47 replies to this topic

[TechMan]

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.

[salam]

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!

[TechMan]

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

[TechMan]

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.

[brucekeller]

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

[TechMan]

-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.

[CLK]

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.

[TechMan]

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.

[csw2002]

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?

[TechMan]

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

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


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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.