Time to get moving here so I'm gonna place a wide range for a build, either a short build at 3430 or a buy at 3380 see how that goes. These could be long builds or quick flips if hit we'll see........
Make or break for bulls
Posted 16 September 2020 - 03:08 PM
Posted 16 September 2020 - 03:14 PM
As posted, markets fake traders out both ways after FOMC before arriving on a true direction and that exactly whats happening now
3380 the battleground here in $SPX. Bulls need it to hold after the dust settles & push above 3400, which sets up 3470 this week. Fail here sees 3330
Posted 16 September 2020 - 03:19 PM
$JPM Jamie Dimon begging the Fed to ease off the QE pedal is noteworthy. Banks would benefit from higher rates imho.
Posted 16 September 2020 - 03:20 PM
$SPY $QQQ looks like they will have to work extra hard to gap up in the overnight session. What we are witnessing is distribution ahead of the election. I see no reason to trade the range. It's better to wait for the breakout/breakdown...
Posted 16 September 2020 - 03:23 PM
I am short $FB and I am buying more $C.
Markets overreacting to C's Revlon screwup and loan loss add (expected). Franchise remains strong. @Jimcramer @davidfaber
Posted 16 September 2020 - 07:41 PM
With that 102.5 point SHORT NQ trade I am calling it a day
Has the ST trend reversed? Yeah
IT trend? maybe another 1% down to confirm, with daily close below SPX 3360
keeping 2 NQ hedge long overnight - big PUT positions in QQQ & SPY
Posted 17 September 2020 - 06:10 AM
Tons of energy in the early pre-market session, mainly short NQ trades.
Posted 17 September 2020 - 10:04 AM
No never did get my short fill. As I mentioned though it seemed there was going tio be more downside than up so was glad I sold those Oct 3600 calls! $14. Not doing much as I was driving along the Sunshine Coast in British Columbia. Did get my fill on the 3380 but out with a 1 point profit as my 3381 was hit. Didn't see the big sell off overnight till a few hours later and did do a buy at 3330 so in that with a profit stop now at 3340. We'll likely either remain flat or higher here into expiration which starts tomorrow morning on all the options and contracts on the S&P 500. Index still has the stupidest expiration there is cant believe they ever invented it. Good luck with your trades, I'll pop in again tomorrow morning,,,, on the way to eat at Molly's Reach famous restraunt from the tv show the Beachcombers for 19 years then up higher on the coast! Loved that show as a kid!!!