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ST LONG, IT top being formed


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#1 dTraderB

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Posted 25 July 2018 - 08:56 AM

Very busy with Es, crude, QQQ Put options

 

ST LONG triggered, STOP @ daily close SPX 2804.5

Very choppy, slow, aimless, low volume market, may not be worth your time to day trade.

 

this from yesterday:

 

"in progress: final phase of blowout, after which IT decline begins. 

 

ST SELL still valid because SPX closed below the daily BUY STOP, by only a few tenths of a point but still below. 

 

ST BUY could be triggered today if the SPX daily close is above 2812.7"


Edited by dTraderB, 25 July 2018 - 08:57 AM.


#2 dTraderB

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Posted 25 July 2018 - 09:12 AM

Crude report out at 10:30 am   EST

Putting stop order either side of current price.  



#3 dTraderB

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Posted 25 July 2018 - 11:01 AM

Put tight stops on your LONGS

 

 



#4 dTraderB

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Posted 25 July 2018 - 01:17 PM

Opened a small VXX long position @ 30.58



#5 K Wave

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Posted 25 July 2018 - 05:17 PM

FAANG bubble may be coming to an end...

 

First NFLX, and now FB gettin' torched.

 

Using the rule of alternation, AMZN probably good tomorrow, and then time to sell hard....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#6 LMF

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Posted 25 July 2018 - 05:56 PM

Mid term election year continues to follow the script.....crap at the highs.  July was an up month 2010 and 2014 for NDX.  If July 2018 ended up that would make 3 mid term election years in a row......probably a little too much to ask for.  The complete list of mid term years where NDX/nasdaq July is an up month.......1978, 1994, 1998, 2010, 2014.  The other mid term years when it's down are quite ugly on average......including 3 in a row 1982, 1986, 1990.  What I saw today on TQQQ in the last half hour was nothing short of going to the comedy club.



#7 opinionated

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Posted 25 July 2018 - 06:25 PM

Top callers must have to much money. We are right in the center of the cycle low today. So yesterday was your bottom. 2950 next target.

#8 typicalbear

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Posted 25 July 2018 - 07:59 PM

Top callers must have to much money. We are right in the center of the cycle low today. So yesterday was your bottom. 2950 next target.

 

The trade agreement today was merely an agreement to keep talking ... didn't involve auto tariffs.  EU already buys beans and  LNG (liquid dynamite) requires logistics and infrastructure planning.   blink blink blink



#9 dTraderB

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Posted 26 July 2018 - 10:01 AM

There are 3 main possibilities:

-- markets will continue higher and make new highs

- markers will stall and chop around here, above SPX 2800

- markets will run out of new money and reverse

 

I consider the last one to be most likely but when I sit in front of those screens to trade I only see each candle, analyse it, and decide if to buy or sell or stay on the sidelines. 



#10 NAV

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Posted 26 July 2018 - 08:09 PM

There are 3 main possibilities:

-- markets will continue higher and make new highs

- markers will stall and chop around here, above SPX 2800

- markets will run out of new money and reverse

 

I consider the last one to be most likely but when I sit in front of those screens to trade I only see each candle, analyse it, and decide if to buy or sell or stay on the sidelines. 

 

In other words, all this analysis, is for entertainment purposes only.


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

 

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