OK the markets went up to and eclipsed the $435.33 which I'm calling the "neck line" for the head and shoulders place we are currently still having. I sold a little of the Calls and picked up a few Puts. Then the price kept going up until $437.22 for the high of day, I sold some more shares soon after and picked up a few more Puts. Then the SPY came back down and closed below the neck line which makes that head and shoulders play still valid for you short players. So what happens tomorrow? Who the hell knows but as I bust out those Crystal Ballz, there is allot of it can go either way. If it goes up, I'm looking for an intraday level of $438.50ish for both a moving average and a gap fill situation. I'll be both a seller of calls and a buyer of Puts at this level while still holding onto about 35% of all calls I had while I wait for a sign and or signal. A close above the neck line from today, and the upward move can as is likely to continue, a move above the moving average and gap would also signal a continuation of the bullish behavior, but I would be selling Calls before the close while not necessarily picking up some more Puts.
How about if we wake up tomorrow and the whole word is gone to shyt? Well we have support at the $432.96 spot from the 20 DMA, a previous level of inference at $431.15, and my last line of defense right at last week's closing price of $426.65. I've been picking up Puts here and there, so I'm willing to let things go pretty bad before I bail on the short squeeze play, and if I sense that it is a fake out operation, I will be buying some short term Calls that expire on Friday on the way down to my line in the sand.
Anyway there is some news coming out that will probably move things around in the next couple of days, but as you know I don't know what those reports are, and I think they are just a catalyst to get the markets to move how it was going to move anyway.
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Symbotic
Been on this one for quite a while. Solid article and entry point here.
Symbotic is at a Critical Price Point: Are Big Gains in Sight? - MarketBeatLeave a comment:
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From a market prospective the weekend has been interesting. Usually after an invading force attacks a country and the futures market drags down the markets, that is a signal to buy. See my post for the Russian attack on the Ukraine on the day that happened, the dow was down almost 1000 to start the day and I told everyone early in the morning that the day would finish positive and it did. One of the best trading days I've ever had.
Today however the markets aren't down as much as I thought they would be, and also the bond markets are closed today. I'll be bailing out of those call positions I got last week, if that $418.30 (SPY) spot is breached on the way back down. I still think we have our short squeeze operation, but after filling a gap on the daily chart from Friday, markets could just fall apart here. My sentiment is still bearish, and this whole short squeeze play was a temporary thing. The new squabble in the middle east may truncate that squeeze real fast depending on how the lines of support in this conflict line up.Leave a comment:
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Guys
please keep the politics out of it.
stocks go up and down under R's and D's
if you look at it historically, the slightest of edges to the market under D's but it is razor thin.
the POTUS has way less control or impact on the stock market than people think.
FED, OIL, etc etc
these are much bigger factors.Leave a comment:
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Stocks having a Good Day.
Q: When does all this money-printing become the key factor?
Is there anything telling in the Housing/Auto/Labor market?
At some point, Fiat Money becomes funny money. Read your history. It happens over and over again.
The only real surprise is that Wilson/Johnson/Nixon oversaw this. And nobody really seemed to care.Leave a comment:
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Well the way I do it involves elements of time since the big boys with the money that move markets also have charts, they can manipulate charts to temporarily act like they want. For instance, they know a setup for a rally situation is on, but they also know that below $358.50 is an area where people are ready to sell with a stop loss. Setting a stop loss right at that spot, they can run the price down below which would trigger everyones stop loss. Then they collect all of those shares and afterwards the rally begins. It happens all the time.
What I do is set a conditional order that triggers after a period of time so in this instance, even though my stop loss order is set for $358.50, it only triggers after the close today on the weekly chart. This way i can endure the temporary dips below and thwart the games they play a little bit.
All of that said my line is below the low from today or yesterday we'll call it $355. If things go south today and around 3:30 it is obvious that the QQQ is going to close below that price, its time to unload. Currently, the other scenario is going on where price dips and then runs but that can change.
For SMH, that price is way off, $139.75.Leave a comment:
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Need the stock market to really tank now to fully ruin this Biden administration and pave the way for a better economy and stock market for us all under Trump in 2024.Leave a comment:
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Was waiting for this… What is a good number for a limit order to sell for QQQ and SMHLeave a comment:
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