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IT'S MAY, sell and go away!


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#51 12SPX

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Posted 04 May 2021 - 12:08 PM

This is really getting interesting, I'm willing to bet if the Dow can get into the double digits it could go positive.  Not saying it will hold but gonna make the day interesting I think lol! 



#52 12SPX

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Posted 04 May 2021 - 12:41 PM

My favorite charts are still down, Investing..com guess I should be going to tennis.  Dow -77 cmon baby lol!!  If we do pop up a little more I will do some profit stops and lower buys if we pull back, this doesn't have the feel of the start of a bigger decline just yet as long as the Dow can hold the double digit range! 



#53 redfoliage2

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Posted 04 May 2021 - 02:51 PM

Since the support SPX 4120 - 4130 holding it's likely we see a bounce from here.

 

BTW, was this the culprit for today's selling:

 

https://www.cnbc.com...litting-up.html


Edited by redfoliage2, 04 May 2021 - 02:56 PM.


#54 dTraderB

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Posted 05 May 2021 - 06:52 AM

Best day in a while, a great NQ daytrade session, good profits on PUTS & VXX, happy I closed some shorts

 

HEDGE NQ again saved the day, and night, 2 NQ LONGS up by more than a combined 480 points from the low yesterday.

Still net down on HEDGE entries but the rally from the lows yesterday was a good hedge. 

Will add extra lot to NQ SHORT daytrades. 

Will add more SPY PUTS in rally above ES 4180

 

39 SPY PUTS

7 VXX CALLS

210 VXX LONG

 

NQ hedge long 13805

NQ HEDGE LONG 13980

 

Closed ES HEDGE LONG +29.5 points, will add extra lot to NQ LONG DAYTRADES until ES hedge long is reopened later

Last week was much better, small profits but good intraday swings made ST trading much more profitable

 

Want to build a much bigger SHORT position in RISK & LT Portfolio in if it rallies to new ATHs

 

 

56 SPY PUTS

9 VXX CALLS

290 VXX LONG

 

1 ES HEDGE LONG  4167.25

1 NQ HEDGE LONG 13980 

 

 

 

Closed ES HEDGE LONG +29.5 points, will add extra lot to NQ LONG DAYTRADES until ES hedge long is reopened later

Last week was much better, small profits but good intraday swings made ST trading much more profitable

 

Want to build a much bigger SHORT position in RISK & LT Portfolio in if it rallies to new ATHs

 

 

56 SPY PUTS

9 VXX CALLS

290 VXX LONG

 

1 ES HEDGE LONG  4167.25

1 NQ HEDGE LONG 13980 

I closed all futes for now in premarket. 10am PMI, lets see if good news is still good news, or they get spooked about a market too hot. (JMHO)

 



#55 dTraderB

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Posted 05 May 2021 - 06:56 AM

YELLEN walks back RATE RISE loose talk, LOL

BUT FED & their WALL ST foot soldiers came in to save the day

Markets bounced 

Then, later in day, the experienced YELLEN willingly or unwillingly walked back the RATE RISE chatter

 

Yellen sees no inflation problem after rate hike comments roil U.S. Treasury Secretary Janet Yellen said on Tuesday she sees no inflation problem brewing, downplaying earlier comments that rate hikes may be needed to stop the economy overheating as President Joe Biden’s spending plans boost growth.
The initial comments made by Yellen, a former Federal Reserve chair, deepened a sell-off in tech stocks and pushed longer-dated Treasury yields higher. https://www.reuters....tly-2021-05-04/

#56 redfoliage2

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Posted 05 May 2021 - 07:20 AM

I predicted the market selling and bounce based on my market analyses, not on Yellen's talks as I did not know Yellen was going to talk and re-talk on the inflation outlook .............................



#57 redfoliage2

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Posted 05 May 2021 - 07:43 AM

BTW, since bears were unable to make much damages to the bull trend I'd expect SPX to recover the loss from yesterday before long ........................



#58 12SPX

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Posted 05 May 2021 - 08:09 AM

Well I called it to a tee yesterday and no one commented lol!  Could just tell the Dow wanted to go green!  Nonetheless just took my profits of a nice even 30 points from 4144 and am starting a short build at 4178 going into the open.  It's ridiculous that Yellen completely reversed what she said, she knew exactly what she said and I think in the end more and more info will come out of it or talked about. 



#59 redfoliage2

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Posted 05 May 2021 - 08:19 AM

There are 10 million fewer jobs in the U.S. than before the pandemic, that should keep a lid on the inflation.  I see the inflation talks more of a hype than reality.  It's good Yellen finally got it right  clapping.gif ...................


Edited by redfoliage2, 05 May 2021 - 08:25 AM.


#60 12SPX

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Posted 05 May 2021 - 08:29 AM

Where do you live, if you don't think there is inflation out you must be a king sitting on a throne somewhere lol!!