realize we favor an eventually move up to around the 3800 area
on SPX and for price to breakout of the channels, that's our
favored scenario - maybe price holds up a couple weeks as
well
Thanks Matt, I appreciated the chart you posted as well with the
symmetry. Would love a sustained rally for my long term
inventory.
This particular small short trade is simply for some quick
money, an objective spot with resistance around that area to
try.
This could end up just being a scalp but I'd prefer the pain to
happen overnight so I don't have to sit on it. Smaller so in case
I'm wrong i can enter more higher with plenty of room. I don't
think it's headed straight up into year end. I do however think
there is a possibility we have seen the lows for 2022.
The 3,583 gap was one reason why I wanted to take a small shot.
I've been making quicker trades on both sides until this sets up
better. Nimble is as nimble does haha
exactly and be nimble. surprises come in the direction of the
trend and since price closed at the channel, some negative news
could come out of nowhere and send price right down from here.
Price could break out of the channel and go up for a couple
days (maybe Wed) to 3800, then top and drop to new lows. Or price
could chop around higher for a couple weeks before dropping again,
be nimble
Not to be funny but under a Wave B Flat of Wave 5 of an
expanding diagonal, you will see major gyrations in both
directions. Such a move would be a 3-3-5 structure over the
next couple of weeks.
It did sound funny, started my morning off right :) I'll be
there to capitalize on both directions when it happens.
Gapping up this morning to fill the 3,744 gap, fill a gap with a
gap. Next gap higher isn't until 4,110. Two gaps lower now if this
holds, yesterday's close at 3,677.95 and another at 3,583.07. We
have seen this movie before. No idea on timing for the drop but it
will come. It can be day, day(s), or months, only Oz knows.
I'll take another 1/3 near premarket highs for my short
trade/hedge. I now have 2/3 of a 1st entry position. Any good move
down I'll likely take profits and reset. I'm in good company here
with trading and have learned to protect first and make money after
that.
My long term stuff all very happy this morning so far
otherwise.
SPX market is ripping in
Posted by fundamentalvalues on 17th of Oct 2022 at 07:30 pm
SPX market is ripping in the after-hours. I'm going to take a shot here for a 1/3 of normal size 1st entry short via SPXS. Price $26.04.
Depending on what happens overnight it could be either a quick payday or I may need to hold a bit if they hold another gap up. We shall see.
I like having a little here with the gap below open still and now it gapping again. Also opex.
realize we favor an eventually
Posted by matt on 17th of Oct 2022 at 07:43 pm
realize we favor an eventually move up to around the 3800 area on SPX and for price to breakout of the channels, that's our favored scenario - maybe price holds up a couple weeks as well
Thanks Matt, I appreciated the
Posted by fundamentalvalues on 17th of Oct 2022 at 08:37 pm
Thanks Matt, I appreciated the chart you posted as well with the symmetry. Would love a sustained rally for my long term inventory.
This particular small short trade is simply for some quick money, an objective spot with resistance around that area to try.
This could end up just being a scalp but I'd prefer the pain to happen overnight so I don't have to sit on it. Smaller so in case I'm wrong i can enter more higher with plenty of room. I don't think it's headed straight up into year end. I do however think there is a possibility we have seen the lows for 2022.
Only looking for a temporary
Posted by steve on 17th of Oct 2022 at 08:53 pm
Only looking for a temporary retracement to the upside so remain nimble - as I told Matt - believe we retest 3500 fairly quickly. Trade your plan
The 3,583 gap was one
Posted by fundamentalvalues on 17th of Oct 2022 at 09:10 pm
The 3,583 gap was one reason why I wanted to take a small shot. I've been making quicker trades on both sides until this sets up better. Nimble is as nimble does haha
exactly and be nimble. surprises
Posted by matt on 17th of Oct 2022 at 09:03 pm
exactly and be nimble. surprises come in the direction of the trend and since price closed at the channel, some negative news could come out of nowhere and send price right down from here. Price could break out of the channel and go up for a couple days (maybe Wed) to 3800, then top and drop to new lows. Or price could chop around higher for a couple weeks before dropping again, be nimble
I think you listed all
Posted by fundamentalvalues on 17th of Oct 2022 at 09:19 pm
I think you listed all possibilities here, down, up, and sideways chop. I bet one of those is right haha
Not to be funny but
Posted by steve on 18th of Oct 2022 at 04:13 am
Not to be funny but under a Wave B Flat of Wave 5 of an expanding diagonal, you will see major gyrations in both directions. Such a move would be a 3-3-5 structure over the next couple of weeks.
It did sound funny, started
Posted by fundamentalvalues on 18th of Oct 2022 at 07:15 am
It did sound funny, started my morning off right :) I'll be there to capitalize on both directions when it happens.
Gapping up this morning to fill the 3,744 gap, fill a gap with a gap. Next gap higher isn't until 4,110. Two gaps lower now if this holds, yesterday's close at 3,677.95 and another at 3,583.07. We have seen this movie before. No idea on timing for the drop but it will come. It can be day, day(s), or months, only Oz knows.
I'll take another 1/3 near premarket highs for my short trade/hedge. I now have 2/3 of a 1st entry position. Any good move down I'll likely take profits and reset. I'm in good company here with trading and have learned to protect first and make money after that.
My long term stuff all very happy this morning so far otherwise.
And Oz ain’t saying. He’s
Posted by mdgfain on 18th of Oct 2022 at 09:13 am
And Oz ain’t saying. He’s tied up campaigning!