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SPX again bumps into the 3232 ceiling and retracts


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#1 pdx5

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Posted 17 July 2020 - 02:58 PM

Not going to push through 3232 at close today!

May be next week, barring any bad surprises.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#2 slupert

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Posted 17 July 2020 - 03:03 PM

Not going to push through 3232 at close today!

May be next week, barring any bad surprises.

 I see MR. Volatility lurking in the shadows..(JMHO)



#3 redfoliage2

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Posted 17 July 2020 - 03:04 PM

I'm IT bullish and expect to see SPX at/above the old high before long ...........


Edited by redfoliage2, 17 July 2020 - 03:08 PM.


#4 pdx5

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Posted 17 July 2020 - 03:18 PM

I'm IT bullish and expect to see SPX at/above the old high before long ...........

I am counting on your esteemed prediction yes.gif

So I can pull the trigger and lock in some cap gains.

It is totally ridiculous how fast and how much the indexes have gained since March debacle.

But why fight the trend or the FED.


Edited by pdx5, 17 July 2020 - 03:20 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#5 redfoliage2

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Posted 17 July 2020 - 03:25 PM

In the stock market one needs not only good predictions but also good executions,  e.g.  right now I'm long ES hedged with puts on an IT bullish signal.............


Edited by redfoliage2, 17 July 2020 - 03:26 PM.


#6 pdx5

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Posted 17 July 2020 - 03:34 PM

But the hedges dilute my profits LOL

I like more risk...no risk no gain.

 

But I have no argument against some who want insurance.

I never had collision insurance in 60 years, probably save enough to buy 2 new cars.

I am about to drop my home insurance as well. Risk of fire is very low and we keep no valuables in house.


Edited by pdx5, 17 July 2020 - 03:38 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#7 traderx

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Posted 17 July 2020 - 04:44 PM

how many years old were cars?



#8 pdx5

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Posted 17 July 2020 - 05:08 PM

how many years old were cars?

All brand new starting with my Corvair Monza 1964.

I have confidence in my defensive driving ability, with ZERO accidents caused by me in 60 years of driving.

I was hit twice from rear when stopped at a traffic light. Mostly bumper damage and it did not cost me much more than the deductible would have been on collision policy.


Edited by pdx5, 17 July 2020 - 05:10 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule