Replies to post #18387 on Mostly: Classical

[ItsAllCyclical]

If you focus more on the last 6 months you can see that GE outperformed to the downside. I don't see how the SPY can bounce here w/out GE outperforming at least ST to the upside. Again we'll find out tomorrow. I can see GE lower from here, but not without some sort of bounce. Part hunch, part TA.

I didn't take off the DZZ hedge yet. I think there's more to go at this pt. Looking for 920-930 POG. However, in this market is hard not to take profits 100% of the time when seen on a quick intra-day basis. We'll see if it works. Underwater on GE already, but thankfully didn't put too much capital up. Will probably stop out at 8.5 ish if seen.

[ItsAllCyclical]

GE comparison



Again just a ST trade. Overdone ST, but IT possible that it goes lower. Volume starting to increase to potential for bounce here and a decent one % wise, but no guarantee of course.

I count five clear waves down on the weekly. But not sure if the 5th is done. Guessing a bit more, but I think this is a decent entry here w/a relatively tight stop. Daily looks like the 5th could be complete, but as always they could extend. Need to do more FA work tonight.