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Time to be AGGRESSIVELY SHORT ? IT top forming


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#1 dTraderB

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Posted 17 May 2021 - 08:21 AM

Very busy....  I will be going aggressively SHORT, building a huge short position during the next few days IF markets behave as if there is an IT or ST top forming. Next 2 days critical. Will be partially hedging with extra lots in  NQ daytrades in the opposite direction

 

Last week, #ES_F had its 1st ~5% pullback since Feb, successfully testing its 50dma & resetting the RSI. This week is key for follow through for bulls Plan today: Dip underway as expected. Supports = 4150 then ~4125 (big). As long as they hold, next up is 4205 then 4270. $SPX
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Adam Mancini
 
@AdamMancini4
· May 15
Have a great weekend! It's no coincidence where we bottomed this week in #ES_F - right its main bull market trendline from March 2020 low. *Essential* this holds from here Plan next week: Ideal is dip first then squeeze to 4270-4300 where I expect a pullback. Detail below $SPX

 



#2 dTraderB

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Posted 17 May 2021 - 08:21 AM

Additional notes: As posted last week ~4175 remains strong resistance. Price will need to base and bull flag below it like it is right now to clear that. Above there triggers the next leg higher. 4150 (right here), 4125 remain supports. 4125 fails sharp downside could open
 
 
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While early last week was ugly for SPX and NDX, $Gold Miners held up nicely. Since the March 4 low for indices, GDX is +23% outperforming $SPX, $NDX & Bitcoin This newfound leadership is more evidence a major bottom is in and $GDX is now headed higher in months ahead. Plan below

 



#3 dTraderB

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Posted 17 May 2021 - 08:23 AM

almost 50% more BULLS

 

 
Saturday Twitter Poll The next 100 points for the S&P?
 
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#4 dTraderB

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Posted 17 May 2021 - 08:27 AM

I will NOT trade BITCOIN! All markets are to some extent manipulated... but CRYPTO seems just too suspect!

 

And on cue, Elon Musk (according to a Twitter exchange) may have sold some or all of his bitcoin holdings. http://bloomberg.com/news/articles/… Bitcoin trades to $44.4K, down $3200 or -7%.
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Dougie Kass
@DougKass
· 18h
@realmoney from Friday May 14, 2021 | 04:52 PM EDT DOUG KASS A Bit of Bitcoin News "Just one more thing." -- Lt. Columbo I just learned that there was a late-day and large-sized buyer of bitcoin puts (with strikes at $45k and $46k) with a 5/28 expiration. twitter.com/DougKass/statu…


#5 12SPX

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Posted 17 May 2021 - 08:50 AM

Yay thanks new thread.  Average short now 4160 and going to start selling June calls again at the 4300 level for $19.  Will add if we move up more. My May 4250, 4300 calls are almost worthless may buy them back soon! 



#6 12SPX

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Posted 17 May 2021 - 08:57 AM

Profit stop 4159 see how it goes will sell higher! 



#7 12SPX

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Posted 17 May 2021 - 09:17 AM

Was just lowering my profit stop down to 4150 and it was hit for a 10 point profit, will start selling at 4155 again!!



#8 12SPX

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Posted 17 May 2021 - 09:21 AM

Well that was quick short at 4155, see how that turns out! 



#9 12SPX

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Posted 17 May 2021 - 09:31 AM

Profit stop 4154, will sell higher if hit! 



#10 12SPX

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Posted 17 May 2021 - 09:34 AM

Getting fun, profit stop 5150, sell above!