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A close below pivot looking very possible !
Agree on the blow off top... just tough to gauge when said blowoff has topped imho! Boyz could take this to 270 Monday imho... and ignite a another shirt squeeze intraday.
But as you know ... those are just short term games. There’s work to be done down below... just a matter of when , not if
A close here has you bullish correct? Seems to be closing above you levels of meaning. Thoughts ?
Always been a fan of the strategy; sell contracts to pay for... contracts!
Playing those 264 painted pictures. Nice grab
Closed half 2/1 COST 205p at 1.25 from .85
I bought COST 205p for next week at the open @.85
Opening 60m candle is ugly af
Have I been missing ?
I just realized I accidentally put you on ignore... weird. I thought you had just stopped posting!
265.50 is 50% retrace of this move from 264 to 267. Could see support there band the 15m chart supports this.
We don’t hold up there and we could be printing an obvious, tall wicked reversal candle on the daily.
The current 60m candle is bearish engulfing. On a Friday afternoon in an over bought market these can trigger dramatic selling into close.
Just my $.02.
Happy Trades!
Looking likely
Fingers crossed on that disturbance. I have set a new rule not to short what is looking like a short squeeze. Maybe end of day I’ll look at the some puts.
.618 fib from the DEC high to DEC low is 262.41. That’s also where the real resistance can be seen. I’ll be watching for that level to start getting short... until then, we sit and we wait. Not a ton of interest in playing this chop.
Or 1-16s
1/18 I assume ?
I’m thinking swiftly too. Maybe an intraday overshoot to 248ish before the month ends.
The no’s have it by a hair
Noice
This is a great read...
http://fat-pitch.blogspot.com/2019/01/weekly-market-summary_12.html
I’m with you... going to start looking at some 258p for next Friday’s expiration. The obvious look for me is 2620 top followed by a dive toward a bounce bottom with possible overshoot.
My heads not on straight me amingo. Thanks for the reply !
Thanks Bos! I’m sitting in the beach in Turks and Caicos, so haven’t been able to follow too closely NN
Hope you boys and girls are slaying it today
STC or BTO?
That’s just dumb... it would equate to a 2.5PE.
Feels like a 260 back test before we head lower. I may look at puts at the close. China trade is still lingering... that could blow the roof of the day that comes to fruition. Been a tricky market to time day by day..and I’m. I master so I’ve been playing both sides and giving myself 4 days min to expiration.
I really hope the folks on this board are paying attention to your posts. It’s like complex physics boiled down into a digestible Cliffs Notes version.
Much appreciated by many I assume. Stay Neutral amigo.
Great example! Thx sparty
OB/OS is a very weak short term indicator in markets like these (highly volatile) in my opinion.
Can stay OB or OS for days
Looks possible. I’m going to play some puts off my large position 1/18/19 260c I purchased last week.
Fun week so far. Happy trades
I’ve offered no charts and feel bad about that... but I’m on iHub on my phone only and it doesn’t seem like posting images / charts is easy or a possibility.
I’m also not very smart... so not sure they’d be much help!
Answer: super cool. Very generous with his time and knowledge.
I’d ask Net, but I believe it’s the closing price of the last Friday of the year... please confirm though as that’s an semi educated guess.
More of the same... not sure if timing, but I think we print a new low in Q1 before heading back towards 280. Should continue to be a wild ride though. I’ll only being playing weekly or the following weeks options. Too much volatility to play the longer swings imo.
240.70 is his 2019 OE pivot
Just keep taking what they’re giving I see... nice work Net.
Sold all my calls today... Adding back a lane or two before close. Still holding some 1/11 250p
Green day for sure... my second greenest of the past year.
Happy trades and keep playing tennis between those levels!
Pump it up Larry
Completely agree... I’ve been to pretty much every major city in China over the last few years... it’s an economy that is clearly booming via stimulus and is still quite fragile. Hundred of large buildings that look impressive , but the lights are out in 70% of the windows.
Lots of show vs go imho. While Xi will likely be stubborn to a fault, the markets down 25%+ (vs the US down 7% over that time) are clearly adding to the pressure. Now would be a terrible time for the US to bend to China imho
Close under 2450; hmm.
The markets no likey that China PMI news
Gotcha