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Ready for a Santa Claus Rally?


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#1 diogenes227

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Posted 26 December 2018 - 02:43 AM

From the Link:

 

 

I guess what I’m saying is this market is down so far so fast it is bound to bounce any day, any minute… If short term breadth had clicked up Monday with the market at new lows I’d be more confident Santa is here with more than a lump of coal for the bulls, but one can not have everything, even at Christmastime.

 

I am a bear, and as recorded in these posts, have been pretty much from the top this year. With sector by sector falling apart, and stocks all over the place in bear-markets of their own, and the pot stocks becoming the leading sector at the end, it was rather obvious the bull was about to stumble and die.

 

But in the spirit of Christmas, let’s give bulls a bit of relief.

 

READY FOR A SANTA CLAUS RALLY...BOUNCE?


"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."


#2 CLK

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Posted 26 December 2018 - 07:51 AM

Any change in trading positions with this expected bounce ?



#3 diogenes227

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Posted 26 December 2018 - 08:54 AM

Any change in trading positions with this expected bounce ?

 

Swing trading cautiously long.


"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 CLK

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Posted 26 December 2018 - 09:41 AM

 

Any change in trading positions with this expected bounce ?

 

Swing trading cautiously long.

 

 

 

So that means you closed all shorts, right ?



#5 diogenes227

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Posted 26 December 2018 - 10:14 AM

 

 

Any change in trading positions with this expected bounce ?

 

Swing trading cautiously long.

 

 

 

So that means you closed all shorts, right ?

 

 

Yes. For the moment. Looks like going to get shove back into day trading short.


"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."


#6 CLK

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Posted 27 December 2018 - 07:56 AM

Good call as usual, the last futures retrace faked me out, I had some new money and I wanted to get my long term short strategy in place, still I should have just put a buy stop on that at new lows and bought some day calls, My TZA is hedged up good but took some drawdown on leap puts, don't care though a long time left on them yet.