Short NDX - overbought with negative divergences. Bought QQQ 96.63 September put at 1.90 (QQQ ~96.40). Stop near QQQ 96.71. Probable downside reversion target near 94.70.
Crazy, crazy.
Sell Into Strength
Started by
TechMan
, Aug 13 2014 10:59 AM
31 replies to this topic
#2
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 13 August 2014 - 11:04 AM
its always hard to take a shot, shorting the strongest horse in the race...if that's courage i admire it.. good luck .. 
i do think patience will be rewarded.
i do think patience will be rewarded.
Edited by Mr Dev, 13 August 2014 - 11:14 AM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#3
redfoliage2
-
- Traders-Talk User
- 18,101 posts
Member
Posted 13 August 2014 - 11:16 AM
Watch out for the Russian convoy at the Ukraine border tonight...........
Edited by redfoliage2, 13 August 2014 - 11:20 AM.
#4
TechMan
-
- Traders-Talk User
- 7,663 posts
Member
Posted 13 August 2014 - 11:33 AM
Watch out for the Russian convoy at the Ukraine border tonight...........
It really reminds me of Nazi Germany in Czechoslovakia pre WWII.
#5
TechMan
-
- Traders-Talk User
- 7,663 posts
Member
Posted 13 August 2014 - 11:37 AM
its always hard to take a shot, shorting the strongest horse in the race...if that's courage i admire it.. good luck ..
i do think patience will be rewarded.
Nothing to do with courage but more with statistics. Volume formations indicate that the NDX (red curve) is only at half the strength of the SPX (blue curve). Sorry about the crude chart. It's for my personal consumption.
I'm watching how the SPX closes today. If it failed to close above 1940 again, then down it goes.
Good luck and good trading.
Edited by TechMan, 13 August 2014 - 11:41 AM.
#6
bigbud
-
- Traders-Talk User
- 539 posts
Member
Posted 13 August 2014 - 11:55 AM
Norway is too oversold and should bounce, unless we crash
But Norway wont bounce unless SPX stays up or goes more... so I guess there is still more upside short term... unless its crashy 
Youtube JBCycles
#7
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 13 August 2014 - 12:22 PM
understood,
i simply trade better when im using a different set of statistics ...which are buy long the strong, and short the weak .
i simply trade better when im using a different set of statistics ...which are buy long the strong, and short the weak .
Nothing to do with courage but more with statistics. Volume formations indicate that the NDX (red curve) is only at half the strength of the SPX (blue curve). Sorry about the crude chart. It's for my personal consumption.
I'm watching how the SPX closes today. If it failed to close above 1940 again, then down it goes.
Good luck and good trading.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#8
TechMan
-
- Traders-Talk User
- 7,663 posts
Member
Posted 13 August 2014 - 03:01 PM
What a waste of time!
SPX has been hanging in a 3-point range the entire afternoon. And, the EUR/USD is as dead as it could possibly be. Meanwhile, QQQ is still at 96.40. There's been not much movement at 96.40 line of scrimmage.
I'm out at 1.88 (-1.05%). Getting ready for my CSCO post earning "fast money" trade after the bell. I'll see you on the other side.
SPX has been hanging in a 3-point range the entire afternoon. And, the EUR/USD is as dead as it could possibly be. Meanwhile, QQQ is still at 96.40. There's been not much movement at 96.40 line of scrimmage.
I'm out at 1.88 (-1.05%). Getting ready for my CSCO post earning "fast money" trade after the bell. I'll see you on the other side.
#9
TechMan
-
- Traders-Talk User
- 7,663 posts
Member
Posted 13 August 2014 - 03:45 PM
Getting ready for my CSCO post earning "fast money" trade after the bell. I'll see you on the other side.
Looks like I had covered my CSCO short position too early on that 4% plunge following the initial 3% post-earning pop. Darn it!
#10
TTrader47
-
- Traders-Talk User
- 517 posts
Member
Posted 13 August 2014 - 04:25 PM
Getting ready for my CSCO post earning "fast money" trade after the bell. I'll see you on the other side.
Looks like I had covered my CSCO short position too early on that 4% plunge following the initial 3% post-earning pop. Darn it!
I wish I could do that quick trade stuff. Not my forte! You going to re-position short tomorrow on the QQQ's with CSCO leading down?
