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HULBERT: The stock market is overdue for a one-day 5% or 10% plunge


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#11 dTraderB

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Posted 19 October 2018 - 10:23 AM

Should I continue to trade today? Maybe not, too choppy for daytraders

 

OPEX choppiness should decrease in the afternoon session.... let's see if this NQ short position can make more than 3.2 points (average for the day, so far)

 

If notl then I will stand aside with 15-point NQ Buy & Sell entry stops and let the market do its thing.



#12 dTraderB

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Posted 19 October 2018 - 10:24 AM

I see this market has bottomed ..................

 

 

ST or IT ?? 



#13 dTraderB

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Posted 19 October 2018 - 10:30 AM

Should I continue to trade today? Maybe not, too choppy for daytraders

 

OPEX choppiness should decrease in the afternoon session.... let's see if this NQ short position can make more than 3.2 points (average for the day, so far)

 

If notl then I will stand aside with 15-point NQ Buy & Sell entry stops and let the market do its thing.

 

Ok, I will stay for a whiile after that 9.4 avg profit short NQ trade


Edited by dTraderB, 19 October 2018 - 10:30 AM.


#14 dTraderB

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Posted 19 October 2018 - 10:41 AM

Yeah, could be an IT bottom since the big guns are out talking it up, abd backing the talk with strategic interventions....

 

Here is one of them:

 

JP Morgan's widely followed analyst Kolanovic sees market bounce Friday and continuing next week
  • J.P. Morgan's Marko Kolanovic told clients Friday that a combination of technical factors should lead to a market bounce during the session and into next week.
  • "Given the rapid selloff yesterday, the reverting feature of yesterday's option hedging impact should have a positive market impact today," he said.
  • Kolanovic has blamed the recent sell-off on so-called systematic strategies like risk parity funds and options hedging rather than fundamental forces. 

https://www.cnbc.com...ock-bounce.html



#15 dTraderB

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Posted 19 October 2018 - 10:42 AM

Looking for a long NQ trade after that 45-point NQ dump



#16 dTraderB

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Posted 19 October 2018 - 11:29 AM

Finally, two good NQ shorts....

nq2.jpg



#17 dTraderB

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Posted 19 October 2018 - 12:27 PM

With the CRASH WINDOW still open, the market HAS TO RALLY now to be up on the day at the close , or else it will be carnage, today and/or MOnday.

Today's initial rally was quite strong but was sold, again, and heavily. 

 

If the markets can hold here and then raly to the close (with shallow pull-backs) then the bulls will take the advantage into the weekend and Monday; if notl there could be VERY UGLY action today, with a possible new low for this October decline.


Edited by dTraderB, 19 October 2018 - 12:28 PM.


#18 tradesurfer

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Posted 19 October 2018 - 01:16 PM

New Moon opposes Uranus on October 24th which has meaning of 'revolution'.  (according to Arch Crawford)

 

Seems like an ideal low price target into the 24th.


Edited by tradesurfer, 19 October 2018 - 01:18 PM.


#19 dTraderB

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Posted 19 October 2018 - 03:12 PM

Bearish close heading into the weekend....

 

SPX finished more than 1% down from the daily high, just below the 200ma

 

Still, VIX and VXX do not show much fear, on a relative basis. 



#20 dowdeva

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Posted 19 October 2018 - 03:22 PM

Redfoliage, I usually agree with you, but this time I am thinking more down next week.