3:00pm
A break of 109.55 to the downside will be the trigger for the continuation of this sell off .. so far my 110.40 level has been holding very nicely but there’s obviously an inverse H&S on the 10 minute SPY over the last 4 days.
2:50am
The market his my target of 110.40 on the SPY… this is the 38.2% retracement of the move lower thus far. While this would be the place where i’d feel comfortable to short, yesterday’s performance was a little too bullish to go confidently short, I would like to see an intra day reversal first or a break of the wedge formations formed by the last 2 days of trading in financials (XLF, GS , etc…). You can take some SDS with a stop 0.4% out… or short SPY 110.40 with a stop slightly above yesterday’s highs maybe 110.65.
Cup and handle … market will push to the upside
..can be…weak gap up to 110.50 …..in order to drop again..
..anyway I am still holding my short position with 5% profits…
Fibonacci are magnets…SPY will not stay in the middle of nowhere…probably 23.6% again
uau….I love those doji….
—— OTEX —— took a couple more short term PUTS $40 FEB here. like this
action better than V
—— SPY 111 —– got them too as a hedge against my
SHORT TERM PUTS
How much how many rich, they were cheapos this am when market did south
headfake!!!
I suspect they will BS some crap numbers for employ to kick start market hi.
only to cover my short term PUTS … my FEB and MARCH
paid $1.13 each * 8 not cheap.
the close means more to me than intraday.
the V close was yelling at me to go long so at least i
bailed on my PUTS. everything is looking good in my
PUTFOLIO but this is just in case we really rip on
the jobs report.
not everything. OTEX will deliver me some pain
LOL
wife used to force me to buy kotex for her just so i could live with humiliation.
CSCO beat by $.05 up about 1.25% as of now. V beat by $.11 and is up about 2% as of now.
— NDN — crushed. it this breaks out above $14.50 on volume … look out. take a look at the weekly chart. all indicators said this was explosive and i set my buy order last night and got my shares first thing. held the key level $13.25 all day under selling pressure.
the high for this issue is $15 going back to 2007 …. the low $6 . open road above $15 if this sees some exciting volume tomorrow .. who knows. trading $13.90 AH. look at the move on the weekly chart back in JUNE. this issue went up 35% in a week.
BTW
shout out to richard, thanx for the posts. Specially the ones where you admit
wrong and take action to correct.
No one is perfect and you remind me of that and keep my attitude in check.
GLTA
Richard, you feeling better ? Healthy again ?
is V and CSCO good short? I know they posted better than expected but we seen what happened to MSFT and AMZN!
I think csco is going higher…just my opinion though….didn’t have as much of a run up into earnings like the others..also, looks like the $$$ may be going higher and money may rotate into the nas.
24 is resistance though
Hi Guys,
Just sold my SPY PUTs (nice 17% profit). SPY gap down exactly 50% Fibonacci. Current waiting for the correct time to go long.
I will keep you posted