3 replies to this topic

[viccarter]

Lots of information given out here last week, especially regarding QQQ weakness on potential intermediate term sells.  People that know my work know that I am a R2K trader, but you know that often, you with get a retrace back in the face just when you get a potential swing sell, so keep that in mind with the QQQ.  R2K showed relative strength compared to QQQ on previous weakness, but I have been seeing a lot of distribution in the R2K, and it is underperforming as expected.

 

I am not involved in R2K shorts at this moment, because I have to see that price actually CAN GO DOWN before I sell it, but today's action is rapidly pushing us toward a spot where the short is the right trade.  I am involved in both a XOP long and GDXJ long at this time, based on what I saw Friday, but will be looking to exit those today.  No comment if they continue to run or not as I don't know.  Would be interested in R2K shorts on any type of retrace or possibly if we just hold here toward EOD.

Edited by viccarter, 10 July 2017 - 10:03 AM.

[viccarter]

Somebody on here said (NAV I think), that it ain't about the knowing what to do that's hard, it's the doing that's hard.  But long energy + miners; short the pop in R2K was the plan.  No reason to cover that R2K index.

[da_cheif]

Somebody on here said (NAV I think), that it ain't about the knowing what to do that's hard, it's the doing that's hard.  But long energy + miners; short the pop in R2K was the plan.  No reason to cover that R2K index.

>No reason to cover that R2K index.<     really?    being short looks dangerous    a huge breakout could be very expensive

 

 

http://www.siliconin...0a26275be1f.jpg

[viccarter]

 

Somebody on here said (NAV I think), that it ain't about the knowing what to do that's hard, it's the doing that's hard.  But long energy + miners; short the pop in R2K was the plan.  No reason to cover that R2K index.

>No reason to cover that R2K index.<     really?    being short looks dangerous    a huge breakout could be very expensive

 

 

http://www.siliconin...0a26275be1f.jpg

 

Yeah it's always two sides of a coin to look at things.  I'm a 1-3 day guy, so I'm on a much lower timeframe.  The chart you posted could well be an accurate depiction of the future, and yet the breakout could come 2, 3, or 6 months down the road, and the chart would show long was the right play.

 

Certainly, I don't like the "don't short a dull market" that today's action brought, but often uncertanity is present before a correct trade starts to work.  I've still got a touch of cushion in any event, so we'll see if they force me out tomorrow.

Edited by viccarter, 11 July 2017 - 04:17 PM.