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Monday could be down - Mnuchin blew it: "no scheduled meeting"


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#1 dTraderB

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Posted 10 May 2019 - 03:13 PM

What a great week! 

Tiring but worth it.

Looks like market will be down Monday unless Chinese do not impose tariffs and/or a meeting is scheduled.

 

But, Mnuchin blew it with "no scheduled meeting" 

and Liu He chimed in with the same message 

 

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Trade Turmoil Sparks Worst Week Of 2019, Wipes Over $2 Trillion Off Global Stocks

Liu He: "No talks are scheduled from here" Steve Mnuchin: "No future talks planned as of now"

12:34 PM - 10 May 2019

 

 



#2 CLK

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Posted 10 May 2019 - 03:30 PM

But why did it rally on those messages ? Why not crash right now ?

 

Maybe "they" wanted to trap the rest of the buyers on a Friday before big gap down on Monday.

 

I added to short on close, but these hedged longs and shorts are not doing anything in a 50 point chop.

 

 

May have to call it a failed IT trade in another week or so and go to cash and focus on scalping the futures.

With NYAD way above 2018 highs, the market had no business topping short of 3100, Trump ruined it all.



#3 fib_1618

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Posted 10 May 2019 - 03:44 PM

Why exactly is everyone worried about this?

 

Technically, the market was compressed and this "news story" allowed the market to purge while allowing uninformed media imbeciles to spew their ignorance.

 

It's actually quite bullish...I mean, really...what leftist doesn't like increased taxes? smile.png

 

Fib


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#4 CLK

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Posted 10 May 2019 - 04:27 PM

https://invst.ly/arcg2



#5 opinionated

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Posted 10 May 2019 - 04:39 PM

I think we have much more to go I'd guess 2750-2775 if this ia an ABC setting up asI suspect. I covered a nice long from 2840 at the close, which is the exact trade I made yesterday. (Thanks Semi) he has been spot on during this decline and if you just monitor his twitter feed he shares alot of useful information. My plan going forward is long Monday morning on a tiny gap down looking for 2910 to top out and start C.

#6 slupert

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Posted 10 May 2019 - 06:14 PM

I think we have much more to go I'd guess 2750-2775 if this ia an ABC setting up asI suspect. I covered a nice long from 2840 at the close, which is the exact trade I made yesterday. (Thanks Semi) he has been spot on during this decline and if you just monitor his twitter feed he shares alot of useful information. My plan going forward is long Monday morning on a tiny gap down looking for 2910 to top out and start C.

 

I covered  for a nice profit, but the trade went for too long, and I know better than that. SYMC and MU were nice daytrades for today. Still expecting another shorting opportunity in the semis. JMHO)

 

I think we have much more to go I'd guess 2750-2775 if this ia an ABC setting up asI suspect. I covered a nice long from 2840 at the close, which is the exact trade I made yesterday. (Thanks Semi) he has been spot on during this decline and if you just monitor his twitter feed he shares alot of useful information. My plan going forward is long Monday morning on a tiny gap down looking for 2910 to top out and start C.

Look at the green candles in the "sell off", gapped down then bought right up, bull market. This  market was "carefully placed", like a piece of fine China, where it is now. The volatility event is yet to come, but its coming(JMHO)



#7 opinionated

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Posted 10 May 2019 - 07:47 PM

Agreed,  



#8 AChartist

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Posted 10 May 2019 - 09:16 PM

good gawd man who give a flip

 

let me see, british mi6 technology got 65% of chinese adicted to opium to setup mao communist genocide, rhyming yet.

 

funny enough, mao, stalin, fdr all installed at same time, rotchild

 

they keep coming back for more

 

let me see, hildebeast administration transfers the entire classified patent office files to china, along with most favored nation status on the way out, with the sofa

 

getting it yet

 

there is no chinese deal

 

getting it yet

 

take a hike globalist aholes, getting it yet, aholes and their 85 IQ voters keep coming back for more


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#9 cycletimer

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Posted 10 May 2019 - 11:45 PM

The market was down over 2% and I had my best week of 2019 and all trades were on the Long side.
It’s definitely a traders market. Buy-and-Hold ended last month. I closed out all of my longs (except for a smallish position in gold miners) into the close today. Went home flat for the weekend.

#10 opinionated

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Posted 11 May 2019 - 06:05 AM

Cycletimer

 

Yes,  It has became a traders market for sure.  An environment I do much better at, Then throw in the extreme volatility and wha-la...  Timing suggest this will continue into the first week of June when I believe the trad-able bottom will come into play.

 

On a side not cycles say next week will be the big buy (Swing Trade) in Gold. Between the 14th and the 17th.  Thinking 1274 might be the sweet spot but a quick swoosh to 1255 would fit the charts better. A leap there will be a nice investment IMHO.

 

Bonds are on the same cycle with one more decline next week with the Long Bond trading down to 147.25 ish then targeting 151...