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rockfish wrote:Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????
Buckethead wrote:There are too many whores looking for a year end rally.
and Doug Kass is their leader
rockfish wrote:Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????
Depends on how you do it. By your own words, this market is gaseous - floating up on light volume and holiday good cheer. Meanwhile, Lucifer is sitting behind the tree, ready to squash all that good yuletide cheer, once enough suckers have piled back into the market, "'cuz everything's ok, again." ...NOT. I buy cheap, long-term puts on etfs, and day-trade high probability tech signals for fun money. Lots of luck involved, I'm sure, but I'm up over 130% so far this year on my trades.Buckethead wrote:shorting on a light volume friday in december isn't wise.
jarbo456 wrote:this market is a tough nut to crack. really doesn't want to break down.
Cobra wrote:some resistance here. the bigger picture, yesterday's low still likely be revisited, no change the plan.
next couple of days assuming we close high of the day today. again, it's all about odds, sometimes there're exceptions. I think the best trade for now is sideline.ken d wrote:Cobra wrote:some resistance here. the bigger picture, yesterday's low still likely be revisited, no change the plan.
time period for revisit? couple of days or a couple of weeks?
Buckethead wrote:There are too many whores looking for a year end rally.
and Doug Kass is their leader
rockfish wrote:Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????
i was refering to today's daytradingAnaconda wrote:Depends on how you do it. By your own words, this market is gaseous - floating up on light volume and holiday good cheer. Meanwhile, Lucifer is sitting behind the tree, ready to squash all that good yuletide cheer, once enough suckers have piled back into the market, "'cuz everything's ok, again." ...NOT. I buy cheap, long-term puts on etfs, and day-trade high probability tech signals for fun money. Lots of luck involved, I'm sure, but I'm up over 130% so far this year on my trades.Buckethead wrote:shorting on a light volume friday in december isn't wise.
jarbo456 wrote:this market is a tough nut to crack. really doesn't want to break down.
GL to you, whatever your system.
A
Me XMan wrote:Holding long and short SPY for Monday gap-up or gap-down play.
I know, I look at each individual differently. some people charting gold to trade spy, not me.Al_Dente wrote:PAGING Baron von Baron
One other thing I want you to consider on my internals view. Few days ago u mentioned that TNX was crossing VIX on the 1 min and that maybe was significant. I WANT TO DISCOURAGE YOU FROM THINKING THAT WAY.
Here’s why, using A/D as example first:
NYADV and NYDEC are exact opposites (forget unchanged for this discussion). In other words, if NYADV the advancers are going up, the NYDEC decliners HAVE TO BE GOING DOWN. They are kinda like a mirror image, I call it a Rorschach like the old ink-blot test. So a crossover of NYADV and NYDEC is often quite significant, and often accompanied by whipsaws.
TNX and VIX have no such relationship, they move however they choose, and a crossover does not have the same meaning, as they are not “joined at the hip” like the a/d.
More later
PS: best reason to sell here is not to have to hold over the weekend, nyadv 2570 = still bull