Ha! I did look at it today and saw it was up.
Posted on: May 22, 2019 at 18:58:00 CT
scif MU
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I thought, "Oh, I should buy it." I started checking again during the last 35 minutes or so of the session, when I typically buy. It was going down steadily, and it fell back below the upper Bollinger band. Plus, I was concerned it was forming a shooting star candle (although it ended up not falling far enough to form one). I think it is over 50/50 to go up, but unclear enough for me that I didn't initiate the position. Had it not fallen so much into the close, I would have pulled the trigger.
I'm really cautious right now. I'm about 75% to 80% in cash. Most sectors that are not defensive are hanging out below the 200 day moving average. Until the risk reward changes, I'll be far under weight. Either we will go up more and I'll buy, or we will go down more and I'll buy. I think we are in no man's land, so I'll just dabble. I did buy some TWTR today, hoping for a move to $40 or higher.