BAC now the only financial stock green.

ROKU finally trying to show a inverse hammer today. Could the blood-letting be over? I bought back 100% of covered calls but not really fired up over the macro-market likely giving a headwind.

Remember that rule on low prices. Big money absolutely HATES for you to buy in at or near lows. Therefore if your looking at a stock that has retreated back near lows and it just sits there tempting you to enter be afraid - be very afraid! You want the flash move which precedes selloffs on lower trending stocks. We caught MOMO and SFIX just right. I'm surveying the playing field and ROKU sticks out as a potential mover early next week, but if markets continue bleeding off it will be short-lived. JD is a prime example. Fought the tape until it rolled over yesterday. NFLX did as well. BAC today as well has stayed green but is a whisper from losing it.

2600 area on SP500 is a strong trap door. It is being defended by the bulls, but the grizzly bears smell huckleberries on the other side.

drill4oil78 said:

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2600 area on SP500 is a strong trap door. It is being defended by the bulls, but the grizzly bears smell huckleberries on the other side.

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Indeed. That's why 2550 area wouldn't be the end of the line. No way do you lose major support and only drop 50. Not unless its a flash low that reverses hard off new lows like we talk about all the time. But nothing is technically viable yet.

My monthly, weekly, and daily charts all are all on sell signals. When they are al in agreement look out. Never seen the monthly so overbought. When it is like this odds are the bull is over for now and more down side to come. Just saw the QQQ close below 6600 not a good omen. I saw this in 1987 when we had the first bear in a secular bull market. Same goes today ... first potential bear in a secular bull. Not saying we go down 20% in a day, but it would not surprise me to see the markets go down 10% in a day or two of trading. The long term uptrend line can stand for a decline to 2300 +/-. Now that may be a capitulation and a huge buying opportunity for longer term investors. Every media type will be screaming the world is coming to an end at that point.

I bought some Twitter the other day. Picture perfect IHS for a significant move if the markets will allow it to complete

Said in October that key MAs crossed, all of which, since forever, led to larger sell offs than where October bounced.

One of my algos shorted in October for first time since 2015 and 2010 before that. On bright side for permabulls, macro shorts haven't gone far since 08.

My systems have been buying dips throughout, but outside of big ramps at end of October and beginning of November, all money has been made short.

Old army dead on about huge traders not giving retail easy spots to buy. Often they are not making money without harvesting retail buyers and sellers. Though, They can't hide all of their volume. Volume profile is the easiest thing to use to find support and resistance areas.

Would love to discuss the development of your algos with you as I hope to start developing and making my own in the next year.

It's uncanny how similar the current situation may be to 1994.
- President under investigation
- Trade curfuffle with another power (Japan$
- Fed cooling on rate hikes.

Really good analysis of current market in his newest video and prior videos:

Nice vid! I had forgotten about Powell's comments on 10/3, which started this correction. You can bet he's gonna be singing dove songs next week trying to save this.

VOLUME VOLUME VOLUME. Ah, claym with the sweet music to money!

badharambe said:

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Would love to discuss the development of your algos with you as I hope to start developing and making my own in the next year.

It's uncanny how similar the current situation may be to 1994.
- President under investigation
- Trade curfuffle with another power (Japan$
- Fed cooling on rate hikes.

Really good analysis of current market in his newest video and prior videos:

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This read is pretty consistent with how we've traded. Buy big on the big selloff opens near the 2620 marks. Also to cover shorts/puts. Why? Because, as stated, while we had some great moves on certain stocks and sectors the majority of stocks traded sideways or even lower the entire year.

I've never heard this gentlemen but enjoyed his presentation.

Thanks for posting.

If you're not an active trader then Ken Moraif just issued his "market alert" to get the heck out of the market and wait.

https://moneymatters.net/email-alert/time-to-sell-important-market-alert-video-from-ken-moraif/

If you are trading then it's been very fruitful.

I also hate it that the financial talking heads keep talking about tremendous value right now. Lots of the financial shows were misleading people this weekend. I wonder if they practice what they preach or if they just want people to keep money in their funds.

FriscoKid said:

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I also hate it that the financial talking heads keep talking about tremendous value right now. Lots of the financial shows were misleading people this weekend. I wonder if they practice what they preach or if they just want people to keep money in their funds.

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Keep the ship afloat as much as possible until they can get themselves out.

MU just hit a new 52wk low as did HK and WRD.

Wow. There's about to be a lot of 52 week lows.

IrishTxAggie said:

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MU just hit a new 52wk low as did HK and WRD.

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When does the sale of WRD to CHK complete, do you know?

First half of 2019 is all I could find

IrishTxAggie said:

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First half of 2019 is all I could find

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Thats what I saw as well. Was hoping there was a better estimated hard date.

FriscoKid said:

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I also hate it that the financial talking heads keep talking about tremendous value right now. Lots of the financial shows were misleading people this weekend. I wonder if they practice what they preach or if they just want people to keep money in their funds.

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In bear markets you will be hearing cheap, value, its overdone, fundamentals are strong, yada yada yada.

Just like you heard the media spouting off about the negative sentiment being positive for the market last week. Well it can go lower and when they quit paying attention to that ONE sign and others is when the market will turn.

The 3 Black Crows were out in full force in recent weeks showing the bears in full control.

We had an intraday 3 Black Crow that send us into the flash down current intraday followed by a high volume move up. We'll see if this gives a bottom but I went in with a few thousand shares across SQ, NFLX and ALGN.

And taking 50% off on ALGN and NFLX with $7+ gains on gap fill back to Friday.

Me looking at all my 401k/stocks/everything lately:

I moved all of my 401k money to cash last week.

Trading account is a different $tory.

I guess I'm sort of paralyzed by fear and uncertainty regarding my 401k. I'm 26, and am trying to make up for a year of not contributing as much as I should have. i almost want to forget about it for a few years but that could cost me some valued money.

Would you/the board recommend moving a 401k to cash or any other opportunity for the time being?

Ridge14 said:

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You're 26. Why so much fear?

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Yeah. My thoughts as well.

With ~40 years to re-coup...not sure what the concern is.

Heck...if the bottom drops out...set your auto-draft to max contribution...and buy as much as possible while it's low.

COAg15 said:

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I guess I'm sort of paralyzed by fear and uncertainty regarding my 401k. I'm 26, and am trying to make up for a year of not contributing as much as I should have. i almost want to forget about it for a few years but that could cost me some valued money.

Would you/the board recommend moving a 401k to cash or any other opportunity for the time being?

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I was 50% out for a long time, but I'm over 40.

Read the call that Ken Moriff made from the link that I posted earlier. He's well respected and has pulled all of his clients out as of this weekend. Most financial guys in the industry tell you not to touch your money and just let it ride. 100% buy and hold.

I firmly think we have topped and have been talking about it for weeks on here. From a chart prospective support has been broken. My trading horizon is much much smaller though. I'm looking for short term trades to sell with the trend. And I think the trend is lower right now.

99% will say don't try to time the market though. Just my opinion.

FriscoKid said:

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COAg15 said:

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I guess I'm sort of paralyzed by fear and uncertainty regarding my 401k. I'm 26, and am trying to make up for a year of not contributing as much as I should have. i almost want to forget about it for a few years but that could cost me some valued money.

Would you/the board recommend moving a 401k to cash or any other opportunity for the time being?

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I was 50% out for a long time, but I'm over 40.

Read the call that Ken Moriff made from the link that I posted earlier. He's well respected and has pulled all of his clients out as of this weekend. Most financial guys in the industry tell you not to touch your money and just let it ride. 100% buy and hold.

I firmly think we have topped and have been talking about it for weeks on here. From a chart prospective support has been broken. My trading horizon is much much smaller though. I'm looking for short term trades to sell with the trend. And I think the trend is lower right now.

99% will say don't try to time the market though. Just my opinion.

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Agree, but long term investors should be looking at this as an opportunity to buy in the next several months, if they are mostly out of the market. All the doom and gloom will get very loud in the next few months. Ron Paul is back talking depressions as others talking gloom and doom. It will get louder if we go down another 10-15%. The bulls are less than 20% and the bears are nearing 50% and it can go lower/higher and probably will. Even if we do go down 10%-15% the secular bull will still be intact. The last secular bull from 1982-2000 had 3 bear markets that lasted several months on average. This one will be the first bear in a secular bull that started in 2009. This could be over fast (like several months). When it is over it will be a sharp rebound, but the 2600 level will now be strong resistance. Personally I am waiting for the turn to put the cash to work that I have from selling in the past several months. The market will talk to you ....You just have to listen. Don't listen to CNBC, Fox Business, Bloomberg or any other media types spouting out their predictions, especially fundamental types.

One thing I did several weeks ago was put on Short ETFs like SH or PSQ and bought more on this mornings rally. I will let them ride until I get a buy signal on the market.

FriscoKid said:

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I moved all of my 401k money to cash last week.

Trading account is a different $tory.

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What? Why?

What's tough for me is watching my 401k drop $60,000 in the last couple months, but if I were to move it out now then that'd be realized losses. Hoping it can get back to where it was and then higher. I'm 37 so still have plenty of time in the market.

What's going on with Schwab? Down 25% off 52-week high

I recently liquidated my equity account.

I move about 20% of my IRA to cash with the plan to start rebuying gradually at some point.

Probably a mistake (buy/hold and all that), but it seems like the market will most likely continue to drop the next few months.