We may close that gap by the end of the week on SPX

Prognightmare said:

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leoj said:

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Capitulation into the close

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That's actually healthy. If we open up down big tomorrow, I could see us closing positive.

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Support is a long way away.

buyers coming in right at the bottom/close

FriscoKid said:

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Prognightmare said:

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leoj said:

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Capitulation into the close

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That's actually healthy. If we open up down big tomorrow, I could see us closing positive.

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Support is a long way away.

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True, but I don't believe we will need to get to it. The economy is still strong, so no need to sell for an economic downturn. We do need the Fed to STFU though. The selloff and a market selloff at the open could cause capitulation for the sellers and embolden the shorts. However, a reversal would be devoid of panicky sellers and it could crush the shorts and make them cover. JMO

Reverse H&S pattern is forming on SP500 and just about every other index. Needs to hold 2700 on this right shoulder. Lots of negative BS on the financial networks. Usually a bullish sign, but price determines everything.

Prognightmare said:

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FriscoKid said:

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Prognightmare said:

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leoj said:

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Capitulation into the close

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That's actually healthy. If we open up down big tomorrow, I could see us closing positive.

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Support is a long way away.

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True, but I don't believe we will need to get to it. The economy is still strong, so no need to sell for an economic downturn. We do need the Fed to STFU though. The selloff and a market selloff at the open could cause capitulation for the sellers and embolden the shorts. However, a reversal would be devoid of panicky sellers and it could crush the shorts and make them cover. JMO

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This is a problem.

I understand the inverse H&S point too, but the yearly macro up trend was broken already. I wouldn't even think about going long until the neckline is broken. Today was a big ugly red candle that killed the "V" bounce recovery.

Agreed, I would only be especially concerned if we took out the previous low, then all bets are off. However, the underlying fundamentals of the markets and earnings remain strong. The wildcard is the Fed and they need to remain quiet.

Algos and big traders will use that obvious iH&S to take money from retail.

Fully funded my 2018 SEP and IRA's today. Ready for the flash fire selloff.

weekly candle is gone in one day

SoupNazi2001 said:

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Prognightmare said:

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FriscoKid said:

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Prognightmare said:

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leoj said:

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Capitulation into the close

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That's actually healthy. If we open up down big tomorrow, I could see us closing positive.

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Support is a long way away.

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True, but I don't believe we will need to get to it. The economy is still strong, so no need to sell for an economic downturn. We do need the Fed to STFU though. The selloff and a market selloff at the open could cause capitulation for the sellers and embolden the shorts. However, a reversal would be devoid of panicky sellers and it could crush the shorts and make them cover. JMO

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Plenty of bear markets have happened in strong economies. They aren't as severe or last as long but they still can happen.

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1987

TEUM aquires IPASS.....bad timing?

boyz05 said:

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TEUM aquires IPASS.....bad timing?

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Love the acquisition. Timing couldn't be worse.

Really would like us to hold yesterday's low so the IH&S is still in play, but I'm also getting to load up on puts today for the eventual pop on the open and slow bleeding the rest of the day.

Keep an eye on VKTX...a biotech play that released full data yesterday AH for a promising NASH drug. Terrific data and safety profile, and also have other drugs in the pipeline. Stock hit 20+ when this data was initially released, was at $10 yesterday and only popping to 13 this morning. I wouldn't touch biotechs right now with a 10 foot pole, but this is a name I think to watch and accumulate if it gets back down to $10 or below for an eventual move up when/if the sector recovers

Just like clock work. Lawyers going after BBOX.

Bragar Eagel & Squire, P.C. is Investigating the Board of Directors of Black Box Corporation (BBOX) on Behalf of Stockholders and Encourages BBOX Investors to Contact the Firm

Someone tell AVEO to quit going down

MNGA trying to run 2 days in a row. Huge volume in the first few minutes.

Seor Chang said:

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Someone tell AVEO to quit going down

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It's so ****ed up!! Just got upgraded to a "buy" on Reuters too!

I have to laugh because if I don't I'll cry.

Seor Chang said:

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Someone tell AVEO to quit going down

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"This time feels different"

And it was.

They're gonna get sued if there are a bunch of insider buys going on right now.

Buying 50% of total trade here after buying small around $2. $1.55

oldarmy1 said:

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Buying 50% of total trade here after buying small around $2. $1.55

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Give me your crystal ball!! You caught the ****ing falling knife at the bottom!!!

IrishTxAggie said:

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oldarmy1 said:

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Buying 50% of total trade here after buying small around $2. $1.55

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Give me your crystal ball!! You caught the ****ing falling knife at the bottom!!!

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Volume spike and then got fills down to $1.53.


And then the red/green reversal chart hit. Love that!

If you didn't sell AAPL naked Puts on its gap fill what you waiting for?! We wanted to wait for the gap fill, we got it, so go.

oldarmy1 said:

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If you didn't sell AAPL naked Puts on its gap fill what you waiting for?! We wanted to wait for the gap fill, we got it, so go.

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i am done selling naked but did sell a put spread. Less premium less risk and Buying power tied up.

I like that.

Also SUM entry looks great. Daily chart setting up for a red/green V.

MNGA......need need .45 to plant a huge flag in the net free ground. Basing well with rising wedge.

With all 3 markets green I'm watching for an engulfing bullish candle over yesterday to today. We hit new lows so will have to be watchful on the upside down trend day. All of the naked Puts have dropped giving over 50% profit so I take 50% off the table (unless I would be happy to get fills in case we do reverse down - I don't sell any of those i.e. APPL, NFLX, GOOG)

As I hit enter MNGA is at new high intraday $0.435

oldarmy1 said:

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MNGA......need need .45 to plant a huge flag in the net free ground. Basing well with rising wedge.

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I saw you post on here last week about MNGA so went and bought a couple thousand shares. It has been a lot of fun watching it take off this week. Thanks OA.

500k shares filled $.0.45

WHOOP!