Posted by fredsaid on 24th of Mar 2023 at 02:41 pm
There is the answer I was looking for... knew it would be
clarified within minutes. I really wanted to see the DOW get
down -350 today and it only made it to about -295 this morning.
I unloaded half the shorts then and my SPY shorts.
Added longs on the MACD kiss and those are holding up well.
But now that we have the flat to up move in financials/market
I referenced earlier today, I think we are going to wake up to a
bloddy Monday and yes will be putting on some shorts, especially in
banks for next week into a green close.
I saw no exhaustion selling on a momentum reading either. Only a
muted moved down and a reversal up off what could be deemed a
logical place to induce a bounce. Short-term MAs are still pointing
up. A squeeze continues.
Edit: Gold seems to believe that something is being
implemented behind the scenes.
Posted by fredsaid on 24th of Mar 2023 at 02:56 pm
Could still get a hard sell late day but I'd like to see 3977
before i re-enter ST shorts or add to LT shorts based on the W and
Cup and H playing out.
shorted IAU yesterday on that move up . they have to plug the
dike or we will see 2800 on sp500 which will still happen just not
yet more like next spring when all FED rate hikes kick
in..
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Blow up at 2:30 or
Posted by fredsaid on 24th of Mar 2023 at 02:26 pm
Blow up at 2:30 or onwards and upwards to 3980. Should find out in about 5 mins.
fredsaid, are you shorting this
Posted by junkie on 24th of Mar 2023 at 02:34 pm
fredsaid, are you shorting this move? I am not convinced that the bottom of the move down is in, but a bounce could continue higher and into Monday.
There is the answer I
Posted by fredsaid on 24th of Mar 2023 at 02:41 pm
There is the answer I was looking for... knew it would be clarified within minutes. I really wanted to see the DOW get down -350 today and it only made it to about -295 this morning. I unloaded half the shorts then and my SPY shorts. Added longs on the MACD kiss and those are holding up well. But now that we have the flat to up move in financials/market I referenced earlier today, I think we are going to wake up to a bloddy Monday and yes will be putting on some shorts, especially in banks for next week into a green close.
I saw no exhaustion selling
Posted by junkie on 24th of Mar 2023 at 02:47 pm
I saw no exhaustion selling on a momentum reading either. Only a muted moved down and a reversal up off what could be deemed a logical place to induce a bounce. Short-term MAs are still pointing up. A squeeze continues.
Edit: Gold seems to believe that something is being implemented behind the scenes.
Could still get a hard
Posted by fredsaid on 24th of Mar 2023 at 02:56 pm
Could still get a hard sell late day but I'd like to see 3977 before i re-enter ST shorts or add to LT shorts based on the W and Cup and H playing out.
shorted IAU yesterday on that
Posted by RP on 24th of Mar 2023 at 02:54 pm
shorted IAU yesterday on that move up . they have to plug the dike or we will see 2800 on sp500 which will still happen just not yet more like next spring when all FED rate hikes kick in..