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UP ES 4250-4300 then big AUGUSTG REVERSAL


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#41 K Wave

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Posted 04 August 2022 - 09:11 AM

If all are convinced this is a bear market rally then how can that possibly be true?

 

Mega.png

 

Mega2.png

 

https://www.finvids....Wedge-Asc-Desc/

Will be watching Apple once this leg finishes, which may be real close now.

 

If bears cannot reclaim 158 area on the down wave, then as incredibly overvalued as Apple is, could possibly still have some life left.

 

A reclaim of 158 though, and buckle up for next few years...


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

 

 


#42 K Wave

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Posted 04 August 2022 - 09:16 AM

saw an article yesterday...retail is back to All In on TSLA now.

 

Nearly as much as when at the ATH. After yesterday and today, may have exceeded it.

 

Will be real surprised if TSLA anywhere near these levels come October.


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

 

 


#43 dTraderB

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Posted 04 August 2022 - 09:39 AM

DAYTRADING tesla puts

 

NOT INTENTIONAL but moving fast, larger ranges



#44 dTraderB

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Posted 04 August 2022 - 10:27 AM

Starting new NVDA PUT position

 

Reduce TESLA PUTS position .... back below 920

 

Will close another 2 or 3 that are GREEN 

 

Holding 9



#45 dTraderB

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Posted 04 August 2022 - 10:29 AM

Markets look tired, uncertain, and CHINA/TAIWAN & EU energy issue, as well as UKRAINE situation burdening the bulls



#46 K Wave

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Posted 04 August 2022 - 12:31 PM

Bulls still battling away to keep VST uptrend intact....

 

TSLA and Apple need one more test down to finally break things most likely.


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

 

 


#47 steadyquest

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Posted 04 August 2022 - 02:32 PM

Something akin to this is what I've been hoping for (along with everyone else) - bringing tqqq into single digits.  But it's looking as though nothing shy of a nuke on US soil could take these markets lower.  Too many bears and too much funny money and speculation, tsla being a prime example with a P/E of 111, while ford sports a P/E of 5.4 and yeild near 2%.  Lots of folks still infected with crazy and there is no vaccine on the horizon.  And sadly (for me), the only known cure for stupid is euthanasia, and it's arguably worse than the disease.

 

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#48 dTraderB

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Posted 04 August 2022 - 09:18 PM

Two EW experts I follow have forecasted this rally is almost over with ES 4200-4220 being the top. My FF is at least ES 4250

 

Something akin to this is what I've been hoping for (along with everyone else) - bringing tqqq into single digits.  But it's looking as though nothing shy of a nuke on US soil could take these markets lower.  Too many bears and too much funny money and speculation, tsla being a prime example with a P/E of 111, while ford sports a P/E of 5.4 and yeild near 2%.  Lots of folks still infected with crazy and there is no vaccine on the horizon.  And sadly (for me), the only known cure for stupid is euthanasia, and it's arguably worse than the disease.

 

Qs.png



#49 dTraderB

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Posted 04 August 2022 - 09:19 PM

This is true? Then BAD NEWS IS GOOD NEWS for the market and ES 4250 will be traded tomorrow, after the initial shock plunge

 

The Plot Thickens White House says the July jobs report will come in at 150,000 not consensus of 250,000 (MS at 300,000) and unemployment rate will remain low. Characterizing this as "stable" instead of "freefalling" is the PR angle. Always a PR angle. See you in morning.


#50 dTraderB

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Posted 04 August 2022 - 09:23 PM

This has been a choppy and difficult trading week but I reduced risks by focusing on NQ daytrading, placing LIMIT orders to open SPY & QQQ PUTS, and limited trading in UVXY and TLT CALLS. 

Also, high risk TESLA PUTS that has so far been profitable, still holding 7 more as TESLA rallied late, and 1 NQ and 1 ES HEDGE LONG. 

 

Looking for a top tomorrow or Monday... then another bear market leg down

 

If there is no leg down then the BEAR MARKET has ended and rally resumes next week