Small caps aren't buying this nonsense today. It's a tell.
Bear Update
Started by
RagingSpartan
, Dec 18 2018 01:35 PM
8 replies to this topic
#2
diogenes227
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Posted 18 December 2018 - 02:01 PM
And the VIX.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#4
beta
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lasergirl
Posted 18 December 2018 - 02:14 PM
60-min chart close to price/macd divergence. Bounce target SP 2600
"Daytrading -- An Extreme Sport !"
#5
q4wer
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Posted 18 December 2018 - 02:37 PM
Bulls got a weapon --------------------------------- hope/dream
#6
kaiser soze
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Posted 18 December 2018 - 03:41 PM
I think a temporary bottom ( a la 2603, the previous interim low) was likely made this afternoon at the second retest of 2530 (actually third if you count February), in front of the Fed. I covered all shorts but do not feel like going long. If my bottom call is wrong, long positions could be crushed by forced sellers (i.e. margin liquidation). At the same time, there does not appear to be any forced selling pressure yet. Except for AAPL, the tech high fliers (where I suspect most of the margin is embedded) are still holding their own.
Feels like capitulation in oil (but again likely only an interim low). Like dtraderB, I think the big ticket sellers will return in January.
Edited by kaiser soze, 18 December 2018 - 03:44 PM.
#7
kaiser soze
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Posted 18 December 2018 - 03:56 PM
Okay, just nibbled a bit in drillers and financials, the two most beaten up sectors.
#8
pdx5
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I want return OF my money more than return ON my money
Posted 18 December 2018 - 07:20 PM
The last key death cross is poised to engulf the stock market
https://s1.yimg.com/...0562199c7a914b1
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#9
beta
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lasergirl
Posted 18 December 2018 - 09:00 PM
Moment of truth is near. Break above SP 2560 sets up the bounce to 2600. Break below SP 2530 targets 2468.
Edited by beta, 18 December 2018 - 09:09 PM.
"Daytrading -- An Extreme Sport !"
