Added to short position.
Intermediate sell
Started by
CLK
, Apr 30 2017 06:30 PM
21 replies to this topic
#12
CLK
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Posted 01 May 2017 - 09:34 AM
Took 25% off, small rally the rest of the day most likely now.
#13
CLK
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Posted 01 May 2017 - 10:31 AM
Nasdaq is not leading, it's on it's own. Internals are weak.
Shorted QQQ.
#14
da_cheif
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Posted 01 May 2017 - 01:30 PM
Nasdaq is not leading, it's on it's own. Internals are weak.
Shorted QQQ.
u worry 2 much ...watch the sky!
#15
diogenes227
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Posted 01 May 2017 - 02:19 PM
Intermediate sell? Come on, as long as the McClellans are rising, that's nothing more than a great Dusty Springfield.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#16
Charvo
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Posted 01 May 2017 - 05:34 PM
I think the QQQs are the best of the 3 major ETFs. I am in the camp that the rate hike in June will pull down anti-dollar stuff. Gold and gold miners got taken down today. FXI and EEM will follow sooner or later. I think a good pair trade would be long QQQ and short FXI.
#17
arbman
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Posted 01 May 2017 - 05:57 PM
Isn't this a bullish chart? What am I missing here?
Looking for a correction to around the 2200 area. Weekly SPX MACD is not in a spot for continued advance.
Also, the pattern in the below chart puts us in the same setup as end of April 2012 for a 10% correction.
Equity p/c 100ma has consolidated while at the same time Index p/c 20ma is turning back up.
#18
diogenes227
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Posted 01 May 2017 - 06:49 PM
Isn't this a bullish chart? What am I missing here?
Looking for a correction to around the 2200 area. Weekly SPX MACD is not in a spot for continued advance.
Also, the pattern in the below chart puts us in the same setup as end of April 2012 for a 10% correction.
Equity p/c 100ma has consolidated while at the same time Index p/c 20ma is turning back up.
Not missing anything. The only thing not bullish around here is a guess it has to go down someday so maybe today...
Guess not. The NYMO/NAMO has lows above lows and the NYSI/NASI is rising so going down on any intermediate term is still whenever and nothing more..
This reminds of a time an interviewer noted that Trader Vic Sperandeo had a reputation for shorting the top of every bull market and Vic replied that reputation was based on no one watching all the times he got stopped out trying to do that.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#19
arbman
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Posted 01 May 2017 - 07:07 PM
The only issue for me right now is the huge disconnect in between the upside volume vs everything else. Even the summation index turned, but the volume summation index is badly lagging... It doesn't mean a top, the low volume rally can go on for a while and then sharply pull back and fill and resume to the upside. It has been happening... I do not think the market is ready for significantly higher prices, but then again, if we are building a top, I don't expect much breadth support from here... Only a speculative top. It should happen by August at this rate.
#20
CLK
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Posted 01 May 2017 - 09:24 PM
Isn't this a bullish chart? What am I missing here?
Looking for a correction to around the 2200 area. Weekly SPX MACD is not in a spot for continued advance.
Also, the pattern in the below chart puts us in the same setup as end of April 2012 for a 10% correction.
Equity p/c 100ma has consolidated while at the same time Index p/c 20ma is turning back up.
It's short term bearish, long term bullish.
