rest are acolytes.
Seems like a spike in daily vix along with some real fear selling played itself out for now. Could be a ST bottom but i'm not trading it. I've noticed gap fills have become much more elusive over the years as they've gained in popularity. Btw, there's a big unfilled breakaway Dow gap at 2500 from 1991!
I'm out of the aves, but have big short positions in some individual issues that became absurdly extended. Tom Petty trades...waiting is the hardest part.