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The Dragons Stock Market Challenge
In Welcome to the Forum
Jeff
May 17, 2022
well, the market has been showing some strength, and given a few days of green candles now. Powell spoke today as well, but didn't really seem to add any news to the conversation this time, so it appears for today anyway, that the market didn't react with fear. We shall see what comes, but It is nice to finally see the challenge balance going in the right direction again - UP! Spy chart above...couple things to note...while yes we have had some green candles...sellers still were there and theses candles are not strongly bullish...theres still plenty of room in this chart pattern to rise and still be in a bear pattern...so until we recapture the 50 day moving average, or break out of the upper trendline and hold it...we still very much could still see more downside and a continuation of a bear market. We aren't out of the woods yet! Current balance - 4420 +341 today. Current challenge Plays - TNA - Ive been adding shares on this hard drop, picked some up in the 30s last week, and will be continuing to add to this till I have 100 shares and can start the wheel strategy on this leveraged ETF. My Any stock position you can see the market drop has gotten this to turn red on me, however...I am still lowering my average every month by selling covered calls against my 900 shares...this is just where patience is coming in...it may take me a few months, or even 6 months, but Ill just keep the wheel turning until these go my way, as I wont sell shares at a loss unless I fundamentally believe the company is headed under...in ANYs case, I don't believe that to be the case. Fear and inflation is ruling right now...not fundamentals. Fear has its day, but bear markets dont last forever. So, holdfast.
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The Dragons Stock Market Challenge
In Welcome to the Forum
The Dragons Stock Market Challenge
In Welcome to the Forum
Jeff
May 16, 2022
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The Dragons Stock Market Challenge
In Welcome to the Forum
The Dragons Stock Market Challenge
In Welcome to the Forum
The Dragons Stock Market Challenge
In Welcome to the Forum
The Dragons Stock Market Challenge
In Welcome to the Forum
 
Jeff
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