Still building now, 3442, tempting to go aggressive but be smart....
NOT NORMAL - throw out TA, FA, SPX 3550 or 3000
Started by
dTraderB
, Aug 22 2020 08:55 AM
99 replies to this topic
#52
K Wave
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Posted 26 August 2020 - 10:29 AM
some weird action lately...yet another day where the higher the NDX goes the worse the breadth gets..
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#53
12SPX
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Posted 26 August 2020 - 10:46 AM
Oh so close 3448 short!!
#54
dTraderB
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Posted 26 August 2020 - 11:00 AM
As I wrote in the first oost of this topic: BUY BUY BUY if there is good vaccine news/talk...
And so is today!!! Buy as much as possible, take profits, repeat, later you will deal wuth the reversal
And so is today!!! Buy as much as possible, take profits, repeat, later you will deal wuth the reversal
<p>
Of course, it is not a NORMAL market but all bubbles and manias are abnormal, especially with trillions on the sidelines.
I will reiterate my FF of last week for a IT & ST top, last week, If there is any positive vaccine news, or credible talk of such, then I will buy tons & tons of ETFs for the LT Portfolio.
This is a response to the thread last week and quite possible this will happen BUT WHAT IS THE CATALYST?
Darris
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Posted Yesterday, 08:21 PM
Only other time SPX breadth was below 50% 5 consecutive days and the index positive over those 5 days was June 15-21, 2000, up 0.60% for those 5 days. Bears already had a hold of NDX and it had a 5 day near 10% bounce. Broad market correction this week would seem to be over and we should rally out of the gate next week with much improved internals.
#55
12SPX
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Posted 26 August 2020 - 11:02 AM
And there we go, 3451, time to sit back and see how this turns out in the end, don't even care if this goes to 3500 lol!! Added to my 3500 short September calls now averaging $25 and 3600 calls for $5.25. Am I bearish calling for a crash no but I'm pretty sure volatility is about to kick up, the market is way out of sync here!! Darn I was just going to say turnaround Tuesday but its Wednesday lol!!!
#56
12SPX
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Posted 26 August 2020 - 11:55 AM
Okay this looks like it may be a short term top so added a bit more, 3454 average now!
#57
12SPX
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Posted 26 August 2020 - 01:59 PM
Couldnt resist now at 3458 short with that pop, can't believe the markets pulling back a little now lol!
#58
dTraderB
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Posted 26 August 2020 - 02:11 PM
Nq hedge long 11919
#59
dTraderB
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Posted 26 August 2020 - 03:17 PM
Was just gonna say the board is so quiet lol! My expiration cycle numbers show this as the biggest bubble ever, numbers never seen before since 1982 that's how crazy it is with an economy that's flat. I understand its a changing world but the valuations are also out of this world even in those stocks and when there's little volatility your just setting yourself for a big fall at any moment and no I'm not talking about a crash. We havn't even seen a decent 1.5% correction in 2 months so I could trade long lol! It's amazing how well I've done shorting lol!
35 years and I have never seen such a bubble!!!
this beats DOT COM and 2007 bubbles
#60
dTraderB
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Posted 26 August 2020 - 03:33 PM
Nq hedge long 11919
closed nq hedge long +73.5 points
market extended, may reopen later
