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BULLS hold ES 4350 & bounce or ES 4200 this week


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#21 dTraderB

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Posted 11 October 2021 - 01:11 PM

Closing 5 of 7 CRUDE SHORT lots

QQQ still above 360
Am tempted to buy more calls even as QQQ is above my entry price level... but no, got to be patient.

#22 dTraderB

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Posted 11 October 2021 - 01:30 PM

Closed all CRUDE SHORTs

Will reopen above 81

#23 redfoliage2

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Posted 11 October 2021 - 01:39 PM

As SPX dropped back into the down channel with a bearish intra-day reversal, the index is to have more downside to go.  So watch ES tonight .......................


Edited by redfoliage2, 11 October 2021 - 01:48 PM.


#24 redfoliage2

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Posted 11 October 2021 - 02:24 PM

As SPX dropped back into the down channel with a bearish intra-day reversal, the index is to have more downside to go.  So watch ES tonight .......................

Likely a gap-down for tomorrow .........................



#25 dTraderB

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Posted 11 October 2021 - 03:49 PM

Looks like NEW LOWS for this decline from the ATH, could trade below SPX 4200 before it bottoms

 

 

As SPX dropped back into the down channel with a bearish intra-day reversal, the index is to have more downside to go.  So watch ES tonight .......................

Likely a gap-down for tomorrow .........................

 



#26 dTraderB

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Posted 11 October 2021 - 03:51 PM

Quite weak, bulls seem a bit skittish 

I am looking for test of recent lows and possible drop to ES 4200 ... and maybe lower 

 

Then rally hard into end of week! 

One thing that is worrying me is that Nov options are way to bullish so any upside may be limited here....



#27 dTraderB

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Posted 11 October 2021 - 03:55 PM

Turned out to be a profitable strategy to mainly daytrade NQ, QQQ CALLS, CRUDE short

 

37 QQQ CALLS

1 NQ HEDGE SHORT

 

Flat crude, nat gas, vxx

 

Will close another 4 to 6 QQQ CALLS IF IT TRADES ABOVE 363.5
or will add more below 360

32 QQQ CALLS
6 CRUDE SHORT
1 NQ SHORT HEDGE

 

100% GREEN last week - all 5 days, but Friday was up by only $620 mainly because I had closed most positions by noon on Thursday, and ended the week with only  this:
 
38 QQQ CALLS
1 NQ HEDGE SHORT
 
 Flat everything else. 
Looking to short CRUDE above 80, it is just above this now
May also short NAT GAS but only above 5.90 
  



#28 dTraderB

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Posted 11 October 2021 - 03:56 PM

Full round trip for #ES_F today with it ending right back where it started at the key 4345-4355 support as price now rangebound on the 4hr chart. Likely headed to the bottom of that range (4345ish) now where bulls get a final chance. 4305 & likely lower after is below there
 
 
This market in #ES_F has been all about the 50dma this year: It held 8x since Jan, failed in Sept, backtested once Sept 27 & failed 200 points, and now nearing again (currently its 4431). Likely to test again shortly & to truly end this correction, bulls will need to reclaim it


#29 dTraderB

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Posted 11 October 2021 - 04:02 PM

BRENT 83.6, HOD 84.6

 

 
 
tyler_bigger.jpg
 
The last time Brent was here, the Fed was about to admit it had made a terrible tightening mistake

 



#30 dTraderB

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Posted 11 October 2021 - 04:05 PM

Oct 11, 2021 | 01:10 PM EDT DOUG KASS
Why I Would Be Cautious on Banks Going Into Reporting Season.
Bank stocks are among the most favored value plays of many money managers and strategists based on the fact that the industry is a direct beneficiary of higher interest rates.

...But for banks to profit after a great run since March, 2020, rising rates I believe - and it is the case historically - have to be accompanied

by an improving economy. And, unfortunately, as expressed in our opener, that is not the case: "Citigroup's Global Economic Surprise Index has turned negative and has fallen to levels historically associated with an economic slowdown/recession"


Edited by dTraderB, 11 October 2021 - 04:05 PM.