DOW +88 S&P +1 Nasdaq -74. Intermarket divergences galore
CryptoTulip a.k.a Bitcoin up 1000 and down 1000 today (never seen anything like this in my life)
Posted 29 November 2017 - 10:26 AM
DOW +88 S&P +1 Nasdaq -74. Intermarket divergences galore
CryptoTulip a.k.a Bitcoin up 1000 and down 1000 today (never seen anything like this in my life)
Posted 29 November 2017 - 11:23 AM
Shorted SPX 2627. Stop 2631 for now. Will move down the stop if i don't see a swift selloff.
This is only a daytrade. There's is no setup for any swing trade yet. I am trying this short based on the massacre going on in Nasdaq. One them is a fake. We will find out soon.
Edited by NAV, 29 November 2017 - 11:25 AM.
Posted 29 November 2017 - 11:34 AM
Posted 29 November 2017 - 11:38 AM
Alex,
I see not a single top post today - short term, intermediate or long term. I see no bears shorting today. And there's a massacre going on in Nasdaq.
Well, it could be just rotation from tech to banks. But it's weird to see the perma bears on this board having become so quiet. I am not used to it
I already have a short term sell on Nasdaq. But nothing yet on S&P. It's just a speculative day trade on my part, betting that S&P will catch up with the Nasdaq.
Posted 29 November 2017 - 11:47 AM
Saw it in 2000. Small biotechs and internets in 2000. B2B and genomics were the big hype stocks. Stocks up 10-fold in one month and disappearing within a year.
internets lose most of their market cap in 2000
There were a bunch of 10 percent corrections in the last six month leading up the April crash. Greenspan was buying and selling securities around Y2K. ECB just bought 60 billion euros in the last three weeks. Top of current channel has been reached.
Edited by Data, 29 November 2017 - 11:54 AM.
Posted 29 November 2017 - 11:49 AM
Took 5 points on 1/3rd. Stops moved to near breakeven (Spx 2627.5).
Edited by NAV, 29 November 2017 - 11:49 AM.
Posted 29 November 2017 - 11:53 AM
Saw it in 2000. Small biotechs and internets in 2000. B2B and genomics were the big hype stocks. Stocks up 10-fold in one month and disappearing within a year.
internets lose most of their market cap in 2000
Who can forget the Ariba and Commerce one of that era ? .
Edited by NAV, 29 November 2017 - 11:55 AM.
Posted 29 November 2017 - 11:55 AM
Alex,
I see not a single top post today - short term, intermediate or long term. I see no bears shorting today. And there's a massacre going on in Nasdaq.
Well, it could be just rotation from tech to banks. But it's weird to see the perma bears on this board having become so quiet. I am not used to it
I already have a short term sell on Nasdaq. But nothing yet on S&P. It's just a speculative day trade on my part, betting that S&P will catch up with the Nasdaq.
Posted 29 November 2017 - 11:56 AM
It's a ending diagonal break on QQQ. It will retrace the wedge completely. Should be back to 151.8 very soon.
Posted 29 November 2017 - 12:39 PM
Sudden Weakness in Tech MNCs and Continuing several week weakness in Physical Metals, Metal Stocks, Chemicals and Energy Stocks is the SYMPTOM. Massive economic distress in China is the CAUSE.
I'd be watching CQQQ and KWEB closely.
On the flip side, US economy is doing very well. At least for now.
Edited by kaiser soze, 29 November 2017 - 12:40 PM.