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New HOD... this could squeeze again from here. Huge bullish engulfing on the 30m
SPY sitting just above your 55d.... today’s close should be interesting.
Happily positioned currently ...
Looks like it.. Monday will be interesting. I’ve been feeling we pivot Monday somehow.
Gap up and fade? Gap down and fade harder?
Who’s to know. I’m buying a few positions.
Added to 5/6 290p @ 9.35 average is 9.46
Added to 4/29 280c at 5.25 avg is 4.98
Heavy to the long dated side as usual.
Happy trades amigo... could see some fun action in the weeks to come.
Wouldn’t the market usually be a leading indicator vs the economy?
The 21d (which I like) has 2809 on the 15m. chart. We’ve been under it since lunch yesterday. A break and close above jibes with what you’re seeing from another angle
Cut these calls loose at 3.21
Will look again at the close
The tests in Germany have shown the same
Doubled down on these calls 4/27 281c @ 3.15 average is 3.27
Still holding 290p for 5/6. No hurry with these either way
That’s what I’m thinking. Pivot tomorrow or Monday if they play games with a gap up Monday.
BTO 4/27 281c @ 3.40 on the dip
If we fade this afternoon I’ll be looking at 4/27 calls.
I’m slow loading some later dated puts.
5/6 285 & 290
Happy trades.. see ya at the close amigo
Agree. The sweeps on 5/6 PUTS stands out to me today. 294 down to 290.
Squeeze engaged
Gap up Friday?
Agree. I think any move higher is gone by this time next week. Monday pivot wouldn’t surprise me.
Happy trades amigo
Today’s action has me thinking they’ll squeeze the bears before heading lower
SPY back over the 30m 8d for the first time since yesterday morning.
Net dropping that tuition-free education
Great post amigo!
Ooooh.. and official “end of the world” prediction!
If that’s the case, I’m going to ditch isolation and go enjoy what little is left of the world as we know it!
Stay neutral -
Good morning fine sir.. quick question I pondered in the shower.
When you have been calling for SPY “0” does this presume that the markets go to “0” as well or are you proposing that SPY decouples from its underlying assets similar to what we’ve seen from derivative investment vehicles?
Thanks in advance.. should be another fun day of trading. Stay nimble amigo
And we have the most ridiculous comment of the day.. not even 10:00! Congrats
This board has better contributors these day than it’s had in years. Nice to see...wish I had more time to read and contribute
Happy trades folks
Another $360 bil for small biz, $25 bil for testing, $75 bil for hospitals from Congress coming.
https://www.latimes.com/politics/story/2020-04-19/trump-administration-democrats-deal-coronavirus-aid-small-businesses
SPY doesn’t like earrings on China?
Trump began imposing tariffs on China in March of 2018. From then until C19 came in February markets rallied over 30% as tariffs increased. WMT over 50% during that time. AAPL more than 100% during that time. (About 20 months)
Markets didn’t care about tariffs. WMT certainly didn’t care and AAPL absolutely loved the tariffs. - according to price at least
Taken with a grain of salt - but Germany has a similar study / result.
https://www.medrxiv.org/content/10.1101/2020.04.14.20062463v1
Appreciate your insight, proprietary charts and stufffies amigo. Happy trades today
My Gut has been telling me that the market would be a leading indicator of our handle on the virus , not the tiger way around. Those waiting for “the cure” to get back in would miss a big portion of the rebound.
Today we wake up with multiple companies with Vaccines (JNJ will have 600-800 million vaccines for the 2021 season) and very promising treatments (GILD) that are wrapping up clinical trials this month as well as Roche who has developed an antibody test which they’ll be scaling to “high double digit millions” by June with further scaling into summer.
There are many others also in production.
We’ve already seen the 50% retrace of the fall from the lows of last month. Those expecting “the end of the world” and stock market collapse better rethink things a bit. We are more likely to end the year with a largely rebounded economy that has TRILLIONS in stimulus attached to it.
The Baby bear orphan maker rally - engaged two weeks ago and will confirm if we close above that 50% retrace this week.
I can make a much easier case for SPY 350 before year end than I could ever make for SPY sub 200. Don’t get caught like the bears of 2009... it’s a traders market, but betting on another crash is a classic suckers bet.
Just my $.02. happy trades and stay OFF of cable news people. The data doesn’t match the turmoil we are being sold daily
That 292 invalidation level you spoke of doesn’t seem so far out of reach.. tomorrow’s close is going to be interesting !
Safe travels -
So many “coincidences” hmm ??
MSFT going vertical.
SPYs largest holding
Just remember, you don’t exist w/o the 95%!
Be nice! Lol
Think this answers my previous question !
What is the invalidation level currently for you SPY 0 case?
If we close over 300 Friday for example does your theory stay valid ?
I refuse to short a market like this UNTIL the trend changes. I’ve watched many front run such scenarios only to be left with empty pockets and a double helping of frustration
Happy trades mi amigo
And most have not even traded through an actual recession or real bear market.. they know nothing other than QE-infinity.
Keep nailing those levels Mi amigo
Just here to watch the young bucks eat some crow for trying to call my man Net out. How’s that crow taste boys?
Stay neutral amigo
Why do you care? Honest question
Overnight session notes :
Lots of selling absorbed between 2620-2639. I am a buyer above this level with eyes on 2752.
Below 2620 could see more selling with a target of 2550.
Happy trades folks
I’m feeling tomorrow’s action will look similar to today’s. Gap up that sells off. Then we should drift lower once we close below 2625 on SPX
Great trading range the next few months imo.
2200-2800 will be a great trading range imo the next 6 months. After that? Who knows!