263 replies to this topic

[dTraderB]

A hard, frustrating, and vexing day of trading but the reward is still worth it: 0.26 % net account gain

 

Tiring easily now after 5 months of intense trading.  Note the HOURLY ES CANDLES with long tails - usually bullish but the LAST CANDLE just could not hold on GREEN and finished red, and also made the LOW of the day. 
No doubt about it -- SELLERS still far more motivated than BUYERS and are picking their selling levels. If they have such a luxury then they are more confident than bullls and still hold the upper hand. However, I seem to remember instances of this type of behavior many times in the past 35 plus years in the markets and my FF is the markets could still make a new 2022 LOW but BULLS will regain control and rally at least 10% in June. 

 

Opened new AMZN position in LT with just 100 stocks

did not get a fill in AMZN CALLS but will try again tomorrow; I should have adjusted the order to ensure it was filled today but markets were too erratic so I could not spare the time to watch OPTION CHAIN screens

[dTraderB]

that was an annoying last half hour of trading!  

I am still leaning LONG but it is now getting down to low 4100 and BULLS must hold it here or at least above ES 4080

 

Going into the close going for a long build 4110!!!  

 

And just like that got stopped out as I adjusted to a profit stop of 4120 for 10 points, try again at 4110 see if it hits

[K Wave]

Still getting CRE deals sent to me from the 1031 stuff...

 

FINALLY starting to see price cuts

 

CVS in Houston just went to 8.4M from 8.9M a month ago....still overpriced, but looks look like the unwind may finally be starting...

Edited by K Wave, 06 June 2022 - 03:44 PM.

[dTraderB]

Resting, not trading tonight...  seems as if markets setting up for big rally

 

OIL supply situation -- and gasoline prices etc -- easing with increased OPEC output, and even this:

Washington gives Eni and Repsol the green light for oil-for-debt deals w/ Venezuela. US goodwill gestures are building up but Chevron will likely not get a better deal until Maduro shows some advances related to talks in CDMX as well as “free and fair” elections.

 

CHINA not so quietly easing, tech stocks rallying, and this :
 

"SHANGHAI PORT'S DAILY VOLUME HAS INCREASED TO 95% OF NORMAL LEVELS."

BOJ'S GOVERNOR KURODA: BOJ WILL HELP THE ECONOMY BY MAINTAINING AGGRESSIVE MONETARY EASING.

 

[brucekeller]

I want to get bullish and think 5/20 was the bottom, but kinda odd we are going up into CPI / June Fed Meeting+OPEX. Making a double bottom next Wed makes a lot of sense, especially after $CPC reached .6 Monday morning.

[dTraderB]

I agree with there is a high probability of a new 2022 LOW, possible double-bottom, but it seems to me that much of the BAD NEWS has been priced into the market, hence the resilience from late May to now. With markets about 3% lower from recent swing high I am going to abandon my cautious stance and start buying more aggressively. 
Note that even a 0.1% drop in CPI will be be interpreted bullishly  -- peak inflation is behind us etc etc; if the FED sounds more hawkish then all bets are off.

 

I want to get bullish and think 5/20 was the bottom, but kinda odd we are going up into CPI / June Fed Meeting+OPEX. Making a double bottom next Wed makes a lot of sense, especially after $CPC reached .6 Monday morning.

[dTraderB]

Adam Mancini

 

@AdamMancini4

·

10m

 

Day #7 of 100 point range trading. I posted 4085 was key support likely to test overnight & here now. Decision time, but weak reaction for bulls despite hrs here Plan today: Unless bulls can pop >4100 to trigger upside/longs, #ES_F likely to dip further to 4073, 4035 bounce zone

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Adam Mancini

 

@AdamMancini4

· 9h

Overnight update #ES_F: Working down the levels overnight here after losing 4135 support earlier today and 4080-85 next down and should test soon. Bulls will need to hold it and spike > 4100 to set a low. 4085 fails we sell to 4035 tomorrow next bounce zoneAdam Mancini

 

[12SPX]

Morning, or its just grind grind grind, lots of volatility going nowhere fast, directionless trading lol!!  Anyhow building long at 4190 seeing how the cash market opens, sure there will be a rally in here somewhere for the day.  Key I think is how that 10-year goes would be nice to see it under 3% once again!! 

[pdx5]

I am still sticking to my FF posted here before that 3500 will be visited by SPX in 2022. With So many head winds, that seems most likely.

[12SPX]

Yup may be true, could see it but its not going to fall straight there, were not in that type of market, maybe September, fall period....