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Oldarmy, you've been waiting for your last trigger and it sounds like it was verified?

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Still waiting. I know the sideways action is boring as heck if you aren't a trader but I have yet to have a pure signal and it's only on a pure signal that I'll post it.

The international market easing can only be viewed as our own QE5 because it is keeping our rates lower than they would otherwise be. When our rates should be .5% or even 0.75% but international monetary policy is forcing to keep ours artificially low, that presents exploitation opportunity from a theoretical standpoint. Especially when debt laden companies already had higher rates priced into their future costs versus earnings. Caterpillar comes to mind in that regard.

GDP growth decelerating over the last 4 quarters:
3.9% to 2.0% to 1.4% to 0.8%

And Janet Yellen threatening to raise interest rates due to "the improving economy". Under Bill Clinton the US averaged creating over 300,000 jobs per month but under Obama we are supposed to get excited with 160,000 jobs per month. Except last month is was 38,000!

One of the worst things about being old is I am harder to fool. Just not very many surprises these days for me. One day the market will reflect the underlying deterioration in our economy and earnings. I'll leave it to oldarmy1 and you technical guys to tell me when it's going to happen. But I do know sooner or later it's going to happen.

To the guy who PM'd me this weekend asking why I hadn't posted the reversal call.....I give you this mornings +26.75 S&P. Sideways can be frustrating unless you trade the channel. It is what it is but I'll tell you when it ain't.

Shorting that 26.75 for an early scalp is what most (successful) day traders would be doing. I don't day trade, so doesn't matter to me. Let's have a great week!

I had the highest readings of a market reversal since April 20th. Not 100% still, so if I had to give a percentage confidence it would 95%. Obviously that means I would continue with my current strategy of shorting tops but I would change the sell half on these down moves to 25%.

Also, another change is the short strategy being above 18k. We most likely do not see 18k now.

To be clear, when I keep saying "sell half of your Puts or cover 50% of your shorts" that means if you shorted 1000 shares you covered 500. For example IBB 1000 short shares at $283 and cover 500 at $260, booking $23 for 500 shares. Last top posted it had made it back to $283 so short 1000 shares. It reached $260 couple of days ago so cover 500 shares for another $23/share profit. You now hold 1000 short shares with $23/share security ABOVE $283. In other words, the goal is to build a short position during this sideways action using the upper resistance as your security shield.

BTW - look at volume today on IBB....either another support bounce coming off $260 area OR if the greater market breaks down then it goes with it. I'd trade Call options on the cheap here st $275 strike.

Happy Trading!

I want to learn how to do what y'all do so badly. How did you all start? How old were you when you began learning?