Keep in mind, I am not a day trader/options/futures as most on this forum. My trades are for 1 to 6 weeks or so typically...whatever the market is giving.
Overbought
Started by
CLK
, May 04 2018 04:33 PM
44 replies to this topic
#11
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 07 May 2018 - 07:59 PM
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#12
NAV
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Posted 07 May 2018 - 09:03 PM
Chilidawgz - ST still bullish after today's close?
Yes, still looks "bullish". However neither bulls or bears have conviction currently. But I have to give the bulls the nod as it is still a bull market. That said I didn't say I am committed, I am on the sideline as I don't see the risk potential going long or short.
QQQ's and IWM look to be making a double top which they need to break upward and thru.
Cumulative AD for Nas and big board are still running positive.
You say your ST, IT and LT are all bullish, but not commited. What are you waiting for ?
#13
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 08 May 2018 - 01:50 AM
Chilidawgz - ST still bullish after today's close?
Yes, still looks "bullish". However neither bulls or bears have conviction currently. But I have to give the bulls the nod as it is still a bull market. That said I didn't say I am committed, I am on the sideline as I don't see the risk potential going long or short.
QQQ's and IWM look to be making a double top which they need to break upward and thru.
Cumulative AD for Nas and big board are still running positive.
You say your ST, IT and LT are all bullish, but not commited. What are you waiting for ?
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#14
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 08 May 2018 - 02:21 AM
(Let me start again, message timed out before I could complete it)
I exited the market in Jan before the correction started. It was starting to look very frothy. Moved all stock positions to cash. Portfolio is usually 75% stocks, the rest bonds and/or commodities etc. My thinking is we are making a bull market top. But that remains to be seen, I err on caution. Currently it appears Mr Market wants to attempt another bull run. I think SPY will fail around 270. If it breaks thru then it's game on again.
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#15
CLK
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Posted 08 May 2018 - 04:21 AM
Bearish H&S on ES, hopefully not too much more damage before cash. SPX 2660 hourly close I will be shorting.
#16
CLK
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Posted 09 May 2018 - 09:54 AM
Rolled long out to the 21st and went one more strike ITM. Boring market, volume is real high, could be terminal or
lead to another 100 points higher, 2660 hourly close is still my stop.
#17
CLK
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Posted 10 May 2018 - 08:02 AM
I am going to add calls on the open. I'm seriously thinking all in, risking half my account on the stop.
#18
CLK
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Posted 10 May 2018 - 08:15 AM
The way I see it, the TL is already broken on a closing basis.
#19
CLK
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Posted 10 May 2018 - 08:46 AM
Went 90%, made some money in crypto this week to cover the stop if it happens.
Should have done this 100 points ago on the first brick.
#20
NAV
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Posted 10 May 2018 - 08:53 AM
I am going to add calls on the open. I'm seriously thinking all in, risking half my account on the stop.
Risking 50% of your account on one trade ? I know conservative folks risk 1-2%. Aggressive folks risk 5%. Super aggressive folks risk 10%.
You are just a gambler, not a trader.
