38 replies to this topic

[TechMan]

I've just cashed in my long positions. Now I'm in cash and waiting. Both the SPX and the NDX are just a stone's throw away from the top of their multi-month range. Ideally, I'd like to see the SPX at ~2120 and the NDX at ~4550 to initiate short entries with 0.50% stops.

We'll see.





SPX (closing basis)

Edited by TechMan, 14 July 2015 - 10:56 AM.

[salam]

I've just cashed in my long positions. Now I'm in cash and waiting. Both the SPX and the NDX are just a stone's throw away from the top of their multi-month range. Ideally, I'd like to see the SPX at ~2120 and the NDX at ~4550 to initiate short entries with 0.50% stops.

We'll see.





SPX (closing basis)

My Grandma once told me, 'never short a dull market'! Vix around 13, personally, I dont see much large swings in the short term.

Volume is light...but no-one is selling.

Shorting around 2109-12 for beer money might tempt me, but I'm patiently waiting for 2127-35 to start adding again

Nice trade on the long side btw

Edited by salam, 14 July 2015 - 11:46 AM.

[TechMan]

Shorting around 2109-12 for beer money might tempt me, but I'm patiently waiting for 2127-35 to start adding again

Gettin' there...

Now I'm in cash and waiting... Ideally, I'd like to see the SPX at ~2120 and the NDX at ~4550 to initiate short entries with 0.50% stops.

[TechMan]

NDX 4536 is close enough to take a shot at it with 0.6% stop at 4563 rather than 0.5%. Good luck! Later...

[TechMan]

As long as the NDX CLV CUM remains below the 50-day SMA, downside risk remains. Today's also an NR7 day. Range expansion should be expected in the next couple of sessions.

[salam]

As long as the NDX CLV CUM remains below the 50-day SMA, downside risk remains. Today's also an NR7 day. Range expansion should be expected in the next couple of sessions.

Doji day today methinks
Market wants to test 2115-2120 then back to 2102-5 area (where I might be a buyer)
No meaningful dips being provided to enter for bulls.

Im liking the July 20th scenario, but not writing off a blow off either
Till 2040 breaks to the downside, this bull will continue snorting.
participation is mixed rather than broad. Limited uside....

I will scale in position shorts 2120-35 area, hopefully next week

[salam]

As long as the NDX CLV CUM remains below the 50-day SMA, downside risk remains. Today's also an NR7 day. Range expansion should be expected in the next couple of sessions.

Doji day today methinks
Market wants to test 2115-2120 then back to 2102-5 area (where I might be a buyer)
No meaningful dips being provided to enter for bulls.

Im liking the July 20th scenario, but not writing off a blow off either
Till 2040 breaks to the downside, this bull will continue snorting.
participation is mixed rather than broad. Limited uside....

I will scale in position shorts 2120-35 area, hopefully next week

doji day!! Did anyone buy the dip at 2102?
:-)

[TechMan]

Phew! That was a "fast money" INTC post earning trade. 9%+ run-up was ideal for a quick mean reversion trade. Extra overtime work, but it's good money during earnings season. Anyway, 7-8 is July OpEx week win-loss record of the past 15 years. Friday is 6-9. And, since range further contracts today, we're likely to see the spread between the opening high and the day's low widened tomorrow and/or Monday. Still didn't like the risk/reward at day's high 2114 (SPX), so I wait...

[salam]

Phew! That was a "fast money" INTC post earning trade. 9%+ run-up was ideal for a quick mean reversion trade. Extra overtime work, but it's good money during earnings season.

Anyway, 7-8 is July OpEx week win-loss record of the past 15 years. Friday is 6-9. And, since range further contracts today, we're likely to see the spread between the opening high and the day's low widened tomorrow and/or Monday.

Still didn't like the risk/reward at day's high 2114 (SPX), so I wait...

Your patience (and mine will be rewarded as early as tomorrow)
Here's hoping for a gap and crap so We can enter 2120-25 area ( Gameover has just posted so it's nearly a given)
I bought (limit order hit) at the 2102 support ...but was happy to take 5 quick points profit at the close. Wish I'd held now; but I'm in scalp mode playing small beer money trades and waiting for the next IT trade.

Planning to scale in with stops in the 2135 area.

Edited by salam, 15 July 2015 - 09:35 PM.

[csw2002]

Phew! That was a "fast money" INTC post earning trade. 9%+ run-up was ideal for a quick mean reversion trade. Extra overtime work, but it's good money during earnings season.

Anyway, 7-8 is July OpEx week win-loss record of the past 15 years. Friday is 6-9. And, since range further contracts today, we're likely to see the spread between the opening high and the day's low widened tomorrow and/or Monday.

Still didn't like the risk/reward at day's high 2114 (SPX), so I wait...

Your patience (and mine will be rewarded as early as tomorrow)
Here's hoping for a gap and crap so We can enter 2120-25 area ( Gameover has just posted so it's nearly a given)
I bought (limit order hit) at the 2102 support ...but was happy to take 5 quick points profit at the close. Wish I'd held now; but I'm in scalp mode playing small beer money trades and waiting for the next IT trade.

Planning to scale in with stops in the 2135 area.

Must say that the grind-up and strength over the last few days was a bit of a surprise. I was expecting at least a short term consolidation rather than continued strength. After hour saw ES as high as 2112.5 (or 2117 SPX). BTW, where is the gameover post? He's the best contrarian ever bar none.