the market opens. Good enough for this swing. Grabbed some SDS @.37 premarketm 18 even the stop. (JMHO)
I'll be out of longs as soon as
Started by
slupert
, Jul 06 2020 07:32 AM
43 replies to this topic
#2
slupert
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Posted 06 July 2020 - 07:36 AM
also will be watching the VIX intently for possible opportunity. (JMHO)
#3
K Wave
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Posted 06 July 2020 - 08:05 AM
Very good chance you will get steamrolled here...picking up nickels in front of one not usually a good idea....
You have to know where you are in the pattern, and this is highly likely a liftoff day...Good Luck
Edited by K Wave, 06 July 2020 - 08:06 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#4
slupert
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Posted 06 July 2020 - 08:11 AM
Very good chance you will get steamrolled here...picking up nickels in front of one not usually a good idea....
You have to know where you are in the pattern, and this is highly likely a liftoff day...Good Luck
You might be right, I could be very that's why I'm watching the $vix so closely. We are heavily overbought on hourly and 4 hour, doesn't look like a good lift off day. (JMHO)
#5
K Wave
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Posted 06 July 2020 - 08:30 AM
Hourly an 4 hour YM look a lot like a liftoff day, although could be an intraday pullback after the open...or...it could just Keep on Truckin'.
12 hour YM also looks like very beginning of big move up.
Only a move back under YM 25600 could negate a launch that looks like it is gearing up for a run at the all time highs....
Once 27300 area is cleared, new highs are pretty much a lock...
Will not be surprised at all to see above 3200 SPX real soon, perhaps today.
And perhaps you could be right, but I learned long ago not to bet against multiple longer term swing time frames all flashing buy in unison at critical point on the chart....
I would much rather wait for a confirmed failure, than stand in front of what very well may be dead ahead....which is full unrelenting Saturn V launch mode...
And yes, IF the launch fails here today, then that could be extremely bearish. But looking at the hourly setup especially, I do not think it will.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#6
pdx5
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I want return OF my money more than return ON my money
Posted 06 July 2020 - 08:31 AM
Trend is your friend!
Why fight big Mo?
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#7
linrom1
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Posted 06 July 2020 - 08:38 AM
Nuts. Start hoarding cash.
Edited by linrom1, 06 July 2020 - 08:38 AM.
#8
K Wave
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Posted 06 July 2020 - 08:42 AM
Last resistance on Dow cash at 26200.
Clear that, and it is likely over for the bears...
Edited by K Wave, 06 July 2020 - 08:42 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#9
K Wave
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Posted 06 July 2020 - 08:43 AM
1460 RUT is the respective level there
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#10
pdx5
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I want return OF my money more than return ON my money
Posted 06 July 2020 - 08:44 AM
Nuts. Start hoarding cash.
Good luck with that...5 year treasuries yielding 0.35%
while real inflation for necessities is 5% at least.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
