$SPX - Chart Link - again guys remember my
discussions on the 9 and 20 MA slopes as your guide to take profits
or hold for the bigger trade. Even though I think there's a
good possibility that today could have marked some sort of high for
a while, I was still VERY aggressive at taking profits on shorts
today because the MA's still have a strong slope. The SPX is
up 20 points off the lows and I covered my shorts for nice profits
at the lows on that wedge and even went long. Now I can
simply re-establish the shorts back if I want. Remember I said that
when the MA's are still strong that you tend to have big intra day
through back bounces. Again I think today could have marked
some sort of high but I still look to take profits fairly quickly
because I expect bounce backs intra day
The time to let shorts run for big trades is when the MA's are
flat and especially sloping down like last fall.
On the long side, my portfolio is 100% spread trades right now
(many of them BPT ideas). I have been buying deep in the money
calls (stock replacement with very little premium) and selling in
the money calls so I can enter with some downside protection built
in. Yes, I limit my upside with this approach, but it seems
crazy to put new long money to work with the charts looking the way
they do right now.
Remember to take those profits when you can
Posted by matt on 4th of Mar 2019 at 02:44 pm
$SPX - Chart Link - again guys remember my discussions on the 9 and 20 MA slopes as your guide to take profits or hold for the bigger trade. Even though I think there's a good possibility that today could have marked some sort of high for a while, I was still VERY aggressive at taking profits on shorts today because the MA's still have a strong slope. The SPX is up 20 points off the lows and I covered my shorts for nice profits at the lows on that wedge and even went long. Now I can simply re-establish the shorts back if I want. Remember I said that when the MA's are still strong that you tend to have big intra day through back bounces. Again I think today could have marked some sort of high but I still look to take profits fairly quickly because I expect bounce backs intra day
The time to let shorts run for big trades is when the MA's are flat and especially sloping down like last fall.
On the long side, my
Posted by jtsurfah on 4th of Mar 2019 at 03:35 pm
On the long side, my portfolio is 100% spread trades right now (many of them BPT ideas). I have been buying deep in the money calls (stock replacement with very little premium) and selling in the money calls so I can enter with some downside protection built in. Yes, I limit my upside with this approach, but it seems crazy to put new long money to work with the charts looking the way they do right now.
you bet i see a
Posted by RP on 4th of Mar 2019 at 03:05 pm
you bet i see a nice round number i push buttons fast. i dont need the high or the low i just like a slice of that coconut cream pie