MBI setting a new high

Posted by jj4376jc on 23rd of Jul 2021 at 12:24 pm

MBI setting a new high today, hoping for more to come

SPX 5 min, bull flag?

Posted by matt on 23rd of Jul 2021 at 12:15 pm

AAZZF defending previous breakout level.

Posted by retirefire on 23rd of Jul 2021 at 12:06 pm

AAZZF defending previous breakout level.

IWM is down and $NYAD cumulative below 50 day SMA. 

Update: Update: Update: TICK pivots

TICK pivots

Posted by matt on 23rd of Jul 2021 at 12:00 pm

$SPX - Chart Link- price did indeed move a good 20 points higher after breaking through that TICK pivot - per my comments below that the average move I've noticed is 15 - 20 points when those are broken

again in the future consider

TICK pivots

Posted by matt on 23rd of Jul 2021 at 11:57 am

again in the future consider doing more than one call option, that way when I sell 1/2 the SPY system you can elect to sell 1/2 the ETF and 1/2 the options instead of all the options. If you buy 2, 4, 8 options etc, you have the ability to always keep one or several, vs if you only have 1 you can't split it in 1/2

I don't know what that PMO is based on but may be a function of the market being led to new highs by only the generals a handful of large weighted stocks, with many small names not participating. But again you have to investigate to see how that is calculated

Weird thing is !PMOBUYALL is

Posted by timebandit on 23rd of Jul 2021 at 11:45 am

Weird thing is !PMOBUYALL is pegged at zero during a meltup. No matter, because price rules!

Thanks and way to formulate and execute a plan

Been one heckuva run! Cashing

Posted by profmel on 23rd of Jul 2021 at 11:39 am

Been one heckuva run! Cashing out both retirement and NQ to 75% cash and just holding my last three funds: Blackrock Science & technology; Franklin Dynatech; and MFS Global Growth. If I leave $$$ on the table so be it. Too many gremlins in the breadth numbers, strange V-bounce this week, low volume even on 90% up days, and officially do not trust the Fed to have it under control. This is my SWAN strategy so I can enjoy my vacation month and be thankful for a bountiful year! GTC's to sell AMD if we hit $95 again and sold all my FANGs this morning. Thanks, Steve and Matt -- for a very educational year! I've learned more from you at 63 than I did in the past twenty years in the biz! God bless you both!!!

I would assume there is

TICK pivots

Posted by mitchell on 23rd of Jul 2021 at 11:34 am

I would assume there is serious short covering adding to this parabolic move. Wish I would have held my calls. 

Nice move on MCD 

MCD coiled 

Posted by steve on 23rd of Jul 2021 at 11:30 am

Nice move on MCD 

in my observations whenever those

TICK pivots

Posted by matt on 23rd of Jul 2021 at 11:07 am

in my observations whenever those TICK pivots get taken out (to the upside or downside) the average move is about 15 - 20 points.

Update: Update: TICK pivots

TICK pivots

Posted by matt on 23rd of Jul 2021 at 11:05 am

$SPX - Chart Link- nice all time highs baby!

initially this morning price stalled at the TICK pivot resistance area, but once it was taken out, it opened up the spigot for a melt up move 

Sweet trades.

Following up on some Long ideas

Posted by timebandit on 23rd of Jul 2021 at 11:04 am

Sweet trades.

Short SPCE Updated View

Posted by steve on 23rd of Jul 2021 at 10:52 am

FOLD hit long-term support this

Posted by timebandit on 23rd of Jul 2021 at 10:38 am

FOLD hit long-term support this morning in the 8.60 area. It has bounced. We'll see if it was a good buy there or not.

LUMBER funny one of my better trades this week

Posted by matt on 23rd of Jul 2021 at 10:35 am

$LUMBER - Chart Link nice rally off that 5th wave low

WOOD - Chart Link I bought that ETF at 84, been a nice trade 

funny never thought one of my better trades would be with lumber 

Textbook example of that 4 color change ABC

Posted by matt on 23rd of Jul 2021 at 10:22 am

I've discussed these many times, when the BPT MA Deluxe over the ribbon has that 4 color change it signals an ABC, you can see how that was textbook on AMD

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