The #MysteryBroker checked in overnight. Still cautious, mindful of the consistent tendency for weakness from this point in Sept. into early Oct. Likens the backdrop to Sept. 2020: Poor market breadth for many weeks, growth stocks holding up indexes until they no longer could.

The

#MysteryBroker continues to be bearish on Treasuries, notes that yields firm even with "softer" core inflation print last week. Believes the 10-yr Treasury above 1.5% would mean problems for growth stocks. Still thinks hypergrowth faves like $SNOW and $AFRM

wildly overvalued.

The swing toward bearish sentiment in the AAII survey last week and outsize focus on Sept. weakness by pundits gives #MysteryBroker some pause in his correction call. Says hard for stocks to "really break down" (more than a 10% correction) when AAII bears surge like this.

Michael Santoli

@michaelsantoli

·

Sep 20

The #MysteryBroker checked in overnight. Still cautious, mindful of the consistent tendency for weakness from this point in Sept. into early Oct. Likens the backdrop to Sept. 2020: Poor market breadth for many weeks, growth stocks holding up indexes until they no longer could.

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#52 dTraderB

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17,796 posts

Posted 21 September 2021 - 03:47 PM

Adam Mancini

@AdamMancini4

·

2h

Market likes to choose a price path that would trap most people and 1 scenario in #ES_F that would do that would be a pop into the 50dma ~4425 (would also close the gap on SPY) then rejection to another low to setup an October buy. Bulls need above that 50dma to think about ATHs

Quote Tweet

Adam Mancini

@AdamMancini4

· 4h

Very choppy action today in #ES_F as it likely waits on FOMC tomorrow for further direction. 4365 was key support and this has been the battleground today with the last 4hr candle closing right on it. As long as defended ES still has another leg to backtest the 50dma 4425 twitter.com/AdamMancini4/s…

Adam Mancini

@AdamMancini4

·

2h

Market likes to choose a price path that would trap most people and 1 scenario in #ES_F that would do that would be a pop into the 50dma ~4425 (would also close the gap on SPY) then rejection to another low to setup an October buy. Bulls need above that 50dma to think about ATHs

Quote Tweet

Adam Mancini

@AdamMancini4

· 4h

Very choppy action today in #ES_F as it likely waits on FOMC tomorrow for further direction. 4365 was key support and this has been the battleground today with the last 4hr candle closing right on it. As long as defended ES still has another leg to backtest the 50dma 4425 twitter.com/AdamMancini4/s…

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#53 dTraderB

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Posted 21 September 2021 - 08:53 PM

ST BOTTOM may be in place after a possible State help to EVERGRANDE to pay interest on loans

With FED not definitely tapering and possibly pushing it into 2022, a strong rally could have begun at the lows earlier tonight at about 4321

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#54 dTraderB

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Posted 22 September 2021 - 07:09 AM

30 point profit in ES HEDGE, WILL REOPEN LATER
Add an extra lot to NQ LONG DAYTRADES

Did not expect such a swift late swoon but it came,,,, another GREEN DAY in a great September so far - only one RED day so far this month.

NQ dayrading should hit a record weekly profit if market continues to be as volatile as it has been for past 2 days.

17 SPY PUTS -- not as aggressive as I normally am because I am almost sure there will be a rally after the FED meeting tomorrow

1 ES HEDGE LONG 4336.5
BUY LIMIT ES 4280 (just in case....)
SELL STOP ES 4240 (there is something about this market that can move 100 or more ES points up or down in a flash....)

Flat QQQ, Crude, Nat Gas, VXX

Only 8 DEC SPY PUTS opened before it tanked...
Will add an extra NQ DAYTRADE LONG as HEDGE for PUTS.

May buy ES below 4335 if traded.
Will gradually rebuild PUT positions above NQ & ES highs on Monday

Will open new NAT GAS SHORTS above 5.14

Nice bounce, closed pisirions JIT!
WILL START NEW PUTS position above ES 4350

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#55 12SPX

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Posted 22 September 2021 - 07:31 AM

There with you d seeing nice profits once again, profit stop 4350 for the cash open...

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#56 K Wave

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Posted 22 September 2021 - 08:52 AM

Well now we know why FDX has been acting like total garbage since May....more cremation today....

UPS trying to recover a bit but all the bear spikes at 195 looking a bit ominous. IF today's opening low goes on UPS, may very well join in on the FDX death dive...

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#57 K Wave

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Posted 22 September 2021 - 08:55 AM

FDX:

Come on guys, the economy is just fine...

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#58 12SPX

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Posted 22 September 2021 - 09:20 AM

That does say alot about the economy for sure. I think next year is going to be very interesting as I think there is something more going on. Cant keep blaming shortages on a 2 week shutdown, I think China is playing with everyone but of course we have to have our toys lol!! Markets are stalling out a bit here, profit stop 4368, will buy lower, wanna see 4400 lol!!