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Pretty much all of the TL's were broken. You did very well on that trade not being around during the day. I had a feeling that we were due for some shaking out.
Congrats...
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Probably a pretty good idea even without bad weather. Demand goes up in summer with vacationing and now the punching of new holes (even with fining loopholes) will be few and far between.
I added more PDO today so I was thinking along the same lines
NICE trade by the way Cap. You can get it at a better price next week.
There it goes as I was typing. 60 minute DTL on ES broken
You should be able to get that. Nice methodical sell volume on TZA to match the buy/cover volume on the indices. 1080 on ES and the doors open up for the Friday PM cover job.
I am off to the roof (flat black HOT rubber roof...YUCK)
Be careful...have a good weekend
Basing???
Those really steep DTL's can break hard and fast...place a stop
JMO
There are some real oddities for sure. You have volume increasing but still reasonable for the move to continue. The hourly charts just seem to have gone down too far and the summation didn't jive with the amount of fall.
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I see a clear DTL on the hourly FUTURES (24 hour chart) that points to about 1080. If that gets taken out tonight they will probably jamb it way up. I don't know what that would do for the morning though.
My guess is that they make a try at it tonight. I bet they do.
I would hold until some sort of trend line breaks. If it does I would get out. There are lots of people ready to cover on Friday's and it does have some divergences to help push it.
Long term it's toast but it would suck to hold and go under water after that nice ride.
Cap...
I will post back in a bit. Some summation numbers are slow coming out and i want to look at something because I am seeing some oddities and divergences.
That certainly qualifies. 1.68% by my count.
Posted file called set-up at the lounge. Looks promising when back testing.
Tomorrow has a drop of over 1% showing up in a big way. If not then Friday. A big drop coming in the next two days either way
Should have taken that. Missed me by 1.5 points while I was outside. I almost put in multiple orders just to catch the initial bounce...sux. It happens every time...oh well
I think about the same except I see about 5 points less on the hop. I am looking at those 4 highs at the end of May - early June.
Sweet looking tract to play on. I see they took the pics in the fall when it was all pristine and the hacks hadn't butchered it up yet. Nice senior rates too. I need a few years to claim them though. I like that N/A on the walk rate for the seniors...LOL
I think if we get 10 points on the bounce I will get back in short. I had to take the 15 points though. That is a long hold for me.
I think we bounce just a bit and I see 1050. If we hit 1040 we are going in a hell hole. It's possible but 1040 probably starts a waterfall...imo
Covered here for 15 points per contract as I expect a little bounce...not much
Lots of my friends got sucked into believing the economy was turning up and started new spec homes this spring. Some of the lumber yards and builders even hired some folks. Now it is as dead as Custer's nuts out there and the talk is that those new folks are going to get axed real soon. Very bleak picture for housing. Hell, if I was in the market I would just go get one from the bank. They will sell it at 75% of what they have in it.
BTW...I don't care if it gets shared. Please just post a link to the lounge. I don't know if it is some copyright BS thingy.
Posted something in the lounge for you to ponder over
Yea, I wasn't too worried about things. I have been holding lots longer than I used to be able to...lol
I have something I will post in the lounge later for trading this. I have been watching and it seems like some great stuff. Let me figure it out and I will post when it is over there.
Any of you guys trade VXX?
Doubt it this time.
They love to jamb it up when the economic picture looks this bad just to prove that the market rules and so I can see your point.
This time is a little different because things look as bad as ever so there are going to be tons of sellers waiting at good resistance. They are sitting back and letting it go up but now are tatooing it after it runs awhile. It has seen it's hay-day for now. Look at what they are doing now and it's lunch time...good volume selling
The economic picture is as bad as I have seen it ever. Common sense will take this thing over real soon...and I never have believed it more than I do now.
The disconnect in gold/silver and the markets is here and you better look out. I never trade on funnymentals but this is getting sriously out of control...look out below.
OK...off the soap-box
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A nice hammer job...lol
Oh and by the way I got a fill at $5.75 on my target and doubled up.
Looks like I will be holding as well. Nice finish happening right here in the last 15 minutes (4:00 - 4:15)
It's Friday...eom
I pit in stops at 1118 in case they try the late afternoon crap. I will short again if I get clipped at 4:14:59 pm.
ES has spent an awfully long time trying to resolve some negative divergence. It needs to drop this hour or there could be some problems.
PDO was the biggest %gainer on AMEX today...lol
Took 4 more per contract off the table and got short again at 1111.
Stop at 1106...come on baby. Daddy wants a steak for dinner...lol
Glad that you pay attention to options. I have always felt that is one of the best fades out there. Nothing has a higher rate of losers than options. Most brokers use them as protection against their normal positions to save themselves from disaster. About 90+% expire worthless because the few that pay do so in a big way.
My list of stocks for the economic melt down...
PDO
CDE
NGAS
CSGH
FEED
DROOY
CGC
EGI
EXK
HL
IVN
AUY
EGO
RGLD
HOGS
GG
POT
SLW
ABX
NEM
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It's a rocket ship...to the moon we go. Buying more at $5.75 if we get there. May just do that to shake off some of the load. Volume is out of control for this stock. I have no idea what the outstanding shares are.
Stop down to 1109 for a bit more coin.
OK so I was clipped at break even and am in at 1110 again. Looks like a good play for now. Stop at 1112 for now.
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I am already up almost 40%. I should have bought more...lol