35 replies to this topic

[Mr Dev]

seeing the RUT down almost -4.50% this week and its only Thursday furthers my concern for a Crash Warning ..which we are on. with the MoMo back kissing yesterday at the door of its Extreme Bearish Zone (as the markets did at key support levels) is a negative set up as it will propel itself today over the threshold into what is the worst time for stock prices. lets allow it to play thru on a daily basis and then when it does exit.. we can think about less of a short position or buying the strong while shorting the weak. BE PATIENT AND TRADE SAFE MY FRIENDS .

Edited by Mr Dev, 10 July 2014 - 09:17 AM.

[TTrader47]

Good call! I thought we would continue to break down after the Fed, but that was short lived. I was doing a play off volatility so I ended the day sideways. Will add more to any pop in the morning.

What a crazy way to start the day. I don't remember the last time we gaped down that much. UVXY was nice to wake up to this morning. Looking to add more on this pop. SPY retraced .382 from the high of yesterday... Looking for new lows...

playing with uVXY @ 25 .00 for 1500 shares, lets see how it works

I sure hope you didn't exit this too soon...

[draggen33]

Good call! I thought we would continue to break down after the Fed, but that was short lived. I was doing a play off volatility so I ended the day sideways. Will add more to any pop in the morning.

What a crazy way to start the day. I don't remember the last time we gaped down that much. UVXY was nice to wake up to this morning. Looking to add more on this pop. SPY retraced .382 from the high of yesterday... Looking for new lows...

playing with uVXY @ 25 .00 for 1500 shares, lets see how it works

I sure hope you didn't exit this too soon...

out of uvxy for now booked profit of 5k, I had added shares to 3300 shares yesterday

[q4wer]

if qqq and spy close today above yesterday's high, we are done on the down side.

[Mr Dev]

there is some nice trading going on ! q4wer...dont be too distracted by the bounce so far. although the bounce in the ndx is impressive . let me remind the traders in the room..(considering the MoMo indicator's positioning ) that the US markets often recover from gaps lower in order to support euro-markets into their close. this is done to prevent excessive negative US market pressure on an already weakened european session . after european markets close, the US markets are then ALLOWED to move in a more natural direction .

Edited by Mr Dev, 10 July 2014 - 10:40 AM.

[Mr Dev]

q4wer

i will point to the RUTs recent 5 day decline from 1205 to a low of 1151 (over 50 points) this morning as somewhat nearing what would normally be an oversold condition.

some internal indicator are also sitting in this oversold territory on a short term basis. however the daily oscillators (pick one..macd etc) are no where near oversold and the VIX no

where near overbought. couple this little bit of technical information with where the MoMo is sitting and you have to conclude that the Sell Off is not finished !

if you're playing any Long stock positions as the MoMo moves into its most negative zone be careful as 20% declines can easily evolve in a day.

as a matter of fact we saw more than a few companies report negative earnings last night that are seeing -15 to-20% declines this morning.

we should be thinking more in terms of >>>IF MARKETS CAN NOT HOLD THIS MORNING LOWS WE ARE IN TROUBLE.

Trade Safe My Friends this is no time to be blindly bullish !

Edited by Mr Dev, 10 July 2014 - 10:55 AM.

[blustar]

Good call! I thought we would continue to break down after the Fed, but that was short lived. I was doing a play off volatility so I ended the day sideways. Will add more to any pop in the morning.

What a crazy way to start the day. I don't remember the last time we gaped down that much. UVXY was nice to wake up to this morning. Looking to add more on this pop. SPY retraced .382 from the high of yesterday... Looking for new lows...

playing with uVXY @ 25 .00 for 1500 shares, lets see how it works

I sure hope you didn't exit this too soon...

Last time we gaped down this much was late Jan on a Thursday. It was 22 pts then

[blustar]

It was Jan 31 and a Friday. The next day we dropped hard and 2 TD's later we bottomed on the 20 wk cycle low on TD 110. The same set up is 110 TD's for Tuesday next week, so, hmmm...could tomorrow crack hard? The A/D looks horrible!

[risk_management]

Spectacular strength.

[blustar]

Spectacular strength.

On Jan 31 we rallied back within 1 or so pt on the SPX of the previous day's close and then the next day, Monday, cracked hard, albeit, it opened up slightly first but had sold off hard at the end of the day on Friday.