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Yep we have the markets making a bull flag on the daily chart so don't be shocked when they go up. To play this, I am buying calls that expire on Friday or even sooner, then at every resistance area, I buy PUTS that expire late Jan or maybe even mid Feb.Leave a comment:
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I guess Mr. Market loves all the world turmoil. What's going on here?Leave a comment:
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i should've piled into all of these a week ago
at least i nibbled on some more pep and tgt right near the bottomLeave a comment:
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Slurry ... Not sure if I'm the only one, but while I love and appreciate your input I wish you could put your intellect in a form us normal traders could digest.
All my best!!Leave a comment:
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3rd day in a row the SPY tried to fill the gap only to not get too far. When the markets try to go one way and get rejected, then they typically go the other way and that is what happened today, right on down to $431.23 which if you're paying attention is just $0.08 from where I have my support level I told you about. After shaking out the Longs, the Trick, Trap, Fool and F you sideways crowd turn around yet again. it was a great day, I still have some Calls for tomorrow, and I still have some of the long term calls that expire in January left. I also have a small amount of Puts that expire in January. Tomorrow, I'll be unloading those calls that expire of course, and probably a little more of the ones that expire in January. We'll see, I really don't want to hold any thing long going into the weekend, but I will hang on to a growing Put position for the long haul. i'm still in the doom and gloom camp, but the short squeeze isn't quite dead yet and thus can gain legs to go for the gap fill ether today or next week.Leave a comment:
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Treasury Yields
There's a message here.
Though QT has reduced the Fed's balance sheet by $1 trillion overall since beginning last year, the central bank has added around $77.5 billion in bonds with maturities of 10 years or more, according to St. Louis Fed data.Leave a comment:
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Yesterday markets moved down to my 1st level of support (almost), and I did buy those Calls that expire on Friday. Then it turned around but didn't make it to the gap fill scenario. That's OK today is another day. Same plays as above. We can see a continuing short squeeze and maybe a rug pull here once the inflation numbers come out. Either way, I'm following the plan like a robot.Leave a comment:
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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.Last edited by Slurry Pumper; 10-10-23, 06:05 PM.Leave a comment:
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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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