I haven't posted in a really long time... Thought I would put my 2 cents in today... For the last year I have fought the market, trying to guess the trend, when the entire time the only thing I had on my mind was how I was hammered in the crash... Negativity stays on your mind when you lose that much money in a short period of time... its nearly 6 years and I still think about it today, long after making much of it back...AIG Lehman brothers, bac fnma, everything was destroyed... I suggest everyone look back at a chart from 2008 to 2009...
Kind of keeps a lot of negativity in your mind, CAUTION... With that said, for the last 6 years we have just steadily grown and the market has been pretty good.. For that reason only... I hope everyone is prepared for the day this market turns over...
People will not sit idol this time and watch there retirements get eaten up...Many will bell and throw the anchor... They will get there profits and turn everything into cash in a heart beat...
I even noticed a post by Jimmybob playing puts in PCLN.... This is my favorite stock to play puts on... I personally cashed my 1145 today and turned them into cash pretty close to the bottom, walked away for the day and came back and purchased 1127.50 puts with half the profit...If the SPY does break 193 watch out... I also own some Dec 1000... which is my main safe play...
PCLN monthly is just starting down on the macd and the first target is 1067 which is the 20 day moving average... It could make that by Friday if fear hits 2 days in a row like today... Not saying that it will; but my Long term play is we see 996 which is the pivot point on the monthly or 993 which is the 100 day moving average on the Weekly... The MACD histogram is crossing over center line on the PCLN weekly chart and this will cause fear. MACD is also crossing over on the monthly for the first time since april of 2013 It could be a good play for a week, a month or the next 3 months... It could also turn and go north if there is enough big money protecting it... I always think the market is manipulated since the crash...
The price of gas is falling across the nation and that tells me interest rates are getting ready to go up... One usually tells what will happen for the other... They say gas pricing is going down because summer is over or because it adds money for retail shopping for the holidays... Think like a pro... not what the TV is telling you...
The market is in a frenzy so watch out. Volatility is a good thing for option players... just want to make sure your on the right side of the volatility or it will break you
Just my opinion..
Nothing I say is there for you to play or follow... I am a chartist and that's what I see...
I quit posting because I didn't want to change others decisions...
Have a good day trading tomorrow..
Kraigger23
