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Sold all my longs including TTOO and initiated shorts with July expiries, including an uneven fly OTM short on CMG.
May not post exits or if stopped out.
First stop 317, then 313 which is begging to be filled as there is very little volume between 317.44 and 313.04
~d
CMG rejected at 1037 and trending down again.
~d
If not a trend change, may at least gap down tomorrow. Got my bounce up and retrace that I was looking for.
313 is begging to be filled (gap).
~d
Correction: 2 hour chart, not 1 hour.~d eom
The 322 ghost print I mentioned all the way back in March, the last one, has been fulfilled by about a buck and channge over.
MACD on the hourly chart for SPX advance/decline in oversold territor, similar to recent prior examples where SPY turned up that day, or the day later. However,if we are starting to turn over, the oversold reading may only mean a short bounce and further decline.
The long fly just placed was a put.
Sold a 1065/1070 June 12th call for 1.00. Slightly risky trade.
They wouldn't take a short fly above 1066 strike. So we know where price is most likely not going to, by Friday.
~d
Edit: A lot of sells at the 1036 and 37 share price.
The clue was the rejection of the prior high. I wasn't watching at the time.
Went long a 2/3/1 890/880/875 fly for July expiration. Trade taken immediately which usually means there will be further upside, and there was. Placed trade at CMG 3027 and it is currently at 3030.
Will be looking to place a trade in the other direction for an OTM uneven fly with June 12th expiration at around 1080. for a credit.
The way this keeps going up I wonder if they are a buy-out candidate for some other company.
Have no idea, and not much knowledge of fundamnetals nor of SEC filings.
Will be taking profits again on half my TTOO shares today or tomorrow. Like most penny stocks they need cash and further dilution is a strong possibility.
L
CMG reached Hurst s/t Hurst objective of 1027 (not mentioned on board). Next price objective is 880 to 887 if further decline.
Long term Hurst projection of 1200 still on board.
Glen, this time will be no different. There is a correction coming and it is coming soon. With the market this strong though, it's good not to anticipate it (which is what I did in May) but wait for the turn.
~d
TTOO at 1.89 this morning.:) ~d
If TTOO can rally to and maintain over 1.52 there is a volume pocket all the way up t 3.15 on my 4 hr chart.~d
Well, for a while anyway.~d eom
3 of 3, negative divergences don't work up here.~d eom
TTOO update: Sold 1/2 at approximately 1.43 and bought back in at 1.20. Then came down with a full case of FOMO and bought a whole bunch more at 1.43, thereby 86'ing my New Year's Resolution to follow position management strategy.
LOL
However, something is going on as a couple of million shares were bought last week and after retracement is higher than were it sold off, most likely insider info (we all know that's illegal though).
Next stop 1.86, then 2.04 if further rally.
Which do you like best, if you don't mind, ones that may have not climbed on board yet, even? The way the market looks, even the penny ones may come on board soon.
Please PM me if you'd like, too.
TiA
Which do you like best, if you don't mind? The way the market looks, even the penny ones may come on board soon.
TiA
Surprise!~d eom
A lot of buying on UVXY since May 15. Not unusual for big players to set up a position over several weeks.
~d
I am herewith formally abstaining from posting until Netneutral explains an options guillotine press, in detail.
Nice knowing everyone. I wish you all the best!
~d
I saw huge big block sells today, almost all day at 311.30 or so. The rapidity at which the trades took place was different from the recent big block trades I've been monitoring the last few months.
So, could be the usual manipulation, but thought I would put it out there as the July low (not June anymore!) will be coming up.
~d
Hurst update.
So...it's not good to have a scenario in your head. It's prevented me from gains and made me losses many times. I know that and still, I keep doing it all the time. It's human nature. We don't like the unknown and we like to have a plan. This is where meditation comes in useful to empty the mind, but been too lazy lately.
With that said, the Hurst 4.5 year low was due in late August, which was what everyone expected. That would make a big low coming up in June (which I spoke of many times), then a bounce in the summer, then the 4.5 year low. Because of this scenario I thought that the 322 target I posted back in March would come after a sideways channel for a few months.
Wrong.
David Hickson of Sentient Trader just posted a new update on Youtube in which he stated that the 4.5 year low most likely came in very early in March. They have been coming in early for over 20 years (bullish) I also am entertaining a theory lately that the 9 year cycle has morphed into an 11 year cycle since at least 1987 (bearish). I tweeted that to David and he was actually very interested. I thought he would blow me off.
The sum of all this is that if we just pushed out of a 9 year low and a 4.5 year low the summer should be very strong. And between a bullish 4.5 year cycle and a bearish 9 year, the volatility will get stronger and stronger going forward, like the big swings we've had in the last few years.
There is the next nested 20 week low due in July and if nothing else, we may retrace to 300, pending price at expiry. Considering we have come up so far, so fast, it could be interesting.
Here's David's video and it's worth watching, even for non-Hurstonies.
And where the heck were you today?
~D
Ah, Dr. Jackal. What's the guillotine press?
~d
So explain the guillotine press to me like I'm two, Mr. Watcher, please. Dr. Jerry is off counting his money while his patients languish.
~d
Hmmmm......
Guesstimating, but looks like over 6 million in big block sells just in the last 2 hours.
Could be just the usual manipulation, but it doesn't look right for that.
~d
313 sounds good too.
~d
Who is this masked man?
How many aliases do you have on this board, anyway?
Ashy, you might want to roll out to July before you lose your extrinsic value in those puts. I am rolling my SPY puts out to July.
~d
Dr. Jerry, I don't understand the technique on that one, the guillotine press. How does it work? Anyone know?
I don't feel like scrolling back through all his posts.
~d
You have to take it down to ramp it up. Kind of like a jumper crouching low before a high jump. They did take it down more than I expected and massive call OI and volume at 320, so we'll see.
~d
Probably not, no.
~d
Make that six million, lol. Could be time to set up short positions for next week.
~d
I agree, maybe a little higher.
Fitzwll, this one's for you: Seeing over 5 million sells in big blocks trading at 311 and no decline. Yesterday it was big blocks at 314 or so. Can't use it for trading because there isn't always follow through the next day or couple of days(hidden agendas).
This will retrace though, even if only half way.
Potential for ramp into the close is looking stronger and stronger.~d eom
I have no idea, Nasaravi. I didn't think we would make it to 322 till the end of August.
Get back to you later on this.
~d
God bless futures! And accounts allowed to trade them!
LOL