If you follow Elliott wave technical then BAC is coming off a 3 waves down which is read to be a pivot point to 3 waves higher. Get to it so my options rise from the dead!
oldarmy1 said:
CRON spike on Altria investment news. Pot stocks getting lift
claym711 said:
PPT put in some strong work over the past 24 hours. Must send Jerome a box of chocolates.
Good calloldarmy1 said:
Be smart. We filled the gap today which is one of those upside down downtrend days until/unless we break through upwards.
Well I hedged my MOMO buys but am still down 3% on that trade right now (with hedge that is my limit loss). Have to decide into close how to play it with option hedge expiring. It has a reverse head and shoulders formed on the daily so technically it is saying its gonna shoot back above $25 firmly.FriscoKid said:Good calloldarmy1 said:
Be smart. We filled the gap today which is one of those upside down downtrend days until/unless we break through upwards.
Hope everyone has a nice weekend. Going to go lick my wounds for a little bit. Not as bad as it could've been, but still a ****ty day...oldarmy1 said:
New day low on S&P
Agree with your 2nd paragraph but that sure looks like an engulfing candle on the S&P and DOW.claym711 said:
CME stepped in on Wed's flash and Fed was buying yesterday. I doubt theres gonna be any bearish engulfing today. Fed will step in.
For bulls over next few weeks, we might get a 'surprise' no rate hike in December, but will be priced in by the time its announced. As the 2019 picture has become more clear, Fed has become more and more dovish. Its going to be a tough market for dip buyers over the next year. Liquidity is lord of the flies, leading to extreme whiplash moves. You can create a peak market list and several boxes are gonna be checked off in 2018. Economy will be soft next year with little room to ease, no QE, less buybacks, "trade war", and low liquidity. Its going to be a wild market for a while.
Reprieve just as you typed itFriscoKid said:
Looks likes it might sell into the close. Fairly constant trend all day. At the trendline now. could even be some late day panic at LOD.
Trump Tillerson TweetFriscoKid said:
? Trump didn't say anything.
Your darn skippy!FriscoKid said:
Well, that's why it's a bad idea to trade at the line.
snowmnag970 said:Trump Tillerson TweetFriscoKid said:
? Trump didn't say anything.
"Mike Pompeo is doing a great job, I am very proud of him. His predecessor, Rex Tillerson, didn't have the mental capacity needed. He was dumb as a rock and I couldn't get rid of him fast enough. He was lazy as hell. Now it is a whole new ballgame, great spirit at State!"