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ES 35 points off resistance

ES Resistance 2470-72

Posted by steve on 24th of Mar 2020 at 07:24 pm

ES 35 points off resistance thus far 

$NYMO approaching down trend line.

Posted by elliotw on 24th of Mar 2020 at 07:22 pm

$NYMO approaching down trend line.  Bearesh div of SPX to Lower highs on $Nymo consistently occurred before market pull backs in 2019/2020.  

Tom McCellan wrote an article in Jan 2020 regarding watching the declining lower highs trend line as bearesh.  $Nymo is now approaching the TL. If it breaks through could be bullish 

May fill the gap tomorrow

ES Resistance 2470-72

Posted by ssaffer on 24th of Mar 2020 at 07:13 pm

May fill the gap tomorrow am before the next up move or if the stimulus bill is not passed - could see a deeper move down.   Or a deal is done before the open and see how the market reacts to it (sell the news or buy the news), kind of like a Fed day. 

ES pulling back from resistance

ES Resistance 2470-72

Posted by steve on 24th of Mar 2020 at 07:06 pm

ES pulling back from resistance below

Not yet but was told

PRED - Covid19 Test

Posted by steve on 24th of Mar 2020 at 07:02 pm

Not yet but was told application submitted via fast track (BARDA exemption) . The FDA  also announced a new ruling last week allowing for certain testing to occur immediately. 

Approved by FDA yet?

PRED - Covid19 Test

Posted by pmahoney on 24th of Mar 2020 at 06:52 pm

Approved by FDA yet?

PRED - Covid19 Test

Posted by steve on 24th of Mar 2020 at 06:50 pm

https://predictivelabs.com/assurance-ab-covid19/

Noticed that this was posted on their new dedicated website. 

ES Resistance 2470-72

Posted by steve on 24th of Mar 2020 at 06:36 pm

ES Resistance 2470-72

The irony is that my

Posted by mdgfain on 24th of Mar 2020 at 06:05 pm

The irony is that my most profitable trade of the day was on TQQQ April 17 $81 calls that I had stubbornly held onto and added to over the past few weeks. They had dropped to 0.01 and I was able to catch a bounce to 0.28 today. I know that sounds crazy, since TQQQ closed at 43.56, but it worked. It worked for me because I felt strongly that it would bounce before 4/17 and refused to sell for less than 0.15.  MATT and STEVE helped time my final sale. Sure, if I had held and it pops again tomorrow, I left plenty of money on the table, but as they say, pigs get slaughtered! Sometimes luck and persistence with a plan is better than skill!

LNC.  up 31% today.  

Posted by ssaffer on 24th of Mar 2020 at 05:47 pm

LNC.  up 31% today.   Was my big trade of the day.   Bought in  yesterday, as this great company was thrown out with the bath water.  The liquidation value of this stock in around $30/share.  Price dislocations create huge opportunities.   Also was a good day to unload a couple of turds at break even.  

BPSPX follow up

Posted by matt on 24th of Mar 2020 at 05:09 pm

$BPSPX - Chart Link that played out well, last night I said you had the big trend short trade, and the two whipsaw buy and sell signals and the next one would be decent, that triggered basically on the open so that played. Nice that it updates intra day vs after the close

You can see the times in the past when you had a trend move then two back to backwhipsaws - highlighted those in yellow. 

so whenever I get two whips in a row, then I knew to take the next one

CNBC discussing shortage on Tests currently

Stockcharts gerbils worn out from all the action 

No too often you see ES up 200+ in a day.  The rubber band was stretched and relief rally commenced as some of the virus data provided hope

Cities (like NYC) and States etc are still coveting huge numbers of test kits 

Was this one of those

Posted by mdgfain on 24th of Mar 2020 at 04:22 pm

Was this one of those “rip your face off” bear market rallies you sometimes refer to?  I guess so, best day since 1933!  

The question remains, “Will you still love me tomorrow?” It ended right on the last high. I’m equally hedged both ways, and will not be surprised if the market drifts back down to -3100 then rallies when Congress finally seals the deal. That is, unless this is a “ buy the rumor, sell the news” sort of deal.  

Thanks again to you and Steve, I made over 5k today, and almost doubled my play money since this drop started!

and what are we paying

9 EMA on daily is first target

Posted by morton7 on 24th of Mar 2020 at 04:16 pm

and what are we paying them for??

Same definition of "Persistence" ;-)

Definition of insanity: Making the

Posted by jroger on 24th of Mar 2020 at 04:09 pm

Definition of insanity: Making the same mistakes over and over and expecting different outcomes (in this case, the FED and the government).

9 EMA on daily is first target

Posted by matt on 24th of Mar 2020 at 03:55 pm

$SPX - Chart Link - currently intra day charts are not working on Stockchats.com for me

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