Nice trade, Steve. The market will be setting up here for a
rally as the Fed meeting gets closer. If I had puts, I'd be
considering closing them out as well. Just hard to believe they are
going to want to pay them all out by expiration this week. My view
is even if we make a new low for the year that it won't go severely
lower this year, though I guess we will see what prices say day to
day.
At some point the market will go back up and test the 50 and 200
day moving averages. The market is very stretched away from the 9
day right now at 4,093. I smell a good reversion to mean trade
coming at some point.
Symmetry if similar to the last decline leg would put us in the
3,729 area, that is congruent with the 3,720-40 support level you
mentioned in your notes. So in looking for an objective entry, I
think I'll just revisit at the market close today. Sometimes having
a rest is important to being able to remain objective for me. At
that's my opinion, maybe worth a cup of coffee on a good day
As I figured this morning, came right into the 3,720-40 support
area and just a few points shy of the symmetry estimate of 3,729
with 3,734 at the low. I'm now long SPXL on the close for a first
entry. Also bought some LABU.
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ES gap down - taking
ES VWAP 3937 stalled that bounce
Posted by steve on 12th of Jun 2022 at 06:13 pm
ES gap down - taking some profits to protect - UVXY going to be very nice come Monday it appears
Nice trade, Steve. The market
Posted by fundamentalvalues on 13th of Jun 2022 at 07:46 am
Nice trade, Steve. The market will be setting up here for a rally as the Fed meeting gets closer. If I had puts, I'd be considering closing them out as well. Just hard to believe they are going to want to pay them all out by expiration this week. My view is even if we make a new low for the year that it won't go severely lower this year, though I guess we will see what prices say day to day.
At some point the market will go back up and test the 50 and 200 day moving averages. The market is very stretched away from the 9 day right now at 4,093. I smell a good reversion to mean trade coming at some point.
Symmetry if similar to the last decline leg would put us in the 3,729 area, that is congruent with the 3,720-40 support level you mentioned in your notes. So in looking for an objective entry, I think I'll just revisit at the market close today. Sometimes having a rest is important to being able to remain objective for me. At that's my opinion, maybe worth a cup of coffee on a good day
As I figured this morning,
Posted by fundamentalvalues on 13th of Jun 2022 at 04:56 pm
As I figured this morning, came right into the 3,720-40 support area and just a few points shy of the symmetry estimate of 3,729 with 3,734 at the low. I'm now long SPXL on the close for a first entry. Also bought some LABU.