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Short Term Trading Weekend Lounge: 19-21 Jan, page-141

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prowiz

7,708 Posts.

558

22/01/18

10:01

Post #: 30457624
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Originally posted by tradesurfer ↑

Something to think about as this has been without doubt the best Spec run i have witnessed since being full time and my thoughts are we will see 1 of the nastiest corrections to follow up... I believe this tax selling is going to be nasty and start very early and im already decreasing capital atm in positions.. This spec boom has changed my life and my families life so im no get rich greedy bugger im a realist and believe when things are to easy to good to be true they generally are...

(Why) do i think its a top? No .... Do i think the specs are going to stop firing up no.... But i always like to try think ahead and whats likely to happen to my capital if i dont protect it .... Its 1 thing to have made big money but its another thing to keep it and im 100% sure most will give alot back and than start fighting the market to get the losses back...

Not sure if others are noticing even tho the specs have been insane selling pressure in the new year is increasing along with high volume.....

Just keep this in the back of your mind we are trading in the dog pound full off 99.9% hyped up spec pumps that are fuelled by FOMO garbage anns that will just about never eventuate....Now being on the right side on the pump is 1 thing but getting trapped on the wrong side is another and happens fast and nasty.... Look at the history of spec pumps and some of the best pumps and where they end dont get me wrong a few go on but if you invested LT into 100 asx specs how many would make it after a few years and how many would you be deep red in........... With capital wasted.....

Im still waiting to go on holidays lol as i wont leave the market until Mr market tells me 2 which is not yet and even tho we have seen a small correction on the ASX overall conditions are still positive and money flow is still high for liquidity... Just remember when the big players leave the specs again liquidity will dry up and it will just be recs fighting each other to get out like we seen for months last year....

Alot of people are going to loose alot of money following these pump stocks just be wary of why they get mentioned soooooo many times i mean if you are sooo bullish on a stock do u need to mention it everyday/every pip multiple times over social media? Too many used car salesman about atm using anything they can to get there stocks pumping... Just remember all the director hype of the years and where there stocks ended up as well overtime...........

Anyways snapper-burli been off its head swell dropped today but what a week 3-5ft SE classice summer banks on all points until now sand gone ...

ENjoy all

TS

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As someone who has been trading full time since 2004, I can assure you that the 2003-2007 bull market was much much larger and stronger than what we have seen so far. The XSO chart below shows a total of 7 powerful advances with 5 shallower retracements and one very aggressive retracement before the ultimate high in 07. In comparison the current run in the XSO has only 2 strong advances to show with one shallower correction which lasted several months. Even the run up from the 08 lows in to 2011 was stronger than now showing 3 strong advances and 2 shallower pullbacks....

for example the lithium/cobalt/medical cannabis bull run of today pales in comparison to the Iron ore, Oil/Gas, uranium, copper/base metals and coal booms of 03-07.
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