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Santa's "fast up" rally


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#1 diogenes227

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Posted 08 January 2019 - 08:27 AM

From the link:

 

 

So what now?

 

Probably more upside but it would be prudent to set stops to preserve swing profits. I’ve cautioned in the posts below that this longer term is a relief rally, and likely just the kind of rally the market uses to make everyone believe it’s the resumption of the multi-year bull.

 

The key here is go along for the ride but guard against being fooled by how fast the up.

 

SPY - Santa leaves behind a "fast up" rally


"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 Waver

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Posted 08 January 2019 - 08:51 AM

Diogenes
In your opinion, in no way shape or form the bear market gets killed with this rally? Is there a certain price level amount of time this rally lasts that would convince you of that?

#3 CLK

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Posted 08 January 2019 - 08:57 AM

http://schrts.co/P5RSGi


I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

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#4 diogenes227

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Posted 08 January 2019 - 09:30 AM

Diogenes
In your opinion, in no way shape or form the bear market gets killed with this rally? Is there a certain price level amount of time this rally lasts that would convince you of that?

 

I don't know. I'm just following along as it goes.

 

I suppose a new all-time high generally would reset the clock but even then that would be a shorting opportunity.  If the NYMO/NYSI is positive be long, if not, be short or in cash.

 

And since I've developed an options trading criteria that lets me day-trade either long or short there isn't much else to do.


"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."


#5 diogenes227

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Posted 08 January 2019 - 09:36 AM

 

 Wouldn't it be something if this chopped its way up to 2800 before the next drop?


"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 Waver

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Posted 08 January 2019 - 09:40 AM

Thank you for your thoughts.



#7 CLK

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Posted 08 January 2019 - 09:54 AM

 

 

 Wouldn't it be something if this chopped its way up to 2800 before the next drop?

 

 

 

I think it's possible, probably need more volume especially on the gap ups.


I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

Yang2020.com


#8 CLK

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Posted 08 January 2019 - 10:10 AM

https://invst.ly/9q4m2

 

 

http://thepatternsite.com/gaps.html

 

 

Continuation gaps only fill at an 8% rate within one week. High volume is key, today the volume is ok, could be higher.


I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

Yang2020.com