12 replies to this topic

[SemiBizz]

Welp... Ya'll know I'm a big fan of GS - not so much the company, but the chart... and on Friday... GS BROKE OUT to a new 2019 high...

 

They report on Tuesday Morning... (FULL MOON) so that will make it very interesting...

 

I'm not touching anything short until I see $BKX 103... because it is likely to test... (.618R Level, already rejected many times)

 

So I think patience is going to be rewarded... and I am putting my stop just over that level.

 

[12SPX]

In times like these (week prior to expiration) my method of trading/shorting is to sell call spreads for credit and collect premium. I’m short the $SPX 3040 & 3045 calls expiring next week. If we rally 1% early next week then this trade will lose me $. If on the other hand, we remain flat to down this trade makes $ very rapidly.
 

When The Feds Involved,
 
It just scared the crap out of me shorting.  I have seen this movie several times and been toasted on most occasions.  What ever you call it,  Fed Juice, QE-1-2-3-4  Take your pick.  It seems when everything says this is it,  there's no doubt... That they release some fake news... Make a tweet...  or just flat buy at the same points we see as a break down (IF).  Years ago I had a hard time believing this...  But I paid my Dues... They Schooled me good.  
 
Then on top of that the Put Buyers rush in and that fuels the next 10 point pop.  Rinse/Repeat!!  
 
In General I don't think Trader Services are needed.  BUT...  At times like these a good reputable service as in Mark's service...  Fib's... Semi's... and a few others here are very great road maps.  These trades know the inner pulse of the market with no emotion involved.  
 
Then there's this...  Posted here a few days ago that stuck in my mind.  When they come back, and 'They" will there is an easy 15% jump coming.  https://pbs.twimg.co...=png&name=small
 
For a big move down,... Your waiting/hoping/predicting 'An Event'  And the chances of that are less than 50/50
 
The best trades in times such as these are to wait for news/small events and watch the VST indicators and climb in the boat with the really smart money.  "They Are Whats Controlling This Circus! 
 
Recently I have been big in studying Cycles...  They are great without big manipulation.  BUT "They"  watch these to... And they know when they are due...  And that is when they pump the hardest.  
 
I personally think next week points down,  Maybe pretty hard....  But Do I trust it?  No....  
 
Good trades forcasters and "-od Beless"

 

My kinda trader, over the many decades I've collected lots of premium!!  Unlikely we'll be there by Friday and even if we are close you should still be able to collect depending on what your fill was!!  Do you have put spreads on also?  

[cycletimer]

Thanks 12, no, only call credit spreads as a somewhat directional bet. Lower risk than buying puts for sure and I like collecting premium, like a toll booth!

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My kinda trader, over the many decades I've collected lots of premium!!  Unlikely we'll be there by Friday and even if we are close you should still be able to collect depending on what your fill was!!  Do you have put spreads on also?
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