Triple_Bagger said:
Good catch FJ. Looks like the last one we had this clean was January 12th. We dropped from 470 to 421 before getting a bounce after that one.
Not at a computer. Where were we then? Above 8/21 EMAs?
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Not at a computer. Where were we then? Above 8/21 EMAs?
Yes, we were above the 8/21 EMAs. Also above the 50 and 200, which we're below this time.BrokeAssAggie said:Triple_Bagger said:
Good catch FJ. Looks like the last one we had this clean was January 12th. We dropped from 470 to 421 before getting a bounce after that one.
Not at a computer. Where were we then? Above 8/21 EMAs?
Thanks. Will be interesting to see if we get the same action. VIX closed around $26 today.
Triple_Bagger said:
Good catch FJ. Looks like the last one we had this clean was January 12th. We dropped from 470 to 421 before getting a bounce after that one.
I'm just looking at and studying charts. Night time homework of sorts. Noticed the candle and price action right off.
Don't know what direction we go. I see bullish and bearish sentiment on Fintwit and could probably build a case either way. All I know is the 100 crossed the 200. Alerted to the death cross back on May 4. We are below the 50. Rejected at a long time level (416.30s) I've traded over and over against.
But the EMAs are crossing to the bullish side otherwise.
For me my job is to protect capital not try and catch the tops and bottoms. I don't mind missing some of a move. Just try not to have a bias.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
I thought the pattern from Friday and today looked familiar. Should've bought puts but wanted to wait for confirmation….something about capital preservation.
Looks like down is the probable next move.
BaylorSpineGuy said:
Looks like down is the probable next move.
Below todays low and I'll lean bearish. Above todays high and I'll lean long.
For the short term anyway.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Couple the technical analysis with the headline of QT.
.@POTUS meets with Fed Chair Powell and Treasury Sec. Yellen to discuss bringing down inflation, which he said was his top priority. pic.twitter.com/2p0j5NQWS4
— Jeff Mason (@jeffmason1) May 31, 2022
Treasury Secretary Janet Yellen on downplaying inflation risks: "I was wrong." pic.twitter.com/FEpLeJTAEc
— Breaking911 (@Breaking911) May 31, 2022
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Wow check out today's SAVA short volume.!
If that doesn't include short closing, which it shouldn't to be relevant, that's a lot of shorting to keep this from popping. Could actually be some big new money getting in long.
If that doesn't include short closing, which it shouldn't to be relevant, that's a lot of shorting to keep this from popping. Could actually be some big new money getting in long.
The beauty of this is that there's no actual accountability. If an individual makes a catastrophic error at his or her job, likely they get fired and have some bad letters of rec that chase them around for a while.
She has no culpability. Millions of lower middle class Americans are being actively savaged by the worst inflation in almost a half century and the solace we have to rest easy is "I was wrong". Does that give any sense that she has it right at this point in time? They tell us low risk for recession but they got inflation wrong by a country mile…..trust them now?
Bureaucrats are incredible creatures.
She has no culpability. Millions of lower middle class Americans are being actively savaged by the worst inflation in almost a half century and the solace we have to rest easy is "I was wrong". Does that give any sense that she has it right at this point in time? They tell us low risk for recession but they got inflation wrong by a country mile…..trust them now?
Bureaucrats are incredible creatures.
Month of May. 95% of which were 0-1 DTE QQQ. In the month of June I am going to move to 3+ DTE. I traded those today and I like the way they move much better.
If I can just learn to cut losers quicker I will be doing alright.
I will get this!
PS I apologize if some of yal are beat down by making my "trade journal" here. I think the pressure of knowing I'm going to post it everyday will only have positive benefits for me.
Edit to say… a couple of those red days were quite large.
If I can just learn to cut losers quicker I will be doing alright.
I will get this!
PS I apologize if some of yal are beat down by making my "trade journal" here. I think the pressure of knowing I'm going to post it everyday will only have positive benefits for me.
Edit to say… a couple of those red days were quite large.
FJ43 said:
Hmmmm.....
Personal take. Even with the profit taking we had today, we managed to keep most of fridays gains. Seems bullish. Are we at a known SR that I haven't considered?
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Not beaten down at all. I enjoy reading it!
Karsan was calling for the Summer of George…..I believe he was implying laziness in the market. Remember….George did nothing that whole summer and developed "advanced atrophy" which caused his injury.
Similarly, we closed in May almost exactly where we opened. So are we gonna be having a bunch of monthly doji-like candles where people hedged long and short get beat in both directions? Followed by a big down move late in summer?
Similarly, we closed in May almost exactly where we opened. So are we gonna be having a bunch of monthly doji-like candles where people hedged long and short get beat in both directions? Followed by a big down move late in summer?
irish pete ag06 said:
Month of May. 95% of which were 0-1 DTE QQQ. In the month of June I am going to move to 3+ DTE. I traded those today and I like the way they move much better.
If I can just learn to cut losers quicker I will be doing alright.
I will get this!
PS I apologize if some of yal are beat down by making my "trade journal" here. I think the pressure of knowing I'm going to post it everyday will only have positive benefits for me.
That's what this thread is for.
You don’t trade for money, you trade for freedom.
Re: cutting losers fast. You can't know In advance which way the market moves. You cut as soon as you think you're wrong.
Sometimes you end up being right in the end. If you look at my P&L from today, you'll notice I cut when I thought I was wrong only to rebuy later when the setup showed itself again.
Sometimes you end up being right in the end. If you look at my P&L from today, you'll notice I cut when I thought I was wrong only to rebuy later when the setup showed itself again.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:
Re: cutting losers fast. You can't know In advance which way the market moves. You cut as soon as you think you're wrong.
Sometimes you end up being right in the end. If you look at my P&L from today, you'll notice I cut when I thought I was wrong only to rebuy later when the setup showed itself again.
Yes, cutting a re-entering! That's what I gotta get better at. Not averaging down.
Does anyone have any thoughts on MULN?
BaylorSpineGuy said:
Karsan was calling for the Summer of George…..I believe he was implying laziness in the market. Remember….George did nothing that whole summer and developed "advanced atrophy" which caused his injury.
Similarly, we closed in May almost exactly where we opened. So are we gonna be having a bunch of monthly doji-like candles where people hedged long and short get beat in both directions? Followed by a big down move late in summer?
We could get all deep when talk about the summer of George….
I mean what was supposed to be the summer of George ended with him saying "this was supposed to be the summer of George!" And when you consider George and how he's a horrible human being with no work ethic, the results actually reflected a summer of himself.
All that said, I'm no expert, but I think we test the upper bear channel line. From there we crash hard.
Speaking from my own personal experience. Doing that only results in you riding a bad stock even further down.
Well today it was a put opion that I held too long. The play ended up working, but would have been much better just cutting it and re-entering before letting it run down to a -50% for a bit of time.Philip J Fry said:
Speaking from my own personal experience. Doing that only results in you riding a bad stock even further down.
Philip J Fry said:FJ43 said:
Hmmmm.....
Personal take. Even with the profit taking we had today, we managed to keep most of fridays gains. Seems bullish. Are we at a known SR that I haven't considered?
416.30s have been an SR I've traded into and over multiple times. If we confirm above then not much to 420, 426ish.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Mornun!
Mixed around the horn.
US mixed
EU mixed
Asia mixed
Wont be able to trade much and if so will only focus on SPY unless an alert goes off.
Some levels for you degenerate scalpers today. White are rough SRs to trade against. Red are key SR levels IMO. For me would love to see a backtest if that 406.80ish range and then go long.
Trade wisely!
Mixed around the horn.
US mixed
EU mixed
Asia mixed
Wont be able to trade much and if so will only focus on SPY unless an alert goes off.
Some levels for you degenerate scalpers today. White are rough SRs to trade against. Red are key SR levels IMO. For me would love to see a backtest if that 406.80ish range and then go long.
Trade wisely!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Long time lurker here...does anyone follow larry williams? Cramer is backing his technicals big time and LW basically called a bottom last wk and thinks we go up through Sept 1st based on his historical views
wofo_db said:
Long time lurker here...does anyone follow larry williams? Cramer is backing his technicals big time and LW basically called a bottom last wk and thinks we go up through Sept 1st based on his historical views
#FADECRAMER
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Yes, but late. In at 1.50....will have relatively tight stop thoughJet Black said:
Does anyone have any thoughts on MULN?
I don't follow LW, but doing the opposite of Cramer should net you a Lamborghini by Christmas.
Do we think AMZN will have another 5% green day again? already up 3.5%. If today is a early morning reverse this one is a candidate to fall.
It's absolutely possible. Split run up will damn the technicals.
Fine by me... I own a few shares sub $2000 cost basis. Let er run I say!
Fine by me... I own a few shares sub $2000 cost basis. Let er run I say!
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That's an odd second 5 minute candle there on the macros. I was planning to buy TSLA and SPX calls, but now instead I'm going to wait a few more minutes to see if we hold above today's opening price.
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Ok in on TSLA 770C just now.
AMZN did 1/5 of it's 10 day avg volume in 15 minutes.
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Bob Knights Liver said:
Ok in on TSLA 770C just now.
I'm out of these for $2/share gain. Not great but better than a loss.
AMD wants to go