As I see it (IMO in other words :)3 Mar 2021 18:25
Yep, this could be it, the November breakout being the real deal!
- Bar one teensy-weensy thing (the bears took the ball that is the intermediate trend away - and won't give it back!) If I had that as well, I would have as near as damn it a full house, but there's enough there already to go on with.
The Long Term Trend, is now beyond debateable and beyond having to peer closely at the screen - it is clear and present angrily bullish, snorting and pawing the ground with it's hooves. Could see it developing stronger by the day, for weeks on end, as it emerged from its cocoon - but the intermediate trend wasn't - it's bearish and not weakening. However, the more further up the chain of command, the more senior the trend - the more authority it carries. Good enough if it's the Long Term Trend.
Was concerned by the scar of the price action on Q3 results day, which cast a shadow right up to last week, as the wick (intraday upper visit above the open) exceeded the open of circa 132 up to just slightly under 134. There were 2 other big bull days that I wondered might unseat the multi bearish price action days that appeared a couple of days after the Q3 reveal but they fell by the wayside
- and so I activated the insurance policy and got out.
Was mooching about this morning 'thinking' about re-entering as could have reinserted my position and pre-supposing the SP would at least rise 1 or 2p would have cost me nothing at all as if I'd never sold - but bought some gold instead.
Not a fan of general "news" (ie., budgets, stimulus package deals) as given time in most cases - as you can see from the v nasty slide from early January to early February they fall by the wayside eventually - as in, where was the Biden/vaccine/tech effect then (the Jan to Feb slide)?
If it's not specific but general to the economy I don't much alter my investing outlook - has to be directly specific to the stock I'm interested in. A dog of a stock remains a dog of a stock, even when the economy gets a shot in the arm, and vice versa with a well run company.
So, at least got one small, almost irrelevant, trend line back today, but still got another more serious one outstanding. However, I always thought the long term trend now fully turned bullish (5 year carry-on) it would over rule all junior trends; but got unseated from my horse in the process.
The newly bullish Long term trend is clearly visibility bullish now and just won't stop getting stronger and stronger.
Just wondering how the SP will dance when the budget details become old news as a stock in the grip of bearish market sentiment almost never escapes until the market sentiment lets up on it.
But make no mistake - the fact that the SP closed mightily strongly is no flash in the pan IMO.
Just as there were consequences for the giant huge price action days, going back to the Q3 - there are consequences, brand new ones now of the opposite nature going forward.
Cont . . . . > > >
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