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There Has Never Been a Year Quite Like This


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#21 dTraderB

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Posted 08 July 2021 - 06:54 AM

Bank those profits? 

Love selling at these higher levels, average short now 4311.  Missed my trade yesterday by 5 points yesterday oh well, one day we'll see real volatility once again, didn't even see -1% yesterday lol! 



#22 dTraderB

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Posted 08 July 2021 - 06:56 AM

Reopening NQ HEDGE LONG  14585

Reluctant to do this but system says I was supposed to do this since 14630... 

 

I may either close VXX CALLS today or sell some... 

 

After a bad Friday and losing week, Monday & Tuesday were profitable.

Did not want to trade Monday but could not resist a fairly active market

 

Will again rebuild VXX CALLS position after closing a few yesterday. 

Will also close NQ hedge long on any spike up today and then reopen later or tomorrow

 

FLAT Crude but will again trade on the SHORT side above 73.8 after peace looks like breaking out between UAE and Saudis, or  US announces bearish crude news -- expect hints, rumors etc 

 

47 SPY PUTS

40 QQQ PUTS

12 VXX CALLS 

 

NQ 14710

ES  4341

ES  4333.5



#23 pdx5

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Posted 08 July 2021 - 07:23 AM

 

Wonder what is the REAL REASON for this overnight plunge?

 

This looks a gap-down in the cards for tomorrow.......................

 

https://www.marketwa...514?mod=markets

 

Great call redfoliage!


Edited by pdx5, 08 July 2021 - 07:24 AM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#24 dTraderB

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Posted 08 July 2021 - 07:24 AM

Extra notes: This 4270-4280 support is the core rising trendline from March 2020 is a *must* hold for bulls or down we go. Next resistances up is 4313 and if bulls can recapture that risk drops substantially opening 4335+. Important test here as quite abit of downside below this


#25 dTraderB

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Posted 08 July 2021 - 07:25 AM

Yesterday, #ES_F set another ATH as it has almost daily since June 25, but this one rejected hard overnight 4 points shy of my 4357 target. Fake breakout and bull-trap Plan today: Big support ~4280-70 testing now. Bulls must hold here, or this finally unravels to 4225, 4195-4180
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ZVBuToeP_mini.jpg
 
Adam Mancini
 
@AdamMancini4
· Jul 7
After a week of straight upside, #ES_F got a needed dip yesterday to reset the RSI & setup the next leg and it was bought. My support was 4302 and we hit 4305 & bounced 40 points Plan today: Support = 4330 now. As long as we keep holding it, upside targets are 4357 then 4381 twitter.com/AdamMancini4/s…
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#26 dTraderB

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Posted 08 July 2021 - 07:27 AM

VERY STRONG BROAD ES support zone 4250- 80

 

If broken then it could trade below 4000 in a few days. If it holds then SPX 4400 next week. 

In any case, market is at or nearing IT TOP



#27 12SPX

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Posted 08 July 2021 - 07:28 AM

Well isn't that interesting the market actually goes down lol!  It's been almost 3 weeks but there it is a large short build!  My posted average short on here was 4311 yesterday morning but as the day went by I did add a bit more to get it to 4315.  PROFIT stop 4300 for the cash open and employment report out in a couple minutes....



#28 12SPX

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Posted 08 July 2021 - 07:40 AM

As I've said a million times, healthy bull markets have constant -1.5 - 2.0% corrections all the time.  This is the first one in 3 weeks and why you have seen sentiment at extremes especially in the option area.  Calls this morning are still holding a lot pf premium in them so we may not be done just yet.  I'll wait a couple hours in the cash market to see if I'll go long or just build a short above.  Heading out on a little holiday in a couple hours with my partner and her daughter,,,, which she just told us they're pregnant so this world better shape up lol!!! 



#29 redfoliage2

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Posted 08 July 2021 - 08:06 AM

 

Wonder what is the REAL REASON for this overnight plunge?

 

This looks a gap-down in the cards for tomorrow.......................

 

It's at a top with >90% probability .............................



#30 12SPX

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Posted 08 July 2021 - 08:14 AM

Okay lets make it fun, going to lower my profit stop to 4295 and will start a long build there for the day as were not likely done here just yet.