Member
Posted 02 May 2022 - 06:53 AM
Apple super close to huge cliff edge here this AM pre-market...
Can it get one last back kiss of 159 first, or is it finally time for the rapid escalation of the rollover??
5 min though 2 hour looking looking very no bueno....with the 3, 4 hour charts on the verge of full rollover...
Only a move over the key 166, would temper my super bearishness on this one now....
So goes Apple, so goes the market???
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 02 May 2022 - 06:54 AM
As I have been sayin' for months....Watch the Mega Caps.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 02 May 2022 - 07:23 AM
OH, OK, Now I see: BERKS had a bad Quarter, explains it all.
---
2 things...that breach of 330 on BRK likely gonna turn out to be real painful for shareholders that have not bailed yet.
Good luck using longer term methods that worked during the last 40 years....the cycle has flipped.
Sell the big rallies.....already saw a picture perfect beautiful one in Naz, and there will be many more...
Edited by K Wave, 02 May 2022 - 07:23 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
Member
Posted 02 May 2022 - 07:34 AM
Oh my I'm sure the disappointment out there is huge as I read all weekend on here and other places, "the market is going to crash on Monday". When to many people are saying the same thing the market generally goes the other way. Yes the market is down and will it crash sometime, yes but now is just not the time yet. There is way more of a chance of a rip your face off rally then a crash any day. Since the beginning of the year I've been saying were going to see tons of volatility and its going to be grind grind grind. Just because the market has broken through lows doesn't mean its going to crash from there. A strong bullish pattern is a W with the right side moving lower than the left. Over and over bears have been fooled this way. Anyhow gonna be another interesting day for sure and I'm just lowering my long once again waiting for the rally to start which so far seems to be working okay. Average long now 4154 but still keeping it wide...
Member
Posted 02 May 2022 - 07:49 AM
Oh my I'm sure the disappointment out there is huge as I read all weekend on here and other places, "the market is going to crash on Monday". When to many people are saying the same thing the market generally goes the other way. Yes the market is down and will it crash sometime, yes but now is just not the time yet. There is way more of a chance of a rip your face off rally then a crash any day. Since the beginning of the year I've been saying were going to see tons of volatility and its going to be grind grind grind. Just because the market has broken through lows doesn't mean its going to crash from there. A strong bullish pattern is a W with the right side moving lower than the left. Over and over bears have been fooled this way. Anyhow gonna be another interesting day for sure and I'm just lowering my long once again waiting for the rally to start which so far seems to be working okay. Average long now 4154 but still keeping it wide...
Still too many Sunday night/Morning morning dipbuyers but market setting up for a RAPID RALLY up to at least 4250.
Appears to me as if this rally can start on Tuesday, but most likely after or during the POWELL press conference
Member
Posted 02 May 2022 - 07:53 AM
Member
Posted 02 May 2022 - 07:57 AM
Ya he kinda missed the pullback as he was super bullish about going up after 4500 was hit. His numbers always play both sides and once in awhile they do hit but no one ever really knows the exact direction. Reason why I have always liked David Larews charts as he just shows you whats going on....
Member
Posted 02 May 2022 - 08:02 AM
Oh my I'm sure the disappointment out there is huge as I read all weekend on here and other places, "the market is going to crash on Monday". When to many people are saying the same thing the market generally goes the other way. Yes the market is down and will it crash sometime, yes but now is just not the time yet. There is way more of a chance of a rip your face off rally then a crash any day. Since the beginning of the year I've been saying were going to see tons of volatility and its going to be grind grind grind. Just because the market has broken through lows doesn't mean its going to crash from there. A strong bullish pattern is a W with the right side moving lower than the left. Over and over bears have been fooled this way. Anyhow gonna be another interesting day for sure and I'm just lowering my long once again waiting for the rally to start which so far seems to be working okay. Average long now 4154 but still keeping it wide...
The tell is likely to be MSFT, as it is the only Mega Cap exhibiting possible "floor recapture" which is obviously a necessary event in your scenario.
But IF MSFT were to take out the floor AGAIN after the recapture, there is perhaps nothing more bearish than that...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 02 May 2022 - 08:06 AM
270 the level to watch on Softy...an hourly close back below that level sets up possible crash scenario...
Back above 280 again, and would reasonably likely be first sign the floor recapture may hold for bulls...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 02 May 2022 - 08:08 AM
My initial CRUDE long position (1 contract) is near stop loss .-- what to do? close, and wait for a better trade setup? or add?
I decided to add, but either August or September, at lower prices, will do so before 10am ... I expect another rally in crude until at least September and then the BIG DELCINE to below 60
