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It means a lot of money is flowing on the bid.
Charting:
If you look to last 7 or 10 days in intraday chart you can see an inverse H&S forming.
If completed and violated bullishly then we have SPY 400 in less than 2 weeks..
Smart to have a plan.
Way to go
Where is that BS-er to call Top was in...
LMAO
OK pal
So it seems we plateau here
and maybe correct so the insiders can wash few more billions from the people
nice job
as always
How can you tell.
It's internet.
And it's not offensive.
Women are lovely.
4-days in a row SPY sold EOD and next day gap up.
Pattern traders may pick up on this (maybe already did).
Depending what I'm looking at, it seems to me that the market (insiders) are selling continuously since either January 7th or since January 21st.
I know I said "no selling", I still believe it, the price action proves me right, but the data shows selling and something supporting the price just so to sell some more - this happening continuously since that/those dates.
Conclusion:
If that data is correct, then when they sold satisfactory enough, then a strong and sustained drop in SPY price will ensue , probably to a stronger support bellow.
Think of it as transfer of wealth (from the people to the few in power) - not behind your back, but in front of you.
that's the right price range I liked, like 2-3 dollars.
I used to go with 1 dollar too, but that's closer to gambling than I like.
Recently because I have to follow my plans I paid even nearly 9 bucks, which I despised, but what could I do.
The important thing is to be correct and get paid.
And as for "I'm in no rush" comment, let's be honest, with options you ARE ALWAYS in rush. Time is really money, literally.
So in effect is like saying "I don't care about my money".
But me liking the price of an option, put in this case, doesn't mean I think it's a top, that's a different topic.
this is when you have to manage your position (which I hate to do because it's stressful unless you have a program to do it for you).
So sell the resistance, then buy the dip , on and on, FEARLESSLY. Until a dip collapses, in which case you either average down or get out with a loss and buy lower.
Predicting a starting of a dip (ST top) is really difficult to be sure of.
But resistances are really easy to see. So to win against the empire that's the mandalorian way.
Hwo give a cent about yell or pow
there is ABSOLUTELY NOTHING that can be brought to the news
the guys STATED they are COMMITTED for maybe years into the future and beyond
hence they and whoever else became NOT IMPORTANT
just buy the dips
nothing else exists
(and stay away from puts unless for hedging or gambling)
imo if January resistance is not violated then today or tomorrow we will be witnessing some downside correction, either small correction or large correction , this they decide, but 379-380 is feasible, all the way to low 370s
But if January resistance is violated, then we go to new ATH
simple, but hard
Retreating since mid day? No way.
You are looking at wrong chart.
SPY held the gains, and even added to them, and made a higher high.
That's no retreating when you keep gains and add to them.
This is planet earth
look at the volume ... NO selling
I'm waiting for my dip to buy calls
I hope the intraday dip so far wasn't it as I wanted a slightly different dip
I don't want this to go ATH without some calls
I'll see the show on the road, hope for a dip, for the put holders and for mine
whining and trading are on a seesaw
One goes up, the other one goes down
Trading long beats trading short hands down on any metric you want except speed.
Why would I want to be nimble?!
I CAN.
I could.
But why??
WHHYYY?????
I can be nimble IF I am at home to my computer. But I'm NOT, I work, I am out all the time.
Nimble I came to hate to have to be.
I like to be a SMART SLOW PIG, that is being catered to with the profits, insisted and insisted and insisted, almost begging me to take profits, being not just invited to fatten with profits, but WAITED for slow me to ok ok ok, I'll press the 'take profit' button..
HARD and risky..
vs
EASY and very-low risk
hmmm
(BTW same will apply to trade short IN A DOWNTREND !!! --> whenever that will be)
;)
If you change that mindset of "being aggravated by lies and manipulation of the rulers" (however true) , into a mindset of BELIEVING in them to do it and continue to do it, and use charts as a trading guidance, and come with a strategic trading plan to complement charting, then you CAN make A LOT OF MONEY.
Until then frustration and mocking venting ...
Money ? ..or.. Frustration ?
I chose Money
I don't care they lie, I can't stop them anyway
I STRONGLY disagree from a trading perspective to look at a segment of chart and conclude "this MAY be the best shorting point" when near ATH.
This is how money have been lost for so many years now.
To trade successfully you MUST give up on the "Very best, the very utmost top" there is - you must be humble and accept the reality and accept a MUCH LOWER point to short, a point where support is just giving up.
I'm trading long and only long, so only long calls, REGARDLESS if a dip is coming (and should)..
So far I have NOT been proven wrong. Not by the trading, not by the market, and not by the charts.
And why even dismissing the manipulative power Biden has on the market ?!!
All in all it doesn't make ANY trading sense.
Quote: "A SMALL GAP UP HERE MAY END UP BEING THE BEST SHORT ENTRY POINT OF THE YEAR, SO FAR... "
That "MAY" shows just how little conviction there is even in this so much wanted pompous statement of "the TOP , the TOP, sell the TOP"
NOBODY knows the number of times the TOP has been called in this market, NOBODY. We all know tho that it is a BIGNORMOUS number of times and a lot of money have been lost on shorting side --> COMPLETELY UNNECESSARY.
I was correct.
No dippity for me to get back in calls.
I should've kept something.
Charting satisfactory.
Planning satisfactory - just needs tweaking a lil.
At least I didn't gamble good money on puts..
But imo we're getting there, puts that is..
NOT yet tho, still uptrend, NOT yet
P A T I E N C E
"Further out you got it costs too much. "
Yes, I feel like a used cheap bitch , but I have to pay the pimps the high price they ask on the options in exchange for the product, which is time. I really need time for my strategy, otherwise I'm just an ordinary fool gambling in the market.
They got me by the balls, i can't do a thing, I have to pay.
And buying calls in dips is always more costly as usually the volatility rises and so their premiums - it doesn't make much sense to me but it is what it is.
So at selling time the volatility drops so you sell LESS than you otherwise could've.
On the plus side, the buying puts is always cheapest at the tops, and selling them at bottoms you get more too.
But puts are most difficult to time and trade in a bull up-trending market.
SPY closed the gap, but not going inside the other day.
That is bearish, it can go back down now.
Also the gap down AND the d50 temporary viol was done with a kicking selling day - this is all good news for your puts.
Your problem is you got too skimpy and bought cheap puts with little to no time on them.
How could you weather an adverse move?
JMHO
I see what you are saying.
It could be just an overnight dip though.
Also it could be anything from 372 to 375
371 is my fav tho
Timing is what you develop from charting.
For example you buy a resistance line which is concrete number, or a moving average, also a concrete clear number.
Luck is divine providence (or evil intervention in your life).
GOO Luck = blessing (that's what it is)
BAD luck is curse or evil intervention.
Both good and bad luck follow us everywhere.
We hope for the good only, or as I sometimes say, if not good luck, at least not bad luck, just let me be.
Timing is YOUR OWN work.
Yes I sold, but SPY has still room to upside before making puts happy.
This makes me want to buy calls (but no dippity yet ugh).
1. Luck,
2. charting,
3. strategy, (and trading plan)
4. money management,
5. timing.
I see things being important in this order.
ALL ARE CRITICAL, but in this order.
Imagine you did all good, except nr 1, the luck.
You now have a blackout in your area ....
Or you are on the road and your phone got broken ...
or you have an emergency God forbid.
Just few examples to make myself clear of the supreme importance of nr 1.
I made very good money with bad timing.
In fact I can't do too good timing since I'm on the road most of the market hours.
if you believed in that presentation you would post "I bought puts because of this trendline/resistance line", then ok post the chart.
You just post the chart with no conviction , not having the courage to even forecast next movement even without actually taking a trade.
What am I to say or believe looking to such a post?
Looking to the VERY BLURRY photo of the girl?
I'm sorry pal, you have potential but if you only believed in yourself.
(I traded calls, only calls, as per my posts - bought the dip to 374, and bought the dip to 370 -----> happy trader !!! )
Buy the dip people !
Make money people !!!!!
the take away?
I's not the "both" did this or that, but when SPX violates, THEN you have the validation.
After all, DOW is only few companies..
Easier to manipulate and paint BS.
Three critical charts show top in spy.
Daily,
Weekly,
Monthly...
Soon I will start adding puts to my menu of trading.
NOT yet, still uptrend.
You gotta be disciplined, otherwise there is no strategy.
Good trade.
Better than mine (with calls).
Mine was from 5.xx to 11ish
Then exited before this drop
I'm in calls again.
I saw the likelihood of drop (hence exited my calls), but didn't have the courage (anymore) to get some puts - because bad luck always pestered my puts..
Maybe under Biden better put luck?
Mmmmm, don't think so.
He will create inflation just the same.
Market will only correct.
Jmo
it looks more and more like a top with the daily, now weekly and possible monthly all going negative in a topping manner.
Still, it's uptrend.
bellow 373.88 the month goes negative
is this the welcoming the wall-street has for Biden?
I guess you are good as the premiums in the morning was overly high
hmm, interesting
You meant "simple" instead of "easy", didn't you.
NOTHING is easy in this market.
But simple, yes, some things can be simple, yes.
i.e. buying mid BB, or a trendline..
simple
But not at all easy to actually pull the trigger on hard earned scarce capital, thousands of dollars on that trade.
Emotions and "what ifs" scary doubts will fight you tooth and nail, then come here on the board to read negativeness, and what was so simple becomes difficult to digest and the finger shakes and won't find the Buy/Sell button.
Now let's say for you was easy. The proof that is not easy is that you didn't maximized on the trade. All in, or as much as you can borrow.. (according to posts)
I know for me is never easy.
In the beginning I thought this is easy. Yes I did.
I was right. It was very easy ..... to lose my money.
I am sure for some advanced traders, especially if also have some deep pockets, this might be easy, there must be such people.
Maybe you are one.
I am not
You seem more sophisticated than me in few areas.
Is this a typo?
"...huge spike in interest rates and probably 10% gain in equities in a month"
What I know is that rising rates should pressure the market down, NOT up.
So a huge spike should be even worse for the market , not a reason to go up +10%.
Yes, that's the correct thinking overall.
Re violations, the amount of violations is rather critical for veracity.
Also what is doing after the viol.
In this case price found support at a round number - 150 (for now)
the small flag after bounce from 150 establishes the support as true, but price CAN retest that support. I wouldn't buy it, maybe just a small position.
The slow sell towards 155 says 155 is support regardless of being violated now - so this viol thing is suspicious of shakeout.
I knew I overpay for the calls
But I had to buy the dip
They sucked the money from under the new buyers
SPY gained another dollar from my sell and premiums barely flinched
wowza
So today is red Thursday
Just like yesterday was exuberantly green Wednesday
LMAO
In this chart 1 , every single circled drop was resting on support.
Therefore it is obvious that price rallied from that dip.
In this chart 2, the channel lower line is off. it was not violated. Therefore there is no back-test to be expected (regardless what the price will do forward going)
The lines correct drawn will form a narrow megaphone.
As for bottoms waiting to form, I missed quite few this way.
Very painful experience/s.
Instead, I buy support, or if no support seen then I do more or less what you say.
FYI I looked at futures and the picture is a bit LESS negative than SPY. This leads me to believe this was yet another correction/dip, but things CAN move negatively soon for futures too. It's worth watching.
Maybe is a very smart safety move on part of Robinhood.
If the customers lose big than the broker is in trouble - think revenue stream like vandal said.
And they being a broker have access to more data so they could know more so they want to save everybody imo.
It happens in forex when they lower the margins (since thy can't pull out trading itself).
Personally I wouldn't blame them.