8 replies to this topic

[kinga200]

I am holding onto my put from last Thursday.  As well my IT system is still on a full sell.

 

 

[thoughtpwr]

Odds are excellent based upon today's behavior.  Expecting us to gap below the low of today (like 236.7) and trigger a OOPS Buy on SPY at the open and to follow the pitchfork upper trendline into a rally on the close > 238.5.

 

I just noticed we are already down to 237.4 two hours after the close (237.76) on Mon.

 

I also expect to see something negative out of China/India to knock the EEM down at the open. Today, it was resistant to coming down most of day.

 

If we don't generate an OOPS Buy on the AM, could be a long day to the downside; we could be breaking the pitchfork as support, which we did not do today. 3/8 is schedule to be a low by Harley.

[trioderob]

I agree - last week we rallied because Trump who was perceived as not being in control and  not able to formulate polices which could pass the judicial system - made a strong showing for himself at the address to Congress.

 

The market gapped up on that  speech.

 

Unfortunately the whole issue of wire tapping and ties to Russia resulted in a twitter rampage which has once again dissolved confidence in his abilities.

[kinga200]

Odds are excellent based upon today's behavior.  Expecting us to gap below the low of today (like 236.7) and trigger a OOPS Buy on SPY at the open and to follow the pitchfork upper trendline into a rally on the close > 238.5.
 
I just noticed we are already down to 237.4 two hours after the close (237.76) on Mon.
 
I also expect to see something negative out of China/India to knock the EEM down at the open. Today, it was resistant to coming down most of day.
 
If we don't generate an OOPS Buy on the AM, could be a long day to the downside; we could be breaking the pitchfork as support, which we did not do today. 3/8 is schedule to be a low by Harley.

Well I have been short via my IT system for a while. Hedging calls via my VST system n now all out short via puts from last Thursday. but I have to follow my system. I missed the Trump ralley while my IT said go long n as Mark said that's where u make the most money.

That "mini" crash overnight after the elections just sticks in my head.

I'm not a bear or a bull, but I'll be honest...I just hoping this market corrects big. It's healthy for a "true" bull market.

[kinga200]

I agree - last week we rallied because Trump who was perceived as not being in control and  not able to formulate polices which could pass the judicial system - made a strong showing for himself at the address to Congress.
 
The market gapped up on that  speech.
 
Unfortunately the whole issue of wire tapping and ties to Russia resulted in a twitter rampage which has once again dissolved confidence in his abilities.

I agree Trio...just I got that noise in front of me after the elections n didn't take my system.

And now trying to hedge my short since the breakout from the two month consolidation with my VST system via calls. So yes there is a lot going one now but my VST system said buy puts last Thursday n today.

I really don't care about noise/news anymore, just what my system tells me.

But I know I will make that mistake again😜

[NAV]

 

Odds are excellent based upon today's behavior.  Expecting us to gap below the low of today (like 236.7) and trigger a OOPS Buy on SPY at the open and to follow the pitchfork upper trendline into a rally on the close > 238.5.
 
I just noticed we are already down to 237.4 two hours after the close (237.76) on Mon.
 
I also expect to see something negative out of China/India to knock the EEM down at the open. Today, it was resistant to coming down most of day.
 
If we don't generate an OOPS Buy on the AM, could be a long day to the downside; we could be breaking the pitchfork as support, which we did not do today. 3/8 is schedule to be a low by Harley.

Well I have been short via my IT system for a while. Hedging calls via my VST system n now all out short via puts from last Thursday. but I have to follow my system. I missed the Trump ralley while my IT said go long n as Mark said that's where u make the most money.

That "mini" crash overnight after the elections just sticks in my head.

I'm not a bear or a bull, but I'll be honest...I just hoping this market corrects big. It's healthy for a "true" bull market.

 

 

 

Honestly how can any Intermediate term system be "short" in this market ? The market is making new ATH day after day. not even a sell on 15-min since the trump rally began and you say your system is IT short. You have been short for close to 100 SPX points now. I can understand if some VST or day trading trading system generated a sell (even that would have been a net loser). But Intermeidate term ? I think you are either overiding the system with your bias and/or public posturing or you need to get to the drawing board and re-design the system. Otherwise, if you are using any form of technical analysis, pray tell me how can it go to a sell on a intermediate term basis ? I am all ears.

 

Even in the end if you make money out of this trade, i won't be impressed. Cuz this is how traders go bust - sitting on a open ended loss and justifying.

[qqqqtrdr]

Having a Intermediate System based upon leading indicators, I can see how it can be short.....        However, my medium term indicators are based upon lagging indicators and they are weakening, but still in the Bull realm..  My short term indicators have been mildly overbought for the last two weeks ( more downside likely short term )..     Right now the my market is overbought is by 27%, or I at least expect a 7% pullback given the market conditions of less than GDP growth, so we should have an overhead price resistance in the market...

 

Barry

[NAV]

Having a Intermediate System based upon leading indicators, I can see how it can be short.....        However, my medium term indicators are based upon lagging indicators and they are weakening, but still in the Bull realm..  My short term indicators have been mildly overbought for the last two weeks ( more downside likely short term )..     Right now the my market is overbought is by 27%, or I at least expect a 7% pullback given the market conditions of less than GDP growth, so we should have an overhead price resistance in the market...

 

Barry

 

And what would be that leading indicator ? 

[kinga200]

 

 

Odds are excellent based upon today's behavior.  Expecting us to gap below the low of today (like 236.7) and trigger a OOPS Buy on SPY at the open and to follow the pitchfork upper trendline into a rally on the close > 238.5.
 
I just noticed we are already down to 237.4 two hours after the close (237.76) on Mon.
 
I also expect to see something negative out of China/India to knock the EEM down at the open. Today, it was resistant to coming down most of day.
 
If we don't generate an OOPS Buy on the AM, could be a long day to the downside; we could be breaking the pitchfork as support, which we did not do today. 3/8 is schedule to be a low by Harley.

Well I have been short via my IT system for a while. Hedging calls via my VST system n now all out short via puts from last Thursday. but I have to follow my system. I missed the Trump ralley while my IT said go long n as Mark said that's where u make the most money.

That "mini" crash overnight after the elections just sticks in my head.

I'm not a bear or a bull, but I'll be honest...I just hoping this market corrects big. It's healthy for a "true" bull market.

 

 

 

Honestly how can any Intermediate term system be "short" in this market ? The market is making new ATH day after day. not even a sell on 15-min since the trump rally began and you say your system is IT short. You have been short for close to 100 SPX points now. I can understand if some VST or day trading trading system generated a sell (even that would have been a net loser). But Intermeidate term ? I think you are either overiding the system with your bias and/or public posturing or you need to get to the drawing board and re-design the system. Otherwise, if you are using any form of technical analysis, pray tell me how can it go to a sell on a intermediate term basis ? I am all ears.

 

Even in the end if you make money out of this trade, i won't be impressed. Cuz this is how traders go bust - sitting on a open ended loss and justifying.

 

Hi NAV

 

you know i respect your work and I am not trying to mislead anyone.  When I went short 100pts ago all three indicators had signaled short. BUT not all three have been on a buy so I kept my short given the one indicator I use has not been moving with price which means it is not on a buy either.  All three went to a full short again with price now following this indicator.  I have been using my VST system to hedge with calls but now I am very very short with puts as well.  AND my VST system is saying again we have a 70% probability we gap down tomorrow.  So I am keeping my puts.

 

best to you