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NFLX hit HOD = 135. Sold!
Thanks "theparty"
Does anyone know at what time is the Sep 1st AAPL event?
Statistically you are right! Let's hope that AAPL does it again!
Russell 200 had a spectacular drop from the 6/8 to the 2/8 MM level. Important: it dropped 4 levels, but not 5, in one day. [According to statistics, a 5 levels move in one direction in one day, leads to an immediate and vigorous correction].
Interestingly, its down trend punctuations, since 8/10/10, seem to observe an “Accelerated Fibonacci Harmonics Scale”. Very BEARISH!
The conditions for holding SPY puts over night were met on close: price under the EMA Ribbon and fallen under the regression channel. After it touched the EMA (233) in the afternoon (on a short lived correction) SPY had only one direction: down. Also, FRAMA crossed the EMA Ribbon, going South and the price broke down through the 6/8 Murrey Math support level.
Good luck to all the brave puts holders!
QQQQ: Another possible target could be even higher = 45.3 area.
This would be at the intersection of the regression channel midline and the bisector of the divergence angle.
Note that this bisector was a successful pivot on several occasions, already.
Too Euclidian… not my cup of tea…but who knows?... It might happen.
Two possible Elliot Waves Counts for SPX 60 min.
Chart 1: BEARISH
Chart 2: SUPER-BEARISH
I should adopt a SUPER-BEARISH count if the SPX value would enter the W1 (red) territory, in which case the BEARISH count would be negated. This scenario is very likely to happen since Friday after hours the market engineers displayed a visible effort aimed at lifting the SPY price… A probable gap UP on Monday, will take the index well above the MAW(78), where it closed on Friday.
These charts keep some of the “marks of the past “ which were useful and which might have some “residual memory” value for the present…like a FORK and its “imbedded Gann fan”. The counts are only an exercise, since I am just learning.. I am favoring the longer term bearish “posture”…and the interesting thing (if you compare the two of them) is that if you are more bullish short term…you are VERY bearish for a longer term…
Dalcindo, here is a story for you:
Kremlin, early 1920-s …Lenin and Armand Hammer are having tea …
“Mr. Lenin, if the General Crisis of Capitalism is a sure thing, when do you think it will happen?”
“You want a precise date, Mr. Hammer?”
“Yes sir, if possible…”
“May I ask why, Mr. Hammer?”
“To make some money, Mr. Lenin...”
“You selfish capitalist…"
“Capitalist - yes, Mr. Lenin…but not selfish…You see, I meant …for both of us…”
…which became one of the favorite anecdotes of “Mr. Lenin“…
With this kind of optimism, no wonder that they don’t squeeze any shorts...yet.
However, an unexpected RAMPO would surprise lots of them.
If my numbers are correct, today VIX P/C vol. > 9!
Yesterday, Cramer decided to pump PPO for 10 min!! The stock went ballistic AH and this morning...and probably all my carefully constructed charts for this favorite of mine will be worth peanuts... When he pimps a stock, after the Boo Yah wave, comes a corrective short wave…sometimes excessive... I will have to get out of it for a while...
This morning I shall monitor the VIX… like our latest presidents - the situation in the Gulf.
So far, in the pre-market, VXX is down $0.3, which is not a lot…
TLT is UP $0.11...Hm…
SPY Sep 105 calls & VIX Sep 30 calls
"Nothing is worse than ambiguity! Sometimes it’s more important to be clear than to be right."...said a wise man.
With that in mind, I shall propose a scenario:
1. - a small correction UP to 1064 or even to 1077, followed by:
2. - a reversal and sliding on wave 3 down to 1000.
……..After all, it’s only a scenario.
=====
On my trading account, after a day of modest gains on the upside, I am now hedged:
VIX Sep calls + SPY Sep calls.
Thanx D!
ISRG upgraded at Wells Fargo. UP 3.5...very little, when compared to the latest drops, which I followed here for a while... Still not clear what is happening there...
Out of the money Sep puts, for a swing, did very well...
SOMX, one of 3X’s picks, is up 39% in the pre-market. They entered a co-promotion agreement with PG for “Silenor” to treat insomnia. Ready for the market: 215 dedicated sales reps armed with millions of useless $0,99 gizmos for corruptible docs…
Candidates for a bounce: PPO, ARNA, NKTR, BA
3.X, have a nice vacation!
Here comes Maria with a black eye and an authentic “Scarlet O’Hara dress“… made from an Atlantic Avenue vintage curtain…