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#1 NAV

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Posted 14 November 2017 - 09:40 AM

IT: Uptrend 
ST: Correction (at an inflection point today)
Position: Cash
 
Dip buyers got caught in a gap-down again. Bitten four times in a row...
 
I have been in cash since 11/7 and it has been the correct decision for a swing trader ! No point doing sub-optimal trades and losing money.
 
Today the swing bull-bear line is SPX 2578.5. Below 2578.5 the correction will continue. Above that, one should start buying the dips for a swing trade. Will update if i get a buy setup.

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

 

"No warning can save people determined to grow suddenly rich" - Lord Overstone  (The great crypto mania of 2017)

 

 


#2 q4wer

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Posted 14 November 2017 - 09:51 AM

 an inflection point today?

 

I think that it will close on the low of the day to scary some people



#3 q4wer

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Posted 14 November 2017 - 09:52 AM

100 points correction on spx is possible within two weeks.



#4 NAV

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Posted 14 November 2017 - 10:10 AM

100 points correction on spx is possible within two weeks.

 

Look i am not impressed with people making predictions. Put your money where your mouth is. Tell me the entry point and the STOP and give me a real-time exit at 100 points. You will be my hero.

 

I have told you my inflection point - SPX 2578.5 for today.


Edited by NAV, 14 November 2017 - 10:11 AM.

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

 

"No warning can save people determined to grow suddenly rich" - Lord Overstone  (The great crypto mania of 2017)

 

 


#5 q4wer

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Posted 14 November 2017 - 10:13 AM

bot spx put spread yesterday afternoon  spx 2575 / 2765  at 1.8 , closed a little earlier today at 3.3, it went up as high as 3.95.



#6 NAV

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Posted 14 November 2017 - 10:14 AM

bot spx put spread yesterday afternoon  spx 2575 / 2765  at 1.8 , closed a little earlier today at 3.3, it went up as high as 3.95.

 

That's a day trade. Show me 100 points trade  that you are talking about.


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

 

"No warning can save people determined to grow suddenly rich" - Lord Overstone  (The great crypto mania of 2017)

 

 


#7 qqqqtrdr

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Posted 14 November 2017 - 10:14 AM

It is worthwhile to give at least a glimpse of why one would think there would be a drop or rise in the market....     We are all here to learn from each other......



#8 q4wer

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Posted 14 November 2017 - 10:25 AM

60 points correction will bring out a lot of buyers,  correction is needed, either down or side way, then we have a  year end rally to close out this entire insanity.



#9 q4wer

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Posted 14 November 2017 - 10:26 AM

selling spread is a better game than buying.



#10 CLK

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Posted 14 November 2017 - 10:32 AM

An hourly close of 258.75 or higher stops the downtrend, right now I call an IT correction. There were zero fully longs in the polls,

that would indicate an important top.