The Flipper, 29 Mar 2023
🖼 Daily Technical Picture 📈
➤ Another low volatility day. Equity prices recovered to finish where it started the day. For me it meant flipping my short position to being long/buy.
➤ "The Flipper" in Cricket is a bowling action made famous by the legend leg spinner Shane Warne...may he rest in peace. It's a normal looking spinning delivery but actually just skids on straight with extra pace. It often leads to the Batters' demise as he/she is completely fooled.
➤ In a way, the recent price action in equities is like that. With all the fearmongering, banking crisis, etc etc...the market has hardly budged. What was lost was recovered. VIX also didn't shoot up aggressively and has completely collapsed once again.
➤ Will it continue? Is the market too complacent? You should know my answer to that...I really don't care all that much although it is interesting listening to all the arguments.
➤ I'm just trading the price action as I see it. If I'm right or wrong, make or lose money it certainly isn't because I thought about this macro factor or that. That's just not my skillset.
➤ Conclusion: A bit peeved at not being to realise a decent profit on the short...let's see what a maximum-sized long play will bring.
EQUITY TREND:
⦿ Short-term (weeks) - DOWN
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
➤ Another low volatility day. Equity prices recovered to finish where it started the day. For me it meant flipping my short position to being long/buy.
➤ "The Flipper" in Cricket is a bowling action made famous by the legend leg spinner Shane Warne...may he rest in peace. It's a normal looking spinning delivery but actually just skids on straight with extra pace. It often leads to the Batters' demise as he/she is completely fooled.
➤ In a way, the recent price action in equities is like that. With all the fearmongering, banking crisis, etc etc...the market has hardly budged. What was lost was recovered. VIX also didn't shoot up aggressively and has completely collapsed once again.
➤ Will it continue? Is the market too complacent? You should know my answer to that...I really don't care all that much although it is interesting listening to all the arguments.
➤ I'm just trading the price action as I see it. If I'm right or wrong, make or lose money it certainly isn't because I thought about this macro factor or that. That's just not my skillset.
➤ Conclusion: A bit peeved at not being to realise a decent profit on the short...let's see what a maximum-sized long play will bring.
EQUITY TREND:
⦿ Short-term (weeks) - DOWN
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
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✅ Verified Track Record 📈
Not Investment Advice
Feragatname
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