pisapicks622@gmail.com
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In FAZ 16.93 on 1055 resistance respected, no stop in, will cut loss on 1055 break
I'm down! SP500 1055 former support, could be resistance here, going to get a swing out of FAZ/FAS depending on the breakdown or breakout, watching close.
Interesting, never thought about using bollies intraday. Will have to start and see if it's helpful or hurtful.
No it certainly does not. However, the one thing that concerns me with the upcoming elections is that if republicans take control they will be hell bent on cutting back on spending that it will hurt the economy even more.
If you give a kid $10 allowance every week for 5 years, you can't just all the sudden cut it down to $2 a week, you need to first give him $9, then 8, then 7, etc...
Question, do you treat the bollies the same on an intraday chart as you would a daily?
I agree, I filed my unemployment claim last week to add to the data
Although, the market is tricky, might rally tomorrow and Friday on bad news because that means more QE to come. Still of the belief to sell rallies though. SP500 will be sub 1000 in due time imo
All out FAS 19's from .86 entry @ 1.02, 18%... not trusting this market overnight ~
1.01/1.03
1.00/1.02, moving now
.99/1.00
FAS September 19 calls .96/.98 now from .86 entry; bouncy bounce!
Ty, everyone has their own methods. Whatever works
AXTI breaking out now, 5.42 serving.
Well we can agree to disagree then because I sold my FAZ calls based on that chart and I bought my FAS calls based on that same chart. So far it's working out pretty well, up 8% from my .86 entry on FAS September 19 calls, called here on the board at real time, meanwhile my FAZ calls that I sold are down 10% from exit
FAS September 19 calls, .93 last trade; .91/.92
Wowzer, very nice moola!
I agree to an extent. However, many of those bounces/resistances you see are made intraday and have helped clue me in on when to jump out of FAS and into FAZ or vise versa. Longer term trends are only secondary if you choose to ignore them. I have found though that they are pivotal in determining price action of these 3X ETF's.
For example, when my last long term downtrend line was broken (highlighted in red) I knew the fun was really ready to start, and instead of selling my FAZ calls for 80%, I was able to ride them all the way for an extra 55%, then as can be seen, the topping tail posted today met channel resistance and I sold and those same calls are since down 10% from my exit point:
Given how beautifully the price action has met resistance at my trend lines, or found support on them, I would argue the answer to that question in regards to my chart is indeed a yes.
I think so too, and some will likely get added as new trends emerge. Strictly a trend trader here.
This is what it looked liked 13 days ago:
https://mail.google.com/mail/?ui=2&ik=4b741dc38c&view=att&th=12a62cc3b958e70e&attid=0.1&disp=inline&realattid=f_gcqmcdtr0&zw
Lines may look ambiguous but they helped me buy bottom @ 12.89 (it actually bottomed out @ 12.86)
GAME ~ added 6.01, will buy more on a dip into the 5's. LONG (6-12) position.
TNA/TZA, good man. I use TZA to hedge my small caps positions. Think TNA is a good buy down here?
You play any ETF's other than FAZ/FAS? TBT is going to make a huge bounce at some point...
options and big boards at the moment, volume too pathetic in pennies lately.
AXTI ~ favorite big board play right now, fully loaded in the 5.20's
http://stockcharts.com/h-sc/ui?s=axti
check out the growth:
http://www.google.com/finance?q=NASDAQ:AXTI&fstype=ii
All out FAZ september 16's @ 2.24 from .95 entry.
135% in 5 trading days, can't go wrong.
In some FAS september 19's @ .86 for an aggressive trade. Should get 20-50% on a market bounce. Will cut losses on jobless claims weakness tomorrow.
Good luck to yourself and those in, I know personally a good number of people who bought on my recommendation, good to see it bouncing from lows and providing anyone who was brave enough to average down a chance to get out. I would be very cautious with this trade though as management was not very honest with me.
look no further than right here ~
"KSQR- Investorsvoice was compensated 2,200,000 free trading shares directly from the company."
http://www.investorsvoice.com/disclaimers/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53504289&txt2find=ksqr
You and me both, LOL
AXTI ~ couldn't help myself, bought another 275 shares. Quickly becoming one of my largest holdings.
I am currently putting together a comprehensive watch list of only 'OTCQX, OTCQB, OTCBB' stocks ONLY. I feel this will help eliminate some of the risk involved with pennies. Furthermore, to be registered under those standards means the company is filing with the s.e.c. which shows they somewhat ample cash on hand. I will keep all clued in as to my findings but so far 4 stocks have been added to my watch list for one reason or another (out of about 200 that I've looked at so far):
AMWW, ATPT, ALTX ~ (keep in mind, these are not alerts, merely 3 stocks that I have added to my watch list and ones I think others might want to add to their as well. I do this so that if news ever drops on one of them I am simply alerted to it due to my watch list without having to check everyday. So perhaps it might work out that I have no intention of buying one of them but then good news hits and it turns into a day/swing trade. Just want to make sure that's clear.)
After my watch list is completed I will then go through all of the stocks again to determine which ones I feel like alerting. I am starting new hours at my job that will unable me to day trade as actively as I would like. Therefore, I will be alerting stocks I feel have the potential of appreciating over a longer term horizon, and are not as volatile and fast moving as some of the ones I have alerted in the past. For example, if my watch list has 50 stocks, I will pick 5 based on their financials statements, share structure, forward-looking events, and management; I will alert them all at the same time as 'buys' similar to how a stock analyst would.
TBT ~ my favorite ETF to watch at the moment:
http://stockcharts.com/h-sc/ui?s=tbt
This thing is going to make an extremely ridiculous bounce at some point, key is to know when. Keep in mind this trades short of the 20 year treasury note. As stocks have sank, investors have flocked to treasuries for safety. At some point the treasury trade is going to unwind as investors get sick of making near 2% on their money, forcing a lot of money back into equities. When this happens, TBT is going to run 50% from the lows, guaranteed. Should enter the 20's in due time, look for a bottoming base to form around there. If that doesn't happen, well then you probably don't want to be holding any stocks, penny's or big boards, lol.
XLF ~ similar to NASDAQ, banks have been leading the broader markets lower. Markets cannot bottom until the financials do first, by the looks of this bearish gap that likely won't be happening anytime in the next 30 days, quite possibly longer:
http://stockcharts.com/h-sc/ui?s=xlf
NASDAQ ~ continues to lead major market indexes lower, just as it led them higher. Bearish gap down today signals further downside to come:
http://stockcharts.com/h-sc/ui?s=$compq
I'll be looking to rebuy my AAPL that I sold above $250 in the 230's or hopefully 220's, still holding 100 shares long regardless.
ZUMZ ~ on my watch list, getting cheap based on valuations:
http://stockcharts.com/h-sc/ui?s=zumz
RSI about to enter oversold territory. This one is very volatile, and when it bounces, it will likely return 20% or more in a short period of time.
Gold ~ talk about a textbook technical bounce:
http://stockcharts.com/h-sc/ui?s=$gold
bounced perfectly off the 50 day sma, setting Gold up for a move to new all time highs IMO
FAZ ~ I continue to take profits from my FAZ position and use them to average in on LONG positions:
http://stockcharts.com/h-sc/ui?s=faz
Wouldn't surprise me to see FAZ @ 20 in the next 30-90 days. Holding 500 of my 1,000 shares short-mid term as hedge
AXTI ~ added today, debated between GAME and AXTI and chose AXTI as I think the downside on AXTI is limited compared to GAME:
http://stockcharts.com/h-sc/ui?s=axti
GAME ~ was not shaken out of my position today but certainly wasn't averaging down on any just yet, further downside expected imo:
http://stockcharts.com/h-sc/ui?s=game
$INDU pierced critical psychological support @ 10,000 intraday today:
http://stockcharts.com/h-sc/ui?s=$indu
I believe it is only a matter of days/week(s) at most before we are making new yearly lows.