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THE BOUNCE: Trappy & Treacherous, then retest 2022 LOW


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#431 K Wave

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Posted 20 May 2022 - 11:57 AM

Make a note to yourselves that next time you see an hourly chart breach like Tesla did after earnings, not a good time to try and pick up nickels in front of the steamroller...

 

tsla.png


Edited by K Wave, 20 May 2022 - 11:58 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

 

 


#432 dTraderB

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Posted 20 May 2022 - 12:03 PM

and the ALGOs have run amokkkkkk... !!!

 

 

YEAH, getting into severe oversold, bounce territory....  but on an OPEX FRIDAY.... this thing can drop real hard.... 

 

I am checking STOP ORDERS, setting a few, but I prefer to take the loss on most of it now, rather than STOPPED OUT and then reopening.... or ROLL FORWARD ....

Today, loss of 3925 was downside trigger to 3890, 3815-20 and en route. #ES_F stalled at 3850 zone and its no coincidence, being the formal "bear market" level + backtest of Presidential inauguration This is should cave, seeing 3815-05 which is next bear market bounce zone

 



#433 K Wave

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Posted 20 May 2022 - 12:09 PM

First 2 handles on BRK...


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

 

 


#434 K Wave

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Posted 20 May 2022 - 12:11 PM

wonder at what point full panic sets in on TSLA....


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

 

 


#435 K Wave

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Posted 20 May 2022 - 12:14 PM

maybe just about time for the intraday ramp into 2:30?

 

although with the current environment that might be wishful thinkin'


Edited by K Wave, 20 May 2022 - 12:16 PM.

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

 

 


#436 dTraderB

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Posted 20 May 2022 - 12:14 PM

That ES 3700 mentioned in an earlier post today is just around the corner.... and this BLACK FRIDAY plunge could be continue into MONDAY

But, this is extreme selling, oversold, desperation, lack of bids, bid-less almost.... reminds me of previous significant LOWS.. 



#437 K Wave

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Posted 20 May 2022 - 12:15 PM

Softy finally made fresh low too..


Edited by K Wave, 20 May 2022 - 12:16 PM.

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

 

 


#438 dTraderB

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Posted 20 May 2022 - 12:15 PM

TLT almost 119

will close at least 15 of remaining 32 CALLS



#439 dTraderB

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Posted 20 May 2022 - 12:16 PM

UVXY still below 18

looking for a spike up above 18.25

TLT almost 119

will close at least 15 of remaining 32 CALLS



#440 K Wave

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Posted 20 May 2022 - 12:24 PM

IF VIX manages to clear 35 today, sky's the limit for next week...


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