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06/15/2017 Live Update

Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 1:12 pm

SQQQ the 3x SHORT QQQ, is failing at the double top
Do they have enough energy to try again?
I don’t know
I can’t count on it; I need proof
615sqqq.png.png
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 1:41 pm

BIG FIVE on the day
Not much red selling volume; check the volume EOD
615big five day.png.png
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 1:56 pm

ALMANAC REFRESHER:
Triple-Witching Friday: up nine of the last fourteen years, but weaker over the past 24 years, up thirteen, down eleven with an average loss of 0.24%.
The week after Triple-Witching Day is horrendous.
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Re: 06/15/2017 Live Update

Postby Cobra » Thu Jun 15, 2017 1:58 pm

should be another push up then we'll see.
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 2:04 pm

“Trump Preparing Executive Order On Drug Prices; Spec Pharma Stocks Slide To One Month Lows”
[JUICED Biotech is LABD, LABU; both horrendously volatile]
http://www.zerohedge.com/news/2017-06-1 ... month-lows
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Re: 06/15/2017 Live Update

Postby fehro » Thu Jun 15, 2017 2:15 pm

Al_Dente wrote:“Trump Preparing Executive Order On Drug Prices; Spec Pharma Stocks Slide To One Month Lows”
[JUICED Biotech is LABD, LABU; both horrendously volatile]
http://www.zerohedge.com/news/2017-06-1 ... month-lows



fwiw .. "possible" bearish rising wedge on IBB weekly.. mind the daily cyan channel break
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Re: 06/15/2017 Live Update

Postby Cobra » Thu Jun 15, 2017 2:22 pm

3rd push up as expected. let's see how strong it is first.
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Re: 06/15/2017 Live Update

Postby Wallstreetrader » Thu Jun 15, 2017 2:37 pm

2435 with gap close in extension ?
Bull Market No dought !
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 2:48 pm

Refresher:
Vertical gray lines and gray boxes roughly mark the RATE HIKE days
(ignore the first gray line at the far left… that’s the election)
Daily
615hike.png.png
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 3:00 pm

HAPPY HOUR
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Re: 06/15/2017 Live Update

Postby te_fern » Thu Jun 15, 2017 3:07 pm

What was the ole wall street saying about go away after 3 rate hikes.....
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Re: 06/15/2017 Live Update

Postby te_fern » Thu Jun 15, 2017 3:08 pm

Both ticks crossed their moving average lines about 1:00.... Crazy market.
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Re: 06/15/2017 Live Update

Postby superxy » Thu Jun 15, 2017 3:34 pm

bears dead again surely


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Re: 06/15/2017 Live Update

Postby Daniel » Thu Jun 15, 2017 3:34 pm

fehro wrote:
Al_Dente wrote:“Trump Preparing Executive Order On Drug Prices; Spec Pharma Stocks Slide To One Month Lows”

fwiw .. "possible" bearish rising wedge on IBB weekly.. mind daily channel break

IBB yesterday closed as a green Elder bar-- and at the lows today went red, and now is again blue (ca.293.30--50)
Many use this Larry Elder bar-code system to filter and fine tune short and long entries.
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Re: 06/15/2017 Live Update

Postby Daniel » Thu Jun 15, 2017 3:37 pm

te_fern wrote:What was the ole wall street saying about go away after 3 rate hikes?

"Three steps and a stumble." It may have been early technican Edson Gould...
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Re: 06/15/2017 Live Update

Postby Al_Dente » Thu Jun 15, 2017 3:44 pm

“The cheapest options on the board are slightly downside puts in Facebook, Amazon, Netflix, and Google.
There’s no skew.
Implieds are low.
The market is giving you free convexity, practically.
If one of these names has a 10% blowup, it’s a big winner.
It also has the advantage of being the dumbest trade imaginable. If you went on CNBC and said you were buying puts on FANG, you would get laughed off the set.
Which means it’s probably the right trade.”
http://www.zerohedge.com/news/2017-06-1 ... -fang-puts
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Re: 06/15/2017 Live Update

Postby Cobra » Thu Jun 15, 2017 3:44 pm

pullback as expected. now might be not enough time for the 4th push up which should happen.
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Re: 06/15/2017 Live Update

Postby Daniel » Thu Jun 15, 2017 3:45 pm

Coming into the close, only two of the key indexes (IWM, XLB) are below daily VWAP.
XLF and TLT are right at it.
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Re: 06/15/2017 Live Update

Postby Cobra » Thu Jun 15, 2017 3:51 pm


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Re: 06/15/2017 Live Update

Postby Cobra » Thu Jun 15, 2017 3:53 pm

well, guess that's it for today. Friday tomorrow has generally been bull friendly. thank you guys, I'll see you tomorrow.

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