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Short S&P 4247


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#1 RadioHead

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Posted 14 June 2021 - 03:00 PM

Intermediate-term trade.



#2 gismeu

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Posted 14 June 2021 - 03:43 PM

Intermediate-term trade.


Thanks for the heads up!

gis
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#3 slupert

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Posted 14 June 2021 - 06:36 PM

Ill try it with stops. (JMHO)



#4 GDA

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Posted 14 June 2021 - 06:49 PM

Intermediate-term trade.

what's you stop loss ?



#5 fib_1618

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Posted 14 June 2021 - 06:59 PM

Way too early for "intermediate term"...maybe even short term.

 

Remember...this is quarterly OPEX week...what seems to be obvious can be more like subterfuge.

 

Fib


Edited by fib_1618, 14 June 2021 - 08:30 PM.

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#6 RadioHead

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Posted 15 June 2021 - 02:27 AM

You may be right Fib. I beleive you are looking at further advance over the next few weeks. This is a plausible scenario. I may be early, but I will try here.

 

While the McSum is till slightly positive (energy is still there), participation is not that great.

 

We will know by the end pf Thursday. Let's bring volatility and reassess after that.



#7 fib_1618

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Posted 15 June 2021 - 06:23 AM

Shorting any chart when it's making new all time highs is always a low probability outcome of success just as it is in trying to "catch a falling knife" during declines.

 

What follows is the summary paragraph from this past week's "Weekly Breadth Data" review:

 

"So with the BETS continuing to hold steady with a reading of +80, sentiment indicators remaining "comfortable", along with a FED meeting mid expiration week, this all suggests that we're likely to have another week of lethargic (if not mired) behavior with capital allocations in equities showing favoritism toward the growth end of the spectrum. Because of this, and until we get better analytical clarity between the asset classes, let's go ahead and continue to walk the bullish path of least resistance for the week ahead, and look for volatility to pick up a bit once quarterly OPEX is behind us."

 

Good luck with the trade...keep your stops tight as anyone reading this would be hard pressed to find a top of any significance, in all of market history, when the NASDAQ is making new all time highs.

 

Fib


Better to ignore me than abhor me.

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"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#8 fib_1618

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Posted 16 June 2021 - 06:23 PM

So far, so good...hope it continues to go your way!!

 

Fib


Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#9 RadioHead

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Posted 17 June 2021 - 02:00 AM

So far, so good...hope it continues to go your way!!

 

Fib

Thank you Fib. I took a shot. The probability of this littlie swoon turning into a correction is 50/50 in my book. Too many conflicted indicators. I will try to make money on the downside if the market allows. I will update if I make changes to this trade. Thanks for your kind words Fib!