CGTS MONDAY:CGTS INSTRUMENT ROOM HAS RESISTED THE CHAOS NICELY, STILL BULLISH
CGTS Algo Trading System
CGTS MONDAY:CGTS INSTRUMENT ROOM HAS RESISTED THE CHAOS NICELY, STILL BULLISH
May 24, 2021 9:55 PM ET
Closely-watched:
I have been pleased with our system holding steady through all the selling in May. Our Instrument Panel has held steady and resisted MANY calls in the $Press for panic.
We have been advocating QS, QUANTUMSCAPE, since it was trading over $100. We suggested waiting. We are still waiting. We thought we might find support @ 19.9. But if you look at RED MOMO, we won't see a bottom until MOMO bottoms ABOVE the earlier bottom.
What does that mean?
This is a RED MOMO TRADING BOTTOM: MOMO bottoms, turns back up, at a higher level than it did the last time.
This is not a RED MOMO trading bottom: MOMO tops, turns down again, at a lower level than the one before.
Anyway. some more stocks we are watching: NFLX.
BYND, BEYOND MEAT, which jumped 10% today. Look how it sank to 108.4 support and then jumped up. And look how ORANGE UTIMA is jumping back toward ZERO with the price jump.
GBTC, which rallied back a bit today. 30.16 is holding at the moment. Note how COUNT3 (blue, bottom pane) moved up to C3=2, TRADING SELL, just when a tired GBTC began to correct in FEB.
NFLX. Don't believe NFLX is going down for the count.
PLUG. Watch MOMO. Still negative. WAIT.
No new 3x-ETF trades. SHORT LIST from the 3x Report.
Almost all good. And almost a non-day in terms of COUNT1 SPIN change.
ULTIMA continues to resist the BULL. 5 of 6 indicators BULLISH.
CROSSOVERS, bullish, gaining strength.
CROSSOVER TRADE
UP 25.34% in this LONG TRADE, begun 10/2/20.
DATA
3x_M2F_ALT_PLAIN_PORTFOLIO_5_24_21.xlsx
COUNT3. WE have developed and tested trading systems for COUNT1 SPIN. COUNT3 is relatively new.
REMEMBER, C3=1, BUY, C3=2, SELL. C3=3, SHORSELL. C3=4, SHORT COVER.
LAZR. NOTE, MOMO has bottomed.
C3=1. MOMO is ok and should make a higher low soon.
AMC. I would not trade it because of the imbalances caused by SOCIAL MEDIA hysteria However, it looks poised to rally here.
AHT, already 1/2 through its rally here. WAIT.
SPCE, VIRGIN GALACTIC, our old friend. A nice flight over the weekend; a nice rally today, 28%. Still, however, we would wait. COUNT3 flipped from C3=3 to ZERO back to C3=3; MOMO is questionable.
LABU, MOMO says it is going lower.
BCH-USD. Heading lower. Even against a weak dollar.
IS this a TBT top?
Is US DOLLAR support breaking?
HEADLINE NEWS
Bob Dylan turns 80.
Could it be that many black women were not qualified to work as investment bankers?
MJC, CGTS
Disclosure: I am/we are long C watched List.
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