30 replies to this topic

[skott]

will we get the COT report today or will it be delayed till next week because of Veterans day?

[skott]

No, I just checked. Gold's numbers should be interesting and revealing

[skott]

time for an update. COT numbers were absolutely weird. there was huge volume during the reported period yet very little change. this makes me question the legitimacy of the report. I'm not smart enough and not enough time to delve into what is really going on with that but suffice to say it's financial numbers that have always posted on a delayed basis of one week giving someone a big advantage. given the level of corruption that exists in the world today and financial governing bodies like the SEC one has to question reports given to the public. for instance looks at employment and inflation numbers. big lies. but on to the trading.

 

sentiment numbers for the market are worse than when I commented before 91% of futures traders are long the Naz100 /S&P wonder how that ends when everyone is on the same side of the boat? I think we'll have a decent correction some time. the VIX still looks negative to me.  I added to jnug on friday. avg price of 57. Miners are looking bullish to me and the levels I stated before have been closed above except for gold which needs to close above 1481. Im guessing miners can rally 7% to 30% short term if things go right. 

[skott]

been super busy, hope u guys appreciate the effort here. EOY contract stuff at work and Benefits enrollment, training, and all the normal life issues plus the extraordinary life issues.  Look at the Down jones transport index. right now with the bad news everything  is right at key levels. lower closes will confirm new downtrend or at least some kind of top in place.  NAZ8260 key  3096 ES. no time for more.

[skott]

If I wasn't already short I'd short naz100 @ 8260 if it can pop back up there for resistance. QQQ equivalent would be around 201.29

[skott]

a very exciting day for a post Turkey day/ half trading day. Looking good. Shorts MAY be turning. I have only covered 5% of the short position at this point...... that was done a day or two ago around current prices I think . If anyone will look up my nat gas trade and look at a chart of where I entered and exited and where it is today can be instructional

[skott]

https://www.traders-...tural-gas-1932/

[dwyer]

been super busy, hope u guys appreciate the effort here. EOY contract stuff at work and Benefits enrollment, training, and all the normal life issues plus the extraordinary life issues.  Look at the Down jones transport index. right now with the bad news everything  is right at key levels. lower closes will confirm new downtrend or at least some kind of top in place.  NAZ8260 key  3096 ES. no time for more.

 

I APPRECIATE YOUR EFFORT & COMMENTS!

[skott]

thanks Dwyer. All I can say is it's very nice to be long gold miners and short the market. Look for a low today/tomorrow/wednesday  bounce for a day or two and then more vigorous downside action. I think this will be a pretty decent correction, perhaps even 25% but that's an outlier

[skott]

added back the 4 or 5% short I took off  QQQ @ 202.60