Looking to buy a few stocks for LT
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Posted 08 March 2019 - 08:25 AM
Bought QQQ pre-NFM report to try to bank some of this decline
Still holding 31 QQQ JUN puts after closing 9 yesterday
Posted 08 March 2019 - 08:51 AM
Would have been a disaster today, but the BLS B/D model rescued them, adding 137,000 jobs...
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
Posted 08 March 2019 - 09:46 AM
Taking off the big RUT position down here...we are right at the hourly 900 now on the futs...
I love rising wedge breaks...seems like they sometimes take forever to get started, but man does it come fast once they get started!
If RUT futs bust the hourly 900 then this could get super ugly...but odds favor a bounce here....
Edited by K Wave, 08 March 2019 - 09:47 AM.
Posted 08 March 2019 - 10:41 AM
this market could collapse and crash today or next week.
Posted 08 March 2019 - 12:39 PM
Posted 08 March 2019 - 12:55 PM
Trannies back testing the big round number level....also conjunction of daily 50 over 72 MA crossover...
Edited by K Wave, 08 March 2019 - 12:55 PM.
Posted 08 March 2019 - 01:12 PM
There is a critical point in a down market, that moment of realization by bulls that it's not coming up back today or tomorrow or longer... rush to the exit follows, aka crash
Not saying that moment is now but it could happen in this current market condition
On the other hand, there could be many who missed out on the 2019 rally and want to buy at these lower levels.... if there are enogh such buyers who have more motivation that those who want to get out, then this market can reverse today.
Posted 08 March 2019 - 02:01 PM
The key in today's data was the 0.3% drop in the index of aggregate hours worked to a 3-month low. Even if you love the HH survey, who cares how many bodies get hired when they’re twiddling their thumbs and watching the clock (it sure is nice to get paid for doing nothing)?
An old Merrill pal tipped me off that cheerleader Kudlow called for a recession in May/16 when NFP came in at +38k. Ahhh...the difference between being a TV host when Obama is in charge and being in the WH under the "alternative facts" DJT regime.
Lol... It's all good Brother!