Jump to content



Photo

OK, This has more than a bit worried about longs prospects short term


  • Please log in to reply
74 replies to this topic

#1 K Wave

K Wave

    Member

  • Traders-Talk User
  • 6,292 posts

Posted 20 May 2020 - 08:45 PM

WOW!

Took another 6 days last time before things got under way, and who is to say it does not even go higher first, but I would say this is most likely a big En Garde! to the Bulls.

 

https://twitter.com/...273922608467974

Research from Sentiment Trader shows that a lot of "small options traders," those who trade <=10, have been very active and very bullish. Last week, small traders bought more call options (bets the market will go higher) than any time in history, except for February 14th.

 

 

 

small.png


Edited by K Wave, 20 May 2020 - 08:46 PM.

What A Beautiful Black Sky


#2 K Wave

K Wave

    Member

  • Traders-Talk User
  • 6,292 posts

Posted 20 May 2020 - 09:04 PM

And here is the raw long side little guy data as of last Friday...likely even higher after last 2 days...

 

And again, could go even higher first...

 

Actually pretty amazing that the huge selloff did not even take the call purchases back into the old range.

 

https://twitter.com/...641345615216641

 

opt.png


Edited by K Wave, 20 May 2020 - 09:04 PM.

What A Beautiful Black Sky


#3 K Wave

K Wave

    Member

  • Traders-Talk User
  • 6,292 posts

Posted 20 May 2020 - 09:11 PM

In any event, we are likely getting pretty near swing top soon....

But as always, have to wait for price to confirm topping action before taking the sentiment fade trade....

 

That may not be too far off...


What A Beautiful Black Sky


#4 Dex

Dex

    Member

  • Traders-Talk User
  • 2,527 posts

Posted 20 May 2020 - 09:13 PM

thanks


"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
17_16


#5 tradesurfer

tradesurfer

    Member

  • Traders-Talk User
  • 2,573 posts

Posted 20 May 2020 - 10:35 PM

we need to do a gap fill on SPX down to 2863 

 

and 23,745 on DJIA 

 

 

 

Today reminds me of December 4th, 2018, key swing high at resistance

 

 

 

we have a new moon kicking in tomorrow.

 

 

 

Bo Polny, that nutcase forecaster has said that tomorrow May 21st is a huge cycle date.  He is really an alarmist type, but sometimes his cycle dates do hit the mark...

 

 

 

If we can get weakness rest of this week and get that panic cycle that tests this weeks low and then friday red close.. that would set up a huge gap down after the long 3 day weekend and setup up a weekly aggressive bar down next week setting the stage for a March retest into June....

 

 

Armstrongs computer is still saying that there will be an intra month test of 15,000 on DJIA to mark the final low, that should happen in June


Edited by tradesurfer, 20 May 2020 - 10:39 PM.


#6 andr99

andr99

    Member

  • Traders-Talk User
  • 5,249 posts

Posted 21 May 2020 - 06:53 AM

WOW!

Took another 6 days last time before things got under way, and who is to say it does not even go higher first, but I would say this is most likely a big En Garde! to the Bulls.

 

https://twitter.com/...273922608467974

Research from Sentiment Trader shows that a lot of "small options traders," those who trade <=10, have been very active and very bullish. Last week, small traders bought more call options (bets the market will go higher) than any time in history, except for February 14th.

 

 

 

small.png

 

the consequence of printing and buying.......disgusting action that will hurt the retailers once more throwing the real economy into a WC. Congratulations to the smart brains that have generated such a high IQ action 


Edited by andr99, 21 May 2020 - 06:54 AM.

forever and only a V-E-N-E-T-K-E-N.....though partly langbardic


#7 12SPX

12SPX

    Member

  • Traders-Talk User
  • 1,723 posts

Posted 21 May 2020 - 06:57 AM

It is interesting as I've never had more people ask me ask me for stock tips in my entire life.  It has actually gotten me back to looking at stocks once again lol!  Took my short profits on the ES overnight, +20 but we'll see how the day goes, is tempting to short longer term but think I'll stick to my sold call option premium for that, so far have barely any puts sold and their way down there just in case as this was a very flat last expiration cycle.  Thanks for all the info K!!



#8 12SPX

12SPX

    Member

  • Traders-Talk User
  • 1,723 posts

Posted 21 May 2020 - 07:56 AM

Can't resist starting to rebuild a short on the ES from 2962, I'll add to it if we go up after the open!



#9 12SPX

12SPX

    Member

  • Traders-Talk User
  • 1,723 posts

Posted 21 May 2020 - 08:42 AM

Averaging up, 2965.50 now! 



#10 12SPX

12SPX

    Member

  • Traders-Talk User
  • 1,723 posts

Posted 21 May 2020 - 09:32 AM

Profit stop 2963!