Both qqq and spy are only down a bit (spy up a bit as of writing) and not os yet, with vix up a bit, a bunch of ark(x) are up a bit, some faang stocks are up a bit too. It seems there is no fear yet.

gdx strong, many gold miners up 10+%

that is how I trade

Thanks for the post as a reminder, it really helps when the post is close to the top when I wake up to check. IWM is at previous low.

Thanks for the post as a reminder, it really helps when the post is close to the top when I wake up to check. IWM is at previous low.

Agree with XLE, a bit scary / parabolic, 100% of sector has 20ema > 50ema, and 50ema>200ema, and 100% of stock price above 200ema.

KRE breaks out from its upper trend line of its bearish wedge from March to last week's high (lower trendline is from Sept to Dec lows), on the weekly chart. This should be super bullish.

I have been following XME, and someone posted it a few days ago, it is ready for break out. Just bought a small position bc I am 100% in now. If BAC and MS earnings are bad, I may cut some and buy more XME. Even if BAC and MS could go down I still think they will come back up, but from a R:R perspective XME may offer better upside soon, weekly is really good looking.

As for banks I got small positions on CMA and FITB when they dipped a bit, they are strong, not much pull back, my larger BAC and MS are down, but CUBI, SBNY, SCHW are all strong, dips are being bought. I still think BAC and MS will come back up.

TSM had good earnings yesterday (I sold it before got whipsawed), and today the gap down was bought, qcom, mu, amat all showed good strength, txn was downgraded but seems to be coming back, so I just bought soxl, risky but tsm seems strong.

It is possible that QQQ / XLK has just entered stage 3 top based on current weekly chart

vix down, I am closing iwm, net, spot puts, keeping xrt and ebay shorts

Thanks

Hi Steve, I am trying to learn, can you please elaborate your thought on this? "Big load of QQQQ puts below market today (20% below the market) - see if that provides any support for tomorrow".

How do you check puts are 20% below QQQ level?

If it is 20% below, why would that provide support since it is so far down?

Thanks in advance

Shorting is still a small part for me for now.  I bought puts on IWM and TZA today, and xrt puts, ebay puts and short, and NET puts a day before. I cannot get good price when they bounced to 20ema. But so far the high pe tech is where the shorts can be picked.

EWY, EWZ, EEM seen to finish the basing and move up while UUP is down.  A pull back is possible after today's move. I have entered the 2x ETF of all these 3 for a longer term hold unless the low breaks.

USO has been going stair case up for a week or 2, then a gap until 69, but XLE has already reached resistant.

Beautiful, I have it on my watch but I am waiting for my funds transfer, so may miss the break out here.

MTDR trying to go higher, just bought it after market

I am 80% in oil and banks stocks now.