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You'd figure a dollar lower wouldn't be too much to ask... but apparently it's like pulling teeth... lol spy
Lol... spy
May the Risk On continue without me... lol... gla spy
Tlt is the etf that tracks the yield... tyx is the yield... a lot of the etfs are correlated differently... at least that is what I make of it anyways... kinda like UUP, dxy, and usdeur... uso and wtic... yada yada...
I like da charts... spy
Lol... was gonna short TLT... but didn't feel right about the spy 15 min... so i didn't... I rode it down some last week though... although I did look at some tlt 124.5 c today and kinda wishing I jumped on them now but alas I did not... oh well... may the risk ON continue without me... or not...? Eh preposterous lol... l8r spy
I'll go first... this is the first time since the 27th of last month that the price on the 15 min chart is below its trend line started on that day... what does it mean idk you tell me there's more to it but I'll leave it there... and on the 5 min that I've been harping about all day... kept its trajectory into close... as to why I held my position into close... so the dots have been plotted and it shouldn't take a lot of extrapolation to figure what position I'm in and which way I believe the wind is blowing... as for how far or how hard the wind is blowing is up in the air... there's more but I'll leave it there... but it's worth a shot to me... of course this is not the daily... the simple daily chart shows no reason to really assume a temporary wind shift so.... it's like betting against the trend here... exactly what I was saying not to do over da weekend... of course I was talking simply then... im a chart nerd so I take things a bit deeper... usually much to my peril... blah blah blah spy
Lol... well why don't you just tell me how it works then...
Yeah I don't... but seems it's fairly straight forward... as long as you've got the shares or Cash on hand to cover any assigned shares or cover any wrong assumptions... thought about buying a chit ton of uso or xlf shares and just writing covered options but haven't done it yet... this market though is making me think Strongly about it... spy
Good writers market huh...? Geez...
And here it is... spy
15 min seems about ready for a bullish cross over in a bit... can't win just stagnate the market... until buying resumes.... spy
K here is a spot that I've noticed before and seems to be happening more often lately... this is one of the downfalls exploited in MAs... when you see the crossovers supposed to happen but yet they lay them flat on top of each other... with this low volume it happens quite a bit when the "bearish" crosses come up... perhaps due to programming from Algos... and perhaps we'll see the other side when it's time... but me thinks over all it's toying... however... whatever... spy
Getting close to a bearish cross on the 5 min... of course we've seen in the past that it was a lull instead of a reversal... but still heads up seven up... gla spy
5 min still has not rolled... and instead has seemed to gain traction... although it seems tentative for now... spy
15 min shows weakness but 5 min hasn't rolled over yet... spy
Sure... just because the indicators are signaling a move doesn't mean it will happen immediately... but be wary that a move may be forming... I used to rely on stochastics quite a bit but with these moves in the market It left me looking for a move that was almost impossible to predict solely by stochastics... but I found more often that the MAs showed exactly when to look for the move to come an end.. and forecasted better then the stochastics... although under normal market circumstances there is nothing wrong with using them and in fact they are quite valuable... such as others... but for the sake of conversation when the market gets out of whack like lately then they are rendered useless... however MAs have been proven to weather the storm far better and be that flag at the top of the mast letting me know which way the wind may blow... all the stochastics are telling me right now is that the wind is blowing really hard... of course using them together would seem to be an infallible combination and in a way they are but for me when they are "OS" or "OB" it imo impairs my judgement thinking that perhaps this move will reverse soon and so I tend to get a little trigger happy when I instead just need to listen to price and watch how it's moves are averaged to smooth out the smaller waves and hopefully catch the overall trend... I've been spooked out of many trades due to stochs and others... MAs aren't without their issues but overall seem to be less penetrable when it comes to big money toying with and don't toy with me as much when using them.... lol... spy
That's fair and absolutely true... each indicator and overlay is in itself a tool... and being an electrician I have found that having plenty of tools in your toolbox is a valuable thing to have... I've seen some pretty abstract tools that have a very specific purpose in the trade (electrical) ... but all are valuable in the right situation... so much to that same vein... don't get me wrong... all indicators are valuable in the right situation... but what are most of these indicators..? Different mathematical equations based on price... and the real reason I left the indicators off was to get back to focusing on price and what it was telling me... I found myself getting distracted by the indicators... even now I now try to stay away from "directional" indicators as they distract my judgment imo... and there's not much a few well timed MAs and an adx line won't catch imo... over time I have found that it's just easier for me to try and stick with the basics and be selective with my indicators... spy
Far out bro... spy
Hey I'd be happy to say your "TL" works if I knew wtf it was... only you do and you won't share the details so hey good for you I really can't say if t works or doesn't but I do have something that all can access and I try to say what I see.. happy trades buddy...
Thanks... well simple charting is the best imo... remember I think it was last year (time flies anymore) I took all the indicators off the chart and went back to simple MAs... did that for a while and tried to take it back to the basics as time progressed I added a few different overlays and a couple indicators back but overall I remain adhered to the simple MAs ... BBs are part of that considering the mid bb is the 20 sma... and a good indicator of short term trends... but yada yada yada... I'm preaching to the choir I'm sure... spy
If you simply look at the recent move with the BBs on the daily and buy calls when it's above the mid bb... as you could see the avg win rate is far better then the lose... simple relevant charting... spy
Sorry.. had a bit more to say... lol spy
It's only irrelevant when one doesn't know how to read and interpret TA... which I have been guilty of... but as long as you stick to the chart like a machine then your statistical average of profitable trades should be better then a 50/50 shot which is just like guessing....
Play da charts... not the news... you'll be surprised how not surprised you'll be by da news if you can read a chart.... spy
Bs... all I'm saying on that... spy
Wowza... haven't been looking at spy this week been playing elsewhere but man o man what a day today here.. too far too fast...?!?! Idk.. maybe.. but... look for a major gap up and a collapse for signs of a blow off top... but in the absence of that per the daily chart 256.34 looks to be inbound... a backtest of R2 at 253.45 may be in play so if it holds... maybe 254 calls into next week may be the way to go... but that's just my op and as a disclaimer I have no skin in da game here so take it fwiw... gla spy
Lol.. that's a good one also... spy
Super glue and pixie sticks... spy
Lol... nice
Yeah well that may be true as I'm not a wave guy so I can't confirm but I understand the concept... gl spy
Weekly says that 255.40 is da target... so you may gets yo wish... spy
Been staying flat till next week... spy
Imo the Market was at an inflection point... but it appears to have inflected positively lol... apparently the inflection was a reflection on new policies... which after digestion seem to have supported the idea of higher prices... which imo is ridiculous but I am but one in a sea of many... so it's easy to succumb to the tide if it happens to be pushing instead of pulling... so maybe l8r... lol uvxy
Although looking at the iHub line chart it looks like a decent ascending wedge pattern...? Spy
Intraday chart maintaining its bullishness for now... spy
Although we may still be in a holding pattern till earnings... since we are so close ya know... then we will prob still be in a holding pattern till xmas... lol...
Going for da bullish cross now... spy
Lol I hear ya... For da day trade if that's your thing... spy
If you feel that way... I'd use this time to hunt for calls and wait for the bullish cross before jumping... but this low volume is crap... spy
Intraday temporary support would be 249.73ish... spy
5 min has bearish cross... fwiw spy