To The Moon

Look out for the Great December Sale!

We are almost at the end of November. How fast time flies! The December holidays loom ahead and along with it comes the traditional sales and discounts. In fact, that has already started on Nov 25.

The markets have rumbled on nicely rallying nicely off the October lows. Are they offering good discounts? Depends on your perspective and time frames (yada yada). Depending on thesector and compared to a year ago or even a few months back, many stocks are still very much discounted off their highs. However in view of macroeconomics and technical charts, the markets do look rather stretched in my opinion. I mean we have gone off on a good rally since the October lows. So lets be realistic here. Markets do not go up in a straight line. And we are rallying right into very strong resistance in the form of the 200 daily averages and the long term downtrend line. Those are not resistances you take out easily. And considering we are in what looks like a topping off leadingdiagonal wave 1 pattern, it will take an awesome super duper catalyst to induce an extension of the wave beyond that super duper resistance. So I do have my concerns. Hence the cautious stance here.

However, I am still adopting a bullish stance looking forward. I am expecting a wave 2 pull back (bullish count) which I see as an awesomeopportunity to load up to ride the wave 3 rally which I believe will be powerful enough to take out the heavy resistance ahead.

However still, I always look at price actions at important levels so decisions will change accordingly hence my almost daily commentaries.

As of now I am cautious and believe better buying opportunities are ahead. And I am reserving buying firepower for stocks such as

1. $NVIDIA Corp(NVDA)$ 

2. $AMD(AMD)$ 

3. $Taiwan Semiconductor Manufacturing(TSM)$ 

I am rather reserved on $Tesla Motors(TSLA)$  and $Apple(AAPL)$  although they do present fantastic opportunities being well run well managed companies under good leadership.

Thanks for reading!