Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
IBB - Lots of bear flags, most recent flag broke on Friday. I'm holding 240 puts and will add on any bounces. $224-$227 is my initial target which coincides with Weekly VBP band and the Monthly 50%Fib retrace of the run dating back to 2009. Could see a bounce to the $258 area 10EMA.
Daily
Weekly
Monthly
SPY IWM QQQ
SPY - Lots of chatter about similar patterns to the past, new lows, big drop calls etc...for now what I see is a break of a rising wedge and price stopped at the cloud. It's below it 8, 10, 21 and above its 100 & 200 DMAs. I believe a test of the 200DMA is in the cards at some point and will reassess from there. TEIN closed over 2.00 on Friday, which tells you that at some point this week the overnight lows from Brexit should be revisited this week at the very least.
IWM - Should see 110 at some point this week
QQQ - 100.50-102 at some point this week. Will sell bounces until it finds a base and produces a reversal candle/confirmation.
It's Sunday, coffee is on, house is peaceful, I'm bored, CHART TIME!
Great article for short-term Traders
http://www.seeitmarket.com/trading-can-bloodsport-markets-15803/
Gracias
IBB - Wanted to follow up on why I didn't take IBB long, just needed some sleep first and a break from the markets. Bottom line, the long idea was assuming another test of the top trend line in this bear flag on the chart, which was also based on an assumed Bremain vote. That did not happen and price broke the bear flag to the downside sooner than expected. So now the picture is a price below major volume-by-price band and also below all major moving averages including the 8, 10, 30 SMAs (which is very bullish). A pop next week to $258 could be a shorting opportunity, UNLESS price closes above the 8SMA (then I'll be flat), and a close above the 10EMA would give me a day trade target of the 30SMA. Either way, the broader pattern says 230 is in the cards until it is invalidated with price breaking back into the flag channel. Hope this helps
Ask Siri
Nah....it was just one of those rare days when the market had a massive event on a Friday no less....god knows I love my Friday trades.
No, have next week 240 Puts
Off by .10 on SPY.....my games a little rusty
Alright....just finished getting yelled at by my daughter for picking her up so late from camp (especially after literally trading the markets for almost 24 hours straight). I just couldn't walk away from the monitor.
BUT.....
STC 1/2 IBB 240 Puts @3.00 average from 1.79
STC 1/2 AMZN 675 Puts @ 5.30 from 3.65
STC TSLA for .07 loss
STC UVXY 14.50 Calls @ 3.25 from .42
AND I scalped 8 trades for a collective 320% on VXX & SPY
Totally worth it...
In TSLA 190s @.22
BTO IBB 240 Puts @1.79
(Next week)
Been trading it a lot today myself
It just Shatnered the bed...
Too early imo
Internals accelerating downward...
UVXY 14 calls @.42 for DT
I think Greenspan might die right in front of our eyes on CNBC....this would cause a recession for sure
203.20 is my legit guess on SPY FWIW
Weird....did something happen over night?
First thought is don't ever market sell...
Not a futures board....so I don't post those trades. Fun night
I was up trade futures lol....crack head
Can you rephrase the question in the form of a POLL please....
SPY $198.17
Agreed....technical damage is pretty severe. I'll post chart with moving averages in a minute
VXX 20 Calls should be very nice today....see what I can squeeze out of these
Like these...nice
2 1/2 hours sleep.....Check! Lets rock and roll today