55 replies to this topic

[12SPX]

We've broke the trade pattern but history doesn't always repeat but good news is average short now 4815, ndx 17020....

[redfoliage2]

 

 

 

 

Well, today's spike on the treasury 10Y yield really does not bode well, and I see bounces in stocks likely to be sold  .....................

 

As I warned yesterday the turn-around in the yield is a red flag for stocks.  At this juncture bounces in stock market likely to be sold .................

 

It's possible the correction just started today ............

 

This is especially likely with the market in extremely over bought conditions and many waiting to sell in January as soon as the first trading day in January for tax reasons .............. 

 

 

I'm just loading up cheap puts for a possible sell-off next week with big players back in town ...........

Edited by redfoliage2, 29 December 2023 - 03:13 PM.

[12SPX]

Surprise surprise the markets down today with bond yields backing up fiercely.  Market the past month has been so fake and ridiculous with how overpriced it was.  It was another great year of profits selling option premium and trend trading with only one loss on the year.  Nice coming into the New Year with profits though with my profit stops at 4790 and 16870.  See how the cash market goes but if the 10-year yield goes over 4% again we could easily see a 2-5% correction just like the start of 2022 when the market was overly exuberant going into year end. 

[12SPX]

profit stops,, 4785,16840...may go long there for a pop at the cash open but we'll see...

[12SPX]

Out adjusting my profit stop for a 20 point profit on the ndx...  hopefully buy lower once again....

[12SPX]

Average longs 4750, 16510...