I just hope I didn't exit early out of one of the biggest weeks of the year. I had a high beta stock, RBLX on Monday, original PT was 92 but I got cold feet and got out Tuesday morning... still a 6% gain and I had put a lot of money on it, so not bad... wish I had just stuck with my PT instead of wussing out at 86... it was just the volume on the RBLX 'bottom', along with a lot of other stocks, was pretty mediocre for that kind of massive bottom shadow. Should have been all-in on all breadth kind of volume, not just the major indices themselves.
ST Bottom, Bounce, DOWN again
#61
Posted 12 January 2022 - 07:36 AM
#62
Posted 12 January 2022 - 08:18 AM
In the end I got stopped out of my profit stop at 4699 for a 1 point profit at the close and then back in with a short of 4706 but didn't want to hold going into the inflation report so put in a buy overnight at 4700 and the pajama traders helped me out with a 6 point profit. Were still sitting here and I'm tempted to short but think I'll wait until after the report to figure out the direction we might go here!
#63
Posted 12 January 2022 - 08:24 AM
I am also waiting on it.... this report can be VERY BULLISH or VERY BEARISH but I expect the result will be a rally after the initial heat & noise.
Looking for a ST TOP today or tomorrow
In the end I got stopped out of my profit stop at 4699 for a 1 point profit at the close and then back in with a short of 4706 but didn't want to hold going into the inflation report so put in a buy overnight at 4700 and the pajama traders helped me out with a 6 point profit. Were still sitting here and I'm tempted to short but think I'll wait until after the report to figure out the direction we might go here!
#64
Posted 12 January 2022 - 08:26 AM
Hmmmmmm to hard to resist starting my short build at 4715 lol!
#65
Posted 12 January 2022 - 08:26 AM
Unless it DAILY CLOSE is above ES 4760, there should be a ST top
DAILY CLOSE above ES 4760 leads to new ATHs
#66
Posted 12 January 2022 - 08:27 AM
I know,,,, but discipline needed!
Hmmmmmm to hard to resist starting my short build at 4715 lol!
#67
Posted 12 January 2022 - 08:43 AM
Haha, I've been around alot of years so its okay for me to play with it. That's just a start anyhow and for me its about feeling comfortable about my trades and I am,,,just like that my average short is 4720
#68
Posted 12 January 2022 - 08:47 AM
One main reason I'm ok with it is because with a one day rally call option premiums are screaming bullish! I'm shocked actually I was actually thinking we were going to be neutral here but that's a silly thought lol!!!
#69
Posted 12 January 2022 - 09:12 AM
MSFT all hours....backtest of the double bottom complete....next up...decision time....
Bulls had better hope they can keep the premarket pop goin'............
Edited by K Wave, 12 January 2022 - 09:16 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#70
Posted 12 January 2022 - 09:17 AM
SPY 470 level likely to be real important going forward....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy