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Plunge-Protection-Team rides in to rescue the Crashing Bull!


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#11 dTraderB

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Posted 30 October 2018 - 09:09 AM

Going with the flow, tracking NQ LONG up up up....  took 2 lots off the table @ 6800...

 

started this post a few miinutes ago but could not finish it. 

 

Trail stopped out of remaining 2 lots

 

That was another PPT-inspired vertical move up, 38 SPX points rally up. Not trading S&P now. 

 

If the market sells off again today then SPX 2532 will be reached in a hurry.

 

If this rally persists, we should see SPX 2710 today or tomorrow and theh possible rally to 2802



#12 dTraderB

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Posted 30 October 2018 - 11:31 AM

Relatively quiet morning, and the operative word there is "relatively"

 

7 NQ trades this morning, all profitable, but except for one, less profit per trade than yesterday. 

 

VXX and VIX are down, I could get a VIX SELL (SPX buy) at end of day but this market is wild & untamed so there is no guarantee which way it will go 

 

Still looks weak, still many sellers, many buyers too, and we may actually have quieter day today. 

 

Looking to add to my paltry QQQ JAN 2019 call portfolio  but am not too keen at these levels, want to see it go down by at least another 5 QQQ points, may get that this week.

 

I will buy QQQ puts on any big bounce.



#13 dTraderB

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Posted 30 October 2018 - 11:34 AM

SPX 2603 & 2580 nearest targets for down move, with 2018 low at 2532 the major target for this October crash (300 SPX points in less than a month is a crash, for me, my definition)

 

Targets above the market are SPX 2690, 2710, 2735, 2760, and 2804



#14 dTraderB

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Posted 30 October 2018 - 12:05 PM

WOW!   eleven consecutive down 1m NQ bars, does it get easier? 

a 50-point down move, am happy to extract 34.67 average per lot



#15 dTraderB

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Posted 30 October 2018 - 01:37 PM

choppy consolidation at higher levels; 

3 NQ trades, snagged 3.75 points per lot

 

Note that SPX at 2655 is 53 points above the low yesterday, that is 2% above yesterday's low

 

The higher it goes, the greater the possibility that low may not be revisited soon.

 

Caveat: this market can reverse 100 SPX points in an hour or two.



#16 dTraderB

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Posted 30 October 2018 - 01:41 PM

Dull, waiting on the big breakout - up or down

 

Looks like up

 

McClellanOsc_405.gif

 

https://www.mcoscill...t_breadth_data/



#17 dTraderB

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Posted 30 October 2018 - 01:43 PM

Maybe this NQ short can go a long way down...

 

Update:

https://money.cnn.co...fear-and-greed/



#18 dTraderB

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Posted 30 October 2018 - 01:44 PM

Surprisingly low for such a big down move

 

https://www.nasdaq.c...ons/isee-index/



#19 dTraderB

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Posted 30 October 2018 - 01:46 PM

 lost 2 points on that NQ short

waiting patiently for breakout



#20 dTraderB

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Posted 30 October 2018 - 01:51 PM

there she goes, breakout UP

 

extreme scalping, no hanging around to see what will happen next 5 mnutes or more