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Last: 56 sec ago by CheladaAg
Another great video by Chris C.
Oldarmy should especially like this, it's all about his "v" that he looks for on an intraday reversal.
Enjoy!
Oldarmy should especially like this, it's all about his "v" that he looks for on an intraday reversal.
Enjoy!
Informative video. We will more than likely get a retest in the coming weeks off the 50dMA and/or resistance in the 2600 region. It would be healthy if we do. When you have the indexes trading below declining MAs it takes time and a base to explode up through the MAs and over head resistance. Especially the resistance we have at this time. I believe we are in a bottoming process. I doubt we set new lows on a retest and hope we don't as that could be a negative. The low set around 2350 on SP500 in Dec is probably a good low considering the massive volume on that day. We are not in the 1987 time frame as it was the beginning of the 1982-2000 bull run, but probably beginning the 3rd leg of this secular bull started in 2009. The next few years could be very good returns. We are over bought on the daily side but are in good shape on the weekly side. I would like to see the longer term monthly get more over sold for an explosive move to the upside and that may take a few more months of consolidating. As the video pointed out buying in this area especially on any retest will be more than likely very profitable in the coming years.
The way the Euro has been trending, I don't think it will matter.
Interesting perspective I heard on this was to consider who is actually rioting. It appears to be people in the middle of Paris. Parisians who got went crazy over additional taxes to gasoline. potentially showing how much people are hurting over there and creating a larger expectation that their next election could have a very strong populism movement.
I believe the populist will win but it's grown beyond gas. Look at the last page on France is Burning thread on the Politics board.
It's nut-cracking for the market. The next few weeks are going to be super fun. There's a lot of traffic here for the market at 2600-2650. 50% Fib retracement is at 2643 and the 50MA is around 2630. A lot of congestion.
This IWM chart is just crying to go short. Would love to do it at 145
This IWM chart is just crying to go short. Would love to do it at 145
Totally agree! Posted this a few days back. Exact same mentality except with spy.
badharambe said:
One key level I'll be watching is around the 50-day moving average (SPX ~2640), which coincides rather nicely with resistance tracing back to mid-November AND ~2640 is the 50% retracement mark.
just my two cents, we will see what ACTUALLY happens, if we even get to this level.
Thanks for posting, I will be looking at some IWM puts tomorrow. What time frame would you recommend?
I'm looking at the 142 January 25 puts. Premium
Is so cheap. The 139 is only .70
Is so cheap. The 139 is only .70
Thank youDan Scott said:
I'm looking at the 142 January 25 puts. Premium
Is so cheap. The 139 is only .70
even with earnings season coming up?Dan Scott said:
I'm looking at the 142 January 25 puts. Premium
Is so cheap. The 139 is only .70
Need a retest of the lows over the coming weeks/months. That would be the healthiest thing to happen for continuing the major bull market forward. Need a base formed for a powerful move up. Personally I am fairly confident we have seen the lows. We just need to retest the 2350 low in the SP500. Negativity would increase even more if we get a retest. The bears would come out of every crevice spouting how smart they are.
drill4oil78 said:
Need a retest of the lows over the coming weeks/months. That would be the healthiest thing to happen for continuing the major bull market forward. Need a base formed for a powerful move up. Personally I am fairly confident we have seen the lows. We just need to retest the 2350 low in the SP500. Negativity would increase even more if we get a retest. The bears would come out of every crevice spouting how smart they are.
Futures down 20+ points early this morning
Newmont Mining is buying Goldcorp.
I think it's a great time to buy and hold. Markets are at a low and looking for a reason to jump up.
I think we give back some of this recent move off the lows. If that occurs, then I'd take some long positions that I want to just hold onto.infinity ag said:
I think it's a great time to buy and hold. Markets are at a low and looking for a reason to jump up.
Ouch, JD down 5%
ROKU showing impressive strength
https://seekingalpha.com/news/3422713-citi-trims-roku-target-forecasts
I hate Citi.Quote:
Roku (NASDAQ:ROKU) is down 0.5% after Citi trims usage forecasts and cuts its price target to $44 from $60, pointing to higher costs.
Analyst Mark May says competition will hold down active account growth, and he's forecasting higher expenses in accounting for international investments.
He's Neutral on the shares; the $44 target now implies 11.8% upside.
update: sold this position on the spike this morning at $9.25. $200 profit or ~28%. Tomorrow the IPO lockup expires and I decided not to gamble through that.Ragoo said:
Bought a TLRY call this morning out 2/15 for 7.25. Already up over 8.35.
NIO with a breakout
Looks like PG&E is royally fooked! Likely filing Chapter 11 by the end of this week.
The Najarian brothers said people are putting big bets and buying calls on MU and Keycorp and they are too. They're only looking at holding them 2 weeks, FWIW.
Stepping out of meetings and took a look across the landscape.
Good decay activity for all the covered calls while we wait and see direction. That is a flag forming on the S&P so don't just think its time for a pullback with a lot of Put/Short activity.
Good decay activity for all the covered calls while we wait and see direction. That is a flag forming on the S&P so don't just think its time for a pullback with a lot of Put/Short activity.
BAC calls rocking on breakout
I've been long BAC since the financial crisis and have been buying calls since then. Bought a handful again on your latest recommendation. I think we see $27+ soon.
I am currently completely out of any option trades. Trying to get a better sense of where we are going. The action lately makes it feels like the market is moving sideways into earnings. Yeah there was a gap down but quickly reverted back to the EMA.
WYNN $120 strike Jan 25 Calls hit the entry price discussed last week on pullback.
Well this chart is a bit disturbing...
I'm not saying the growth will continue to be the same or improve, but did they not see the announcement on account growth and streaming hours last week? I wonder if this is only due to the Amazon IMDb announcement last week.Prognightmare said:
https://seekingalpha.com/news/3422713-citi-trims-roku-target-forecastsI hate Citi.Quote:
Roku (NASDAQ:ROKU) is down 0.5% after Citi trims usage forecasts and cuts its price target to $44 from $60, pointing to higher costs.
Analyst Mark May says competition will hold down active account growth, and he's forecasting higher expenses in accounting for international investments.
He's Neutral on the shares; the $44 target now implies 11.8% upside.
Prognightmare said:I think we give back some of this recent move off the lows. If that occurs, then I'd take some long positions that I want to just hold onto.infinity ag said:
I think it's a great time to buy and hold. Markets are at a low and looking for a reason to jump up.
Yes, there's been some gains YTD and I think some of it will be given back, but then I don't think we go below where we were on Dec 31. So if you buy now and hold through, you should be up after 3-6 months.
From this year, I have started an account purely for playing momentum. This is outside my IRA and my regular trading account. The plan is to use the short term gains for things like vacation, home improvement, kid's expenses and other short term needs/luxuries. Let's see how it goes.
Citi and a couple of other analysts are some of the worst. They'll upgrade stocks at their highs and downgrade them at their lows.
Pay a lot of attention to OldArmy1. You will learn a ton and profit more than not if you do.infinity ag said:Prognightmare said:I think we give back some of this recent move off the lows. If that occurs, then I'd take some long positions that I want to just hold onto.infinity ag said:
I think it's a great time to buy and hold. Markets are at a low and looking for a reason to jump up.
Yes, there's been some gains YTD and I think some of it will be given back, but then I don't think we go below where we were on Dec 31. So if you buy now and hold through, you should be up after 3-6 months.
From this year, I have started an account purely for playing momentum. This is outside my IRA and my regular trading account. The plan is to use the short term gains for things like vacation, home improvement, kid's expenses and other short term needs/luxuries. Let's see how it goes.
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