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I'm still holding. There's a trend change on Sept. 4/5. Don't know if this will mark a high or a low.
Would be nice to see a 20+ point drop tomorrow. Tomorrow is the last trading day of the month. I expect a sizable move in either direction tomorrow with a counter direction move on Tuesday after a long weekend.
FWIW,
df
O.K., I doubled my position. If the NDX goes positive again today, I'll add more.
RSI 5,1 and confirm it with, in order, rsi 14, 1, rsi 14,13, and fast sto 14,3
df
Geez, I think someone needs to smack me upside the head. I'm extremely euphoric right now over the NDX.
Green tomorrow at anytime is an f-ing gift, imo.
Please give me a green open and I'll triple my SQQQ position.
Am I missing something? Am I crazy?
df
OK......wishing good luck.......but I think you'll be fine,
Fletch
PS I haven't had hardly a down day......with GILD and SWIR of late. SWIR looks like it peaked for now tho.
Alright, I couldn't resist! I'm in @ 35.91 (SQQQ).
I have an EXTREME overbought reading on my favorite indicator for $NDX.
Wish me luck!
df
Hi Fletch,
I don't think it would be unreasonable to expect $38.20 for SQQQ on a pullback in $NDX. If the $NDX is green at the close and opens green tomorrow, that would be a "gift", imo. One I couldn't pass up.
I'm going to try for a small position in SQQQ today. And, add to it tomorrow. That's the plan, anyhow. :>)
df
Yes, I sold UPRO @ 122.47 this morning. I'll look to re-enter in a few days.
Looking to enter SQQQ for a short term trade. There's an open gap @ 37.87 , 40.29 and 41.14 on the daily chart. Currently trading @ 35.62
df
DUST gap filled. :>)
2182 (S&P 500)
I have a wave 3 ending @2182.
Let me explain: In my previous post, the 3 ending at 1994 is the w3 of a Wave 1.
2182 would be a 3 of 3.
S&P 500 Outlook: I've got 5 waves down on the daily chart from 1991.39 to 1904.78 (July 24 through August 8)
In my experience, after 5 waves down, a very nice move follows.
I have a wave 1 from 1904.78 to 1944.90. A quick one day wave 2 to 1928.29
This current move from 1928.29, should take us to 1993.20, in a wave 3.
As usual, all imho, let's sit back and see how this unfolds.
df
P.S.: Expiry on Friday. :>)
Looks like a good area to buy DUST. I bought this morning @ 15.4848. looking for the gap @ 16.30 to fill.
IMHO,
df
Looks like it was a little covering near the close. :>)
1/2 hour of trading left today.
Will shorts cover for the weekend... or... push their luck with their profits and hold through the weekend...?
Will the shorts over stay their welcome....?
Hi Fletch,
I'm fine. I hope you are, too.
Bought XIV in afterhours tonight. I'm in @ 39.14
Hey df,
Hope you are well and think you are right on the low.
Fletch
I'm going to go out on a limb here, due to the VIX 7 day ROC, and call today's close a LOW on a closing basis: $Spx.c 1930.76
Now, let's sit back and see how this unfolds. :>)
All IMHO,
df
I'm still looking for 2070 on the $spx.c
If I see anything else, I'll post an update.
df
This is expiry week. I wouldn't be surprised to see the $NDX hit 3619 and the S&P 500 hit 1829 before resuming the upward path to the w3 targets I posted earlier today.
df
O.K., the target I had in my notes dated 03-04-2014, is 2039.
So, I'm looking for a 3rd leg up on the S&P 500 to end between 2039-2075.
If the 03-14-2014 low gets challenged now, I'll go back and recalculate and post it here.
df
Again, assuming we put in a "2" down on the 14th, I've got a target of 4143 for the $NDX.
Hi Fletch,
I've got a target of 2075 -/+ a few points. That's using fib and assuming we've put in a 2 down on 03-14-2014.
I'll update if I see anything different. I'm not home now, but somewhere I believe I have written down a target of 2205 for the S&P 500.
df
If this pullback stops around the 1806 area, I believe the S&P 500 will go to 1982 +/- a few points.
Also, I have a target of 43.30 for XIV.
FWIW,
df
Hey df,
Down here it's speakled sea trout and redfish are the ones most sought after. Supposed to be lots of different kinds of fish off shore.
I went on a couple of eastern basin Erie Walleye charters and the fish were 5-15 lbs. No fight really.....just drag them in. Walleye and Perch are very good tasting for fresh water fish.
I have a 21' open bow boat I use mostly on the finger lakes for fishing. At home, on Friday's, most go out for Haddock fish fries.
Google earnings were good and going to split. I'll need a good entry back into FB as they gapped up on earnings.
Best,
Fletch
What kind of fish are you fishing for? I haven't fished in 25 yrs or so.
I used to fish the Lake Erie Western Basin for walleye and perch. Tolling or drifting in a boat worked best. Never had any luck from shore.
Was just thinking yesterday how I'd like to go walleye fishing again sometime.
Anyhow, maybe we started a nice rally here today. I've been trading XIV the past few days and a couple of VXX trade mixed in yesterday.
df
Hey df,
Not sure what will happen. I'm at Grand Isle State Park south of New Orleans in our RV. No TV but do have sporadic wi fi lol. Sold FB because it may tank on earnings. I won't be home for at least a couple more weeks. Where we live has been bitter cold. Very windy and freezing here last night. Fishing has been slow with it much colder then usual.
Best,
Fletch
Anyone think the Fed will provide us with a rocket launch around 2:15 p.m. today...?
Could go green, then go negative leading up to the end of the meeting, then blast off.
Or, green until meeting end and then sell off....
Fun times!
Fletch,
Looks like British money will becoming our way, too:
http://armstrongeconomics.com/2014/01/24/europe-outlawing-short-selling-and-there-goes-britain/
I was looking for 101.61 on UDOW. It hit 101.14 (so far!) today. I'm in @ 102.54
Looking to buy xiv in the 32.70-33.15 area.
Lots of earnings next week by tech companies. Could be the excuse to hit 4113 on the $comp.
I believe the DOW is leading and will turn and go higher before the naz and sp500.
Emerging markets getting taken to the woodshed. I think some of that money finds it's way into U.S. stocks.
df
Hey df,
First time the SnP has broken the 50 day since Oct.
Could be we are beginning a 5-10% correction. Healthy pull backs better n crashes LOL.
Best,
Fletch
Looks o me like the $comp is heading to 4113.75
Also, looks like the DOW wants to rally from here.
Seems like the DOW is leading the other market. Peaked higher, now making a low before the naz and sp500.
fwiw,
df
DUDES!
Fletch,
Hope your wife is well, as well as yourself.
Cort,
Good to hear from you.
And a shout out to wahz, where he is (lol!)
Hey Cort,
Very good to hear from you!
The wife is doing very good except for some chemo side effects.
Yes, this bull market has made patient stock pickers happy and a lil richer.
MU was found doing a chart search where it was a cup with handle pattern. Lucky it's earnings took of at the same time the handle finished forming :>).
I still have my $70 AAPL shares but have traded some extra shares off and on. GOOG has been real good too and glad I learned to hold the winners n trim the not so good.
Recent buys are IVR that's a dividend paying REIT, priced below book and has insider buys. Also bought SWIR as the Motley Fool is saying it's the stock play of 2014 and will change the internet as we know it. I just liked the chart until I bought it LOL.
Live long n prosper,
Fletch
Hi Guys.
Such a long time... .
Fletch, sorry to here about your wife ... . Hope she's doing well.
Congrats with MU .
Many stocks we talked about have exploded to the upside.
Wahz seems to have dissapeared.
Filip
No posters here?? My stock port doing well. Still hold GOOG, BIDU n bought FB back at 25 also hold MELI. All are internet plays and up +3% today. All also hit new highs today.
:>)
Fletch
Look at a chart of the Nasdaq composite. Only broken the 50 day 5-6 times in the last 6 months.
The COMP used to be the index with the biggest swings. uptrend it's in,
Fletch
Looks likes MU has done super. Now BIDU looks like it's formed a cup with handle. It would be real cool if BIDU acted like MU did. Wish I could post my BigCharts chart but IHub has changed a bit. Fletch
Hey df,
I've been OK but wife has breast cancer. I retired to help with her care. Lucky the street liked MU's earnings. I think it can hit 15 now. Saw lots of 10K plus buys, which means funds might be buying it.
Wishing all the best,
Fletch
Nice call. How have you been, Fletch? Good to hear from you. Hope everyone else from the thread is doing well, too.
Wahz, you there? How are you doing.. still in the US or are you in England? Seems I remember you have/had property in Australia. I hope you are well.
df
Look at MU. Cup with handle chart.......should hit 10 maybe 12
Fletch
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