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#1 TechMan

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Posted 21 September 2015 - 12:23 PM

Following the Gap-n-Crap in the morning session, now let's see if my 1:00pm-1:30pm "time pivot" works. I went long at approx. 1957 cash with a 5-pt stop. More later.... Good trading.

#2 salam

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Posted 21 September 2015 - 12:34 PM

Following the Gap-n-Crap in the morning session, now let's see if my 1:00pm-1:30pm "time pivot" works. I went long at approx. 1957 cash with a 5-pt stop.

More later.... Good trading.


First time in awhile im on the wrong side of the trade with you my friend!

Good luck to both of us; let our stops keep us safe!
I'm not sure what my future holds... But I know who holds it.

#3 TechMan

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Posted 21 September 2015 - 01:21 PM

That's what makes the market, Salam. Anyway, move my stop to break-even at 1957.

#4 TechMan

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Posted 21 September 2015 - 10:59 PM

Based on my scan criteria yesterday, ALL positive 20, 50, 200 DMA crossovers were bond funds/ETFs.


And today, they're all inverse bond funds/ETFs.

First things first, the SPX has to cross 2000, the 50-yard between May high and Aug. low. And, it did, on the FOMC day, 9/17/15, but there's a 15-yard penalty on unsportsmanlike conduct - excessive celebration. :=) Looks like it's ready to take another shot at it, and this time it may cross the midfield and run all the way to 2040.

#5 brucekeller

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Posted 21 September 2015 - 11:25 PM

Well it did make a higher low and high today. The whole IBB thing collapsing wasn't very nice for bulls though.

#6 TechMan

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Posted 22 September 2015 - 05:52 AM

-30 points?! It looks like a sharp reversal that started just minutes before Europe open. What's going on? First time I decided to hold a position overnight in a long while, and this happened. I'll wait for the first bounce to exit.

Edited by TechMan, 22 September 2015 - 06:00 AM.


#7 CLK

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Posted 22 September 2015 - 06:16 AM

I've tried several times shorting the breakdown with OTM hedging w/ITM, it has not worked for follow through. I am reluctant to try it again, so maybe this is the one. The first time it worked, a couple weeks ago. Has to bounce I think though, as the 30 and 60 futures MACD are overdone.

#8 TechMan

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Posted 22 September 2015 - 06:59 AM

I've tried several times shorting the breakdown with OTM hedging w/ITM, it has not worked for follow through.
I am reluctant to try it again, so maybe this is the one. The first time it worked, a couple weeks ago.

Has to bounce I think though, as the 30 and 60 futures MACD are overdone.


I can't find any news for the overnight selloff.

Yeah, there will be a "Mulligan". It always bounces. It's just a matter of when and how much. When the market gaps up/down or moves too fast to execute my orders, I wait for the mean reversion to exit. That's what I'll do to my first swing position that I've otherwise planned to hold for at least a few days.

BTW, I'd just short it with ITM puts, breakdown or not.

Edited by TechMan, 22 September 2015 - 07:01 AM.


#9 csw2002

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Posted 22 September 2015 - 08:03 AM

I've tried several times shorting the breakdown with OTM hedging w/ITM, it has not worked for follow through.
I am reluctant to try it again, so maybe this is the one. The first time it worked, a couple weeks ago.

Has to bounce I think though, as the 30 and 60 futures MACD are overdone.


I can't find any news for the overnight selloff.

Yeah, there will be a "Mulligan". It always bounces. It's just a matter of when and how much. When the market gaps up/down or moves too fast to execute my orders, I wait for the mean reversion to exit. That's what I'll do to my first swing position that I've otherwise planned to hold for at least a few days.

BTW, I'd just short it with ITM puts, breakdown or not.


Other than exiting long on a bounce, do u have a follow-up plan?
Don't be a fool like me - How I lost $10K

#10 TechMan

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Posted 22 September 2015 - 08:18 AM

I can't find any news for the overnight selloff.


Volkswagon scandal? I don't think so...


==================


Other than exiting long on a bounce, do u have a follow-up plan?


Yeah, back to my regular day-trading. :=)

I'll be looking for long entry first, and we'll see how the market set things up after that.

Edited by TechMan, 22 September 2015 - 08:19 AM.