noob wrote:Hi Cobra, sorry for being stupid, but won't count on which side? Thx.
Cobra wrote:little trend line here, I won't count on it.
I won't count on that trend line as resistance, but it worked.
I usually don't read much on trend line as resistance or support.
what about trendlines and fibo? Would that be a good combo for support/resistance?
thanks.
multiple fib might work because it's horizontal lines. Don't tell Uempel that I said I don't trust trend line, I know he's not here right now, so I said I don't trust trend line. The reason is trend line as resistance/support is not easily seen by all traders, so they don't act together while horizontal lines are mostly watched so people would act on that therefore it has some resistance/support effect.
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bears are going to run out of time breaking this down...making it seem more of a basing pattern then consolidation. let's have a big break in the last 10 minutes. -_-
a little breakdown, but not enough to count, let's wait.
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Cobra wrote:I'm really scared to say this because we've got enough lessons of sharp intraday reversal recently, but, hey, this still looks like a continuation pattern, so a breakdown is a little ... more likely.
Cobra, what is the rule for your mechanical system to close TZA position (or other position such as TNA)? I have been following with 2% of my portfolio and it seems working fine. Thanks.
stucap wrote:For any of you trading equity and who like to snip a quick dividend---buy a little WYNN today....
Wynn Resorts $5 dividend will be paid Dec. 21 to shareholders of record as of Nov. 23.
But surely this is not baked into today's price? There's potential for a massive sell off afterhours on the 23rd or gap down on the 24th.
buy weekly puts for hedge
IMHO WYNN has done nothing but go down since they announced the special dividend so i'm willing to take a little risk here. It's not a big enough position to buy puts on.......
A massive gap down would assure that we are in wave 3 of 3 at which point you do not want to be long for scalps. Cobra what is your general observation of traders on this board. My favorites are Fehro and Dow Trader.