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08/07/2014 Live Update

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Out of Bounds
Posts: 5623
Joined: Wed Feb 23, 2011 10:11 am
Location: Miami

Re: 08/07/2014 Live Update

Post by Out of Bounds »

Sold SPY - $3k loss. Dagnabbit.

Holding TMUS
...
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MrMiyagi
Posts: 10342
Joined: Sun Oct 16, 2011 12:48 pm

Post by MrMiyagi »

Out of Bounds wrote:Sold SPY - $3k loss. Dagnabbit.
Sold SSO for loss 700$. If it makes you feel better...

This means it will bounce tomorrow despite the SPX bearish engulfing candle.
Also dropped under 100sma.
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DellGriffith
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Joined: Sun Aug 25, 2013 5:24 pm

Re: 08/07/2014 Live Update

Post by DellGriffith »

Today's low finally fell below the upper bollinger band breach from back on May 27th, altho it bounced above it by the close.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
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Daniel
Posts: 3493
Joined: Fri Feb 10, 2012 4:27 pm

Re: 08/07/2014 Live Update

Post by Daniel »

Mr. BachNut wrote:The bulls are getting a little help from Gandalf at ES 1900.
ES 1900, and also the 50day MA on QQQ, ca. 94; when price went below it in the aft. session it spent very little time there.
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Royal Flush
Posts: 373
Joined: Wed Oct 17, 2012 2:56 pm

Re: 08/07/2014 Live Update

Post by Royal Flush »

DellGriffith wrote:Today's low finally fell below the upper bollinger band breach from back on May 27th, altho it bounced above it by the close.
TRIN closed at 2.01 possible bottom. Prior bottoms in green dotted lines.
sc.png
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jack black
Posts: 272
Joined: Sat Sep 08, 2012 5:27 pm

Re: 08/07/2014 Live Update

Post by jack black »

Why there is this obsession to catch a falling knife here? It started a week ago and still trying. Market went almost non-stop for over a year, we are in a bad seasonality, and there are wars raging in several countries. IMHO, the only reasonable trade is short the rebound. What if this is 1987 again?

But even I admit there should be a sizable bounce soon (I need to reload shorts).
Last edited by jack black on Thu Aug 07, 2014 7:54 pm, edited 1 time in total.
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ALdaytrade
Posts: 1244
Joined: Thu Apr 04, 2013 12:55 pm

Re: 08/07/2014 Live Update

Post by ALdaytrade »

Revised option volume at the end of the day:

Call options 194 and put options 191 with greatest volume.
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Royal Flush
Posts: 373
Joined: Wed Oct 17, 2012 2:56 pm

Re: 08/07/2014 Live Update

Post by Royal Flush »

jack black wrote:Why there is this obsession to catch a falling knife here? It started a week ago and still trying. Market went almost non-stop for over a year, we are in a bad seasonality, and there are wars raging in several countries. IMHO, the only reasonable trade is short the rebound. What if this is 1987 again?

But even I admit there should be a sizable bounce soon (I need to reload shorts).
No obsession on my part. History has shown that when TRIN exceeds a close of 2 there is a very good probability buyers start to assert themselves in a few days. Could this time be different? Yes definitely, in fact the low VIX readings and horizontal consolidation makes me think there is more downside to come ;)
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