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Long and Strong the S+P

...but Caveat Emptor!

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#1 salam

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Posted 20 June 2017 - 10:30 AM

Dear All

 

I've started scalping this last few months after a break from trading (got married last year, getting over some bigoted posters etc etc)

 

 

Shorting below 2405 and swinging long above 2405 has produced some reasonable beer money.

 

I kicked myself a little missing the swing low @ 2340 but managed to get part of the move back up.

 

The 5, 10 and 21dma have provided good support, and I cannot think why anyone would be shorting this market at these levels. Buying dips is very stress free.

 

 

However, we are seeing classic rotation, tech is no longer leading with the generals losing steam.  There appears to be a flight to safety with bullish stocks exhibiting terminal moves up.

 

P/E ratios are at historic extremes, but this could go easily up another 50 SPX points.

 

Summer low volume means more volatility, and I am hoping to ride a few of those swings.

 

As usual I will post my Entry, and exit levels real time.

 

best wishes, Salam

 

ps The The Trump impeachment will be an event to savour.....my FF!


Edited by salam, 20 June 2017 - 10:35 AM.

I'm not sure what my future holds... But I know who holds it.

#2 q4wer

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Posted 20 June 2017 - 10:40 AM

Hello Salam,  

 

"The The Trump impeachment will be an event to savour"

 

Impeachment seems to be a old story?



#3 salam

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Posted 20 June 2017 - 10:46 AM

Hello Salam,  

 

"The The Trump impeachment will be an event to savour"

 

Impeachment seems to be a old story?

 

The story is old, the event however has not happened ...yet

 

political uncertainty + economic uncertainty = increased volatility.


I'm not sure what my future holds... But I know who holds it.

#4 SemiBizz

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Posted 20 June 2017 - 10:47 AM

Yep, Salam, market has already discounted that impeachment stuff, it is waaay ahead of us... yes.gif

 

You going to play WSOP this year?

 

Cheers and congratulations on getting married... a big step.


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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.

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#5 salam

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Posted 20 June 2017 - 11:07 AM

Yep, Salam, market has already discounted that impeachment stuff, it is waaay ahead of us... yes.gif

 

You going to play WSOP this year?

 

Cheers and congratulations on getting married... a big step.

 

Hey Semi

 

I'm half Mexican half Muslim remember so no WSOP this year?!  ;-)   Ive had some decent cashes in Ireland, and managed to get my life-time earnings over $100k in january this year. Next target is to improve my UK rank to below 1000.

 

I've played a lot of poker with Will Kassouf (9 high like a boss!) and he had an awesome run in the WSOP last year.  A lot of UK Pro friends over in Vegas now.

 

I bubbled the Uk £6Mill on the last hour of day three (pocket tens into QQ), sat and played next to Boris Becker and a few US Pros....so the game is going good my friend!

 

Best wishes, Salam


I'm not sure what my future holds... But I know who holds it.

#6 SemiBizz

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Posted 20 June 2017 - 11:28 AM

Just curious, the SPX isn't a very exciting trade these days, compared to flipping Nasdaq stocks eh?  Looks like on an ABC basis, it's about time for a pullback in the SPX, at least the way I read it... 

 

I think just being "IN" the market right now is risky, more than usual.  There are fun things to do with semiconductors and volatily ETFs here.  Easy Money, if you are willing to play hourly.

 

Everyone wants to be lazy though, play the position trade, to me could not be more risky.

 

The entire market is just a computer game we play to make us forget that the global financial system is completely rotten and bankrupt...

 

sick.gif


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/tradingcoach1

#7 salam

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Posted 20 June 2017 - 11:41 AM

Agreed SPX is dull as ditchwater, but, I've become significantly more risk averse of late...marriage does that to you!

 

Hourly is on a sell, and I covered my longs premarket today (but as I didnt post it... it doesnt count)

 

Looking for a buy signal....but I agree...risky market


I'm not sure what my future holds... But I know who holds it.

#8 salam

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Posted 20 June 2017 - 01:45 PM

Long 2440.6

3 point stop


I'm not sure what my future holds... But I know who holds it.

#9 salam

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Posted 20 June 2017 - 01:57 PM

Closed 1/3 2442.3

 

Stop snugged to 1.5

 

I break even If I get stopped out


Edited by salam, 20 June 2017 - 01:57 PM.

I'm not sure what my future holds... But I know who holds it.

#10 salam

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Posted 20 June 2017 - 02:37 PM

Closed 1/3 2442.3
 
Stop snugged to 1.5
 
I break even If I get stopped out


Stopped out....5dma not support...tomorrow is another day
I'm not sure what my future holds... But I know who holds it.