42 replies to this topic

[opinionated]

Nice, Update that if you see it... when time permits of course

[opinionated]

Moved stop 1142 spx

[TechMan]

Firstly 1163 was not a target, but a price print along the way. Neither was 1153 a beginning of a reversal. It was another price print along the way.

BTW, what made you change your plans of buying the gap ?

1163 was opinionated's target that he had stated a few times.

At 1153, some of the risky assets started to reverse, but that got reversed faster than I could write and post that comment. Those were the "signs" I was looking at.

There were pretty prominent positive divergences in the closing data in both the AH and the RTH sessions yesterday. And, despite the bearish price action over the past 2 days, some of the risk on/off switches like AUD/CHF cross had shown widening gap of positive divergence.

At 1138, almost all the risk switche were off except for the Treasury yields. That's when the 10-year started reversing and climbing above 2000, which appeared to have calmed the market.

And, once the market clamed down, the rally ensued.

Starting from short covering, to short squeeze, to the eventual buying, and, by all means, with intermittent sell-downs.

That's how I envision it for today, as long as Treasury yields continue to provide the leadership for the rest of the risky assets. I'd lie to see it above 2111. That may then lead to the breakdown of the Swiss Franc and the Yen.

So, we'll see....

[DrSP]

What happens when Asia wakes up? Just asking....

[opinionated]

If daytrading, would that matter?

[DrSP]

Sir, If you are swing trading, you can stand in the direction of the wind against fire because you will be at a distance. But, will you stand against fire if you are day trading, in which case you will be close to fire? You know more than me. So, GL!

[opinionated]

Just to put it out there my stops are mental, as I trade weekly indexs my stop is at 1142 and we just ticked under it, one more poke down and I'm out.

[opinionated]

out 1141 small loss on long

[TechMan]

Sir, If you are swing trading, you can stand in the direction of the wind against fire because you will be at a distance. But, will you stand against fire if you are day trading, in which case you will be close to fire? You know more than me. So, GL!

DrSP - opinionated didn't mean it that way. Your question about Asia was a great question, which had prompted me to think further down the road. But, prior to your post, I, too, was only trying to focus on the open positions that I had before I close up shop.

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In any case, not much risk appetite for the day. Let's see if anything changes in the closing hour.

[DrSP]

I didn't mean it to sound bad, Techman. If I did, I am sorry. Sometimes we are caught in the moment and we need a shake up. I was part of the sleeping crowd last week, "hoping" that market will rally. The print of 1200 on SPX this week did a world of good, but I am wide open this time with stops either way. I tried a send a message earlier today but your message box is full. Good luck is all I can tell you here!