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FWIW, Covered Short


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#1 OEXCHAOS

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Posted 04 December 2016 - 07:04 PM

We covered that short we mentioned on NAV's thread Friday, at 218275 for a 10 point profit. I have no idea if we go lower, but I do suspect a turn back higher shortly, most likely by mid-week.

 

That's what the Wall St. Sentiment Weekly Sentiment tells me.

 

Mark


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#2 SemiBizz

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Posted 04 December 2016 - 07:39 PM

Some days you just have to take the money...

 

I had one of those days on Thursday...

 

I was Flying northbound from San Juan Puerto Rico to Newark, so there was no internet coverage out over the ocean...

 

I looked at the moving map display and noticed the captain had turned inbound and we were approaching the North Carolina coast, made course correction due to turbulence...

 

I was short semiconductors via SOXS - all of a sudden the internet lit up and I dialed into my account at 3:40 ET and saw the SOX was down 43 points...

 

At that point, I just had to take the profit, because no way was I expecting down 43 points, and with the jobs report coming on Friday why chance it?  I lucked out and punched out with a nice profit...

 

Some days you get lucky, if you don't step up and take the money, you can only blame yourself later because you got too greedy....


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#3 NAV

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Posted 04 December 2016 - 09:48 PM

So far the referendum is looking like a non-event for the markets. Even the Euro is unmoved.


"It's not the knowing that is difficult, but the doing"

 

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#4 SemiBizz

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Posted 04 December 2016 - 11:45 PM

Wait til the banks open tomorrow in Italy....they could open and close in an hour... we don't know.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#5 SemiBizz

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Posted 04 December 2016 - 11:53 PM

There is absolutely no volume on the bounce and it was hammered to the low on volume tonight....

 

-1x-1.png


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#6 Shaggies_View

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Posted 05 December 2016 - 03:38 AM

Euro is burning rubber at the moment....



#7 SemiBizz

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Posted 05 December 2016 - 05:24 AM

Defend Fiat at all costs...  print print print ... they can't have anyone thinking it's no good


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#8 SemiBizz

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Posted 05 December 2016 - 05:51 AM

Took three days to fix Brexit... Italy - only 3 minutes...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#9 OEXCHAOS

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Posted 05 December 2016 - 08:54 AM

I'm glad I've learned to (more often :) ) stay on discipline, AND theme.

 

From the weekend letter:

"Of more interest, the WSS Surveyees are leaning heavily short. Now, I've been running this survey for a long time and I've come to recognize certain patterns. I know that when the WSS Surveyees get leaning really heavily one way (as they are now) they're likely to get immediately right. They are ALSO likely to get wrong pretty soon after that. I have to think that we make a low by mid week. I would not be patient with shorts. The Breadth is holding well and we're getting less overbought day by day.


The Financial vs. non-Financial Commercial Paper is trending lower, and is at 0.03, which is not worrisome.  I believe that this will give us a heads up if there is a systemic shock of significance building."


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