Thursday Market Thoughts in Point Form:
We need to get above the 50 week MA as soon as humanly possible. For the entirety of the bull market it's acted as a great line in the sand for the bull market. It also works well to show us when the trend is breaking - which it currently is on the verge of potentially doing.
A lot of people arguing on the timeline if we got euphoria this cycle. Listen, if you have to debate about whether we got euphoria.. There was no euphoria.
Trade less. Seeing many things pump at random.. but there's no edge in these. Wait for obvious opportunities e.g. UNI, ASTER, 4, AERO. The rest is noise. Speaking to myself especially... We all fall victim to it.
Now more than ever, use risk management. Stop loss, Downsize.
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