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Short term trading position


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#1 Spectacular Bid

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Posted 22 April 2019 - 09:15 AM

Bought the June 2955  S&P emini puts at 75.75 and 76.25.  Thought this week had a decent shot to be down. Will post on exit, right or wrong.



#2 slupert

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Posted 22 April 2019 - 12:30 PM

Been building a short position myself, market is priced to perfection. (JMHO)



#3 Spectacular Bid

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Posted 22 April 2019 - 01:19 PM

My preferred scenario which would also fit with Hurst possible projections is 2840 to 2860 this week and then a rally next week. Other than a dip at the opening and a rally back to slightly positive, market not moving at all. 



#4 cycletimer

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Posted 22 April 2019 - 01:27 PM

I’ve built up a short position myself today via $SPX put options and also a short call credit spread on the $SPX. Immediate 1-2 day target of 2885 initially.

#5 tsharp

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Posted 23 April 2019 - 08:40 AM

Don't know how this will work out, but my momentum work went ST long at the close yesterday at 2910, with a loss of 2-points on the previous short from 2908, basis the SP00s.



#6 cycletimer

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Posted 23 April 2019 - 08:47 AM

I added to puts at 2910.  



#7 tsharp

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Posted 23 April 2019 - 11:22 AM

My commentary throughout yesterday's trading session:

 

The SP00s open the globex session with the momentum indicator line on the 60-min chart was rejected again by the DTL and the top of the gray zone resistance level...
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This is the second rejection - if it turns back up from here, it's likely because it's going upward through the DTL...  

 

==

 

SP00s - the SP00s start the day near the lows of the globex session, and have printed new session lows this hour...
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There's potential for another diamond formation in this range, and with most earnings reports coming in better than expected, I'd say a shallow-sideways correction is what we'll see here, then a breakout upward... but as always, the momentum indicator signal line rules the day...
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Just before the open of the regular trading session, the SP00s are down at price support of ~2900 and the momentum indicator line is on its UTL... 
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Both those factors should provide some support at the open, though today, the winner will ultimately be the one who's on the right side when the momentum indicator line breaks out - whether upward or downward... watching. 
 
==
 
 At the 10:00 am bar here in Denver, the SP00s remain in trading limbo...
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Both the 60-min and 240-min SP00s charts are showing both price and momentum signal compression, suggesting a fairly strong breakout is nearing...
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My gut tells me higher, but as always, momentum rules, and whatever it leads to is where the price must follow...
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For now, my SAR swing system remains short from 2908...   
 
==
 
At midday here in Denver, the SP00s are still locked within a tight, range-bound battle that will result in a breakout, one direction or the other, and it seems that upward is most likely, though I'd like to see a quick drop first to give momentum a bit more of a reset... watching. 
 
=
 
This morning I said I wished the SP00s would pullback more, so the momentum indicator line could get a better reset, but thought the price was going higher. I mentioned the momentum indicator line on the 60-min SP00s chart, and that if it ran back upward to its DTL, it was going to go through - it did...
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The next higher price resistance is up at the former ATHs, which is the ~2940s... let's see if earnings can take us there now, and then to the next target of ~3040...
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My SAR swing system reversed to long from 2910... watching.   
 
DONE
 
We're only a few points from the 2940s...


#8 Spectacular Bid

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Posted 23 April 2019 - 11:33 AM

So far I've officially BluStared this trade, which is not a good thing. Bought a few more. Average price now 70. Thought we would get to new highs , but also thought it would happen next week. Obviously wrong. When I put the trade on yesterday I thought it would last 3 to 5 days, so I never planed on being in too long.



#9 tsharp

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Posted 23 April 2019 - 12:34 PM

Yesterday's DTL break upward and nearing a pause for price and the next DTL...

 

SP00s 240-min

 

SP00-240-4-23-19-signal-1.jpg

 

And the confirm on the 60-min SP00s, from earlier this morning:

 

SP00-60-4-23-19.jpg



#10 cycletimer

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Posted 23 April 2019 - 12:42 PM

So far I've officially BluStared this trade, which is not a good thing. Bought a few more. Average price now 70. Thought we would get to new highs , but also thought it would happen next week. Obviously wrong. When I put the trade on yesterday I thought it would last 3 to 5 days, so I never planed on being in too long.


Me too, I Blu-starred! This is my worst loss on a single trade for me in several years. I can’t believe I’m still up on the year by a small margin after closing out this trade.