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Gettin' Close


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#21 TechMan

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Posted 16 July 2015 - 10:27 PM

It's right there, 2100, but it's no good without volume. Darn it!


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Edited by TechMan, 16 July 2015 - 10:30 PM.


#22 salam

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Posted 17 July 2015 - 05:59 AM

It's right there, 2100, but it's no good without volume. Darn it!


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Very tight overnight trading range
No chance to enter nor exit!

This is an impressive 75 point straight up relief rally squeeze from the lows.

I remain concerned that the low volume seasonal july conditions may excalate price upwards beyond rational exhuberance! That trendline is at risk but the fat lady hasnt started singing yet for this stubborn bull.

We are due a break/pause/retrace but it doesnt mean this will happen.

I plan to continue trading with caution and keep position size moderate with stops like you near the top of the range.

Salam

Edited by salam, 17 July 2015 - 06:00 AM.

I'm not sure what my future holds... But I know who holds it.

#23 salam

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Posted 17 July 2015 - 09:13 AM

Very tight overnight trading range
No chance to enter nor exit!

This is an impressive 75 point straight up relief rally squeeze from the lows.

I remain concerned that the low volume seasonal july conditions may excalate price upwards beyond rational exhuberance! That trendline is at risk but the fat lady hasnt started singing yet for this stubborn bull.

We are due a break/pause/retrace but it doesnt mean this will happen.

I plan to continue trading with caution and keep position size moderate with stops like you near the top of the range.

Salam


Ive improved my short average to 2122 but reduced to 1/3 position short. Ill add on any pop up
I'm not sure what my future holds... But I know who holds it.

#24 TechMan

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Posted 17 July 2015 - 09:17 AM

QQQ at 113.07. Crazy, crazy. Still holding. Looking to add new short positions. Google looks ripe for the pickin'.

#25 salam

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Posted 17 July 2015 - 10:35 AM

QQQ at 113.07. Crazy, crazy.

Still holding. Looking to add new short positions. Google looks ripe for the pickin'.



Dull and Boring

A massive change in market behaviour compared to the previous 3 weeks.

Ive reduced to 1/4 position short average 2122 cash price. This just doesnt feel like we are going to get the usual corrections....maybe Monday

Limit order above around 2127/8 area in place to add 1/3 position only.

Im off to play a weekend poker Tourney in sunny Liverpool. Only £25k prize pool so only beer money hopefully!
Have a good weekend and trade safe as always!

Salam

Edited by salam, 17 July 2015 - 10:40 AM.

I'm not sure what my future holds... But I know who holds it.

#26 TechMan

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Posted 17 July 2015 - 10:54 AM

It's one of the top 3 NDX components, Google (+16.67%), that's causing the "behavioral problems" of the market. I've initiated a short position at 702.60. I'll add to it if it gets up to 703 again. Other than that there's no need to mess with other index positions. Enjoy your weekend too, Salam.

Edited by TechMan, 17 July 2015 - 11:04 AM.


#27 TechMan

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Posted 17 July 2015 - 05:42 PM

BTW, I'm out of YINN today. Congrats to those that had switched from YANG to YINN at the close on 3/8/15. There's your handsome 30%+ gain in just 7 days. The next 2% (70-80 points) is going to be critical for the Shanghai Composite. If it fails to advance beyond that with as much government interventions, then it could break the 200 DMA this time. And below that, there's a lot of real estate.

#28 TechMan

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Posted 18 July 2015 - 01:08 PM

Now that the NDX has broken out of the 4380-4550 range, I've started looking at this broadening wedge formation. It's come real close to the upper trendline at approx. 4676 on "Google" Friday, which just happened to be an opex Friday, by 0.3%. QQQ is only 0.18% away from its upper trendline at approx. 113.80.

Gettin' close, but I think it's close enough.


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#29 TechMan

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Posted 20 July 2015 - 09:37 AM

Added SQQQ at 20.49 on the 2nd QQQ pop to 113.85. Now average 20.94 (QQQ approx. 113.08). The moving lower trendline support appears to be around 106.20 (NDX 4355) for now. That's 6%+ from up here. However, an upside breakout would get me to look for exit.

Now that the NDX has broken out of the 4380-4550 range, I've started looking at this broadening wedge formation. It's come real close to the upper trendline at approx. 4676 on "Google" Friday, which just happened to be an opex Friday, by 0.3%. QQQ is only 0.18% away from its upper trendline at approx. 113.80.


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Edited by TechMan, 20 July 2015 - 09:43 AM.


#30 TechMan

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Posted 20 July 2015 - 12:21 PM

For the time being, the only index that matters is the Nasdaq 100 (NDX). That's THE market, period. Keep your eye on it and see where it closes today. I wouldn't worry about anything else.