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Almanac for the week:
Monday historically up 17/24
Then the week goes on to be bearish with Down ending down 10 of last 18, Average Loss -1.2%
Looking for 224, then move up, short term puts, with month + heavy weight to calls will exit puts at 224
Future's down -8.75 Glad I added some S.T. puts to hedge in case of a triangle or H/S formation, depending on if it breaks 2258 I'll hold my put's if it sticks at 2260 I'll exit them for 100%+ and flip to short term calls for another day flip... let's see
If it breaks 227.20 Tomorrow with momentum, look for 231.
Looking for 230ish still up through end of this week, if it doesn't occur I'll start looking for a retracement to around 219
Looking also potentially for a gap down right to 2260-2262 area to add more calls, then run up through the day. GLTA
Added short term 230 calls at close, GLTA
Insta shoot me the link in PM
I may depending on how much extra cash I pull in throughout the next month or so, posted back a month or so with a chart and an analysis disclosing that I just pop up here now days for fun to check up since I spent a solid year and a half here, I'm focused primarily on options currently and it requires me to use all of my capital to properly hedge and manage all of my contracts since all my positions are fairly complex and its more of my future so just been extremely dedicated to that since it's a whole new game. That's why I'm pretty active mainly just on the SPY board these days, but also makes me pretty unbiased with my opinion on RXMD these days, which in my unbiased opinion still agrees this stock has some huge price action upside potential and will be very reward for everyone who sticks with it till the next breakout.
A fun rule of thumb a lot of times for flat sideways move's creating a squeeze is draw a horizontal line through than transition it vertically to give an idea of the potential upside, so everyone can have fun with the math on this one
SPY ATH
Yeah I would hang onto them until a clear break of 2275, might even add some more hedged around here in case of a return to the 2249 area
Oh I'm doing good added some short term calls at LOD, I put the frown cause it's over 226.60 signaling position didn't go your way
But I'm still not comfortable till it makes new highs, can very easily flip and head back to bottom of this sideways channel,
A groups about to make so much money off of the next mark up it's ridiculous, the stocks been being accumulated for 6 months now lol, it's not simple supply at demand of the amazing otc markets keeping a perfect support area for this long if that's what anyone thinks lol... Watch for .10+ whenever selling dry's up and the mark-up begins. Just interested to see how it develops, whether it'll be like the last run steady, or like past July quick 500%+ and distribute, as well as the one jan 2015..
It is the season for it to move also
No problem! Looking for it to continue through, took some profits on short term calls today, would love for it to ride up to 2300-2320
" The last 42 up First Five Days were followed by full-year gains 35 times for an 83.3% accuracy ratio and a 13.6% average gain in all 42 years. With flat 1994, 2011, 2015, and four years related to war as the only exceptions. " - Stock Traders almanac
Also in post-election years this indicator has been accurate 12 of the 16 past post elections.
January Barometer week, let's see how it goes
July 2015 - Feb 2016
Me and him will have this discussion until we finally see the next retracements depth as I personally believe we're on wave 5 now.
But if we were just finishing wave 3 the correction would retrace to wave 4 of the extension wave ( wave 3 )
Which would more so look like this, ignore the time length as I didn't try to scale it with time.
Will use any further downward movement to take profits on my short term hedges and roll into feb calls
Historically every year except for one since 2,000( don't feel like grabbing my laptop to be precise which year ) the trend from November has continued through average gain from the move through Jan before the next retracement was 3.5% some went as high as 7-10% and higher...
Will stick to right around a 3% outlook to exit my short term calls at 230.
Also last day of the year selling off usually resulted in a nice strong open for the first trading day of the year, so should see a gap up and move.
What'd those cost you, stacked of bunch of 1/20's 229 earlier
Looking for 2236 now as next level, then if that follows through I'll be looking for 2190, which I don't think will occur.
Looking like a make or break point here closely for a retracement to begin or trend to continue..
Looking for this to work out similar to in the past in the highlighted box, pierce the 20 then shoot up for a final move to the top BB
lol yes, next year could potentially be very bad with all the previous factors stated in the persons prior message such as DB implosion, etc. read for yourself?
Simply read the whole message, makes sense, unless you lack of the comprehension level of the average individual.
Not hard to understand whatsoever.
Not reliant on it whatsoever lol, just a fun additive to my already short term bullish outlook until we reach the 229-231 area, honestly next year could go very badly, as well as usually the following year after a election the market does poorly is true, but I'm slowly becoming strongly convinced Feb's leg is kicking off the final wave 5, and we may see about another year or so if not slightly longer until we reach a full bear market... Guess we'll see, can only have fun with ideas of long term speculation at the moment with so many risk factors present.
Back to today: my bottom range for today is 2236, if we do see one more finale of a down leg, if not I'm confident in my positioning at 2241 that it will hold for some time.
50% Retracement level of a certain area, plus other factors, but that's the only I'll mention
I posted a section of one of the charts I was using for this trade setup, reference my post a couple days ago if it interest you much
Hmmm I called todays pivot point precisely a few days ago on here, just gotta look closely it has reasoning (:
practically it falls around 70-80% of the time whichever direction the first week of January goes, it paints the direction for whether the year will be up or down.
Of course last year was off, and isn't perfect, just a decent statistic that's been somewhat accurate. I think we'll have a positive year, therefore as the barometer would say next week should close green.
Also trying to play off of a positive "January barometer" with the first week of January so looks like we'll see
Picked up some Jan 20 229C for .51 each as some fun tickets
2242 is close enough to my 2241 target, loading some short term calls now.
Either that or another Doji, then move up all next week.
Really hope people don't buy into it lol... will be shorting it after the first mark-up
Unless it violates 2241, then I'll wait for either 2214, or for it to cross back over 2241 settle on top for a bar or two.
If it tags 2241, most likely I'll try to pick up a little stack 224C End of Jan/First week Feb expiration, ride it up then flip 1/2 of capital then all of profits into 229 2 month out Puts hoping for a return to 219....
Think it could have a pretty nice payout
But... might be getting a little greedy waiting for it to tag it, may just continue up from here as it's at the base of it's little sideways range
Looking to pick up calls @2241, followed by continuation to 2291, exit transition capital & profit from current calls to some put's looking for a fall to 2190... Hopefully works as planned clear a nice 500%
Picked up some just for the fun of it
told ya today would be up (:
224-225 gap filled now, Parabolic SAR flipped below, BB heading towards squeeze, oscillating around 20sma,Sitting on 50MA which has acted well as support on this move up, consolidation pattern, RSI cooled off now and back sitting at 50…
Volume create a battlefront here to act as support on VbPrice, Money flow’s showing some accumulation
( Read off of the hourly, not daily)
Look’s like it’s time for us to hit my 231 target, then I'll add some more to my short bias.