Updating this again at the close with the current chart. just a
gorgeous example, the gap over the ATR indicator on Tuesday morning
was enough to get you long, i.e. breakaway gap. Then immediately
you place a stop at that low where the fast BPT MA went red to
green.
Then you simply move the stops up to each higher low. Now you
have 4 of them with the new one at 87.4 on SSO. On SPY would be
254.8, on SPX Index would be 2540
I’m sure there’s an answer to this already so let me
apologize in advance, but have you shared a TradeStation workspace
for the trend-following stuff yet? If so, where can I get
that??
I'd say around 254. My Tradestation is currently locked up
- that 50 point move in the market caused it to freeze - too much
tick data coming at once, TS freezes. I'm sure it will
unfreeze once TS catches up.
but otherwise eyeballing the charts looks around 254 - 254.5
HK impressive. They are not letting any foreigners in and
shutdown their borders once a couple of cases were reported.
They dealt with SARS back in the day so they were much better
prepared than us. I was shocked to see that Mardis Gras still
went down. That's not good.
nice comparison chart to 1929 , lines of thousands
of unemployed workers in Australia not seen since the the 1929
depression. State boarders closed to interstate travel first
time in 100 years. Interesting times
$USD. The trend is up and very bullish. Soon I
will start a core position around the 10 day ma/Daily chart.
UUP. Its a boring play but I like boring positions with no
feeding frenzies. I like Gold and Silver but there is way too
much enthusiasm right now. I think the metals chop
around for a while.
Posted by goldnice on 24th of Mar 2020 at 08:40 pm
I am a buyer of gold and especially silver at any price! I
thought i would have to wait many more years before the fed went
all in with {Unlimited QE} {ZIRP infinity} {Pandemic Purchase
Programs} {Buying Corporate Bonds} {$6 trillion Dollar Bailouts}.
This current world situation just forced the inevitable to the
forefront. Thank god that the gold and silver community has a
complete playbook for this exact economic scenario!
Posted by goldnice on 24th of Mar 2020 at 08:08 pm
ABX.TO {Big Picture} Monthly Chart Gold Stock. Looking out even
further it's even more bullish than the{weekly}chart i posted
below. This kind of setup is what i have been waiting years for.
You have a massive {Cup} setup and a {Wave 3} setup. Both trigger
long at $29.84.
Steve - On chart 20 tonight, 60 min of the VIX, you said "we
also had the opex/opecs (sp?) last Friday which tends to be
restrictive on the VIX." What is it you were referring to?
Thanks.
Posted by goldnice on 24th of Mar 2020 at 07:43 pm
ABX Gold Stock. Weekly Chart. This is my preferred {Elliott
Wave} count. {Wave 1} was a 5 Wave impulsive move from Sept 2018 to
Feb 2020 at $29.83. The {Wave 2} bottom was at $17.52. Big bullish
{Wave 3} setting up.
$NYMO approaching down trend line. Bearesh div of SPX to
Lower highs on $Nymo consistently occurred before market pull backs
in 2019/2020.
Tom McCellan wrote an article in Jan 2020 regarding watching the
declining lower highs trend line as bearesh. $Nymo is now
approaching the TL. If it breaks through could be bullish
March 16, the FDA updated its “Policy for Diagnostic
Tests for Coronavirus Disease-2019 during the Public Health
Emergency” document.
https://www.fda.gov/media/135659/download
As a result, BioMedomics will be able to distribute our
COVID-19 IgM-IgG Antibody Rapid Test to any licensed healthcare
practitioner in the United States for diagnostic use starting on
March 17, 2020.
From BioMetrics quote request page (they can't keep up
with demand)
NOTE: Due to high demand and the need to fulfill existing
orders, BioMedomics is temporarily halting new orders for COVID-19
tests. Our company will continue to fill all existing orders, and
explore new ways to source materials and expand capacity to meet
the growing demand for our tests. We are committed to doing our
part to battle COVID-19.
The winner will be the company with the best supply
chain.
Not yet but was told application submitted via fast track (BARDA
exemption) . The FDA also announced a new ruling last week
allowing for certain testing to occur immediately.
May fill the gap tomorrow am before the next up move or if the
stimulus bill is not passed - could see a deeper move down.
Or a deal is done before the open and see how the market reacts to
it (sell the news or buy the news), kind of like a Fed
day.
The irony is that my most profitable trade of the day was on
TQQQ April 17 $81 calls that I had stubbornly held onto and added
to over the past few weeks. They had dropped to 0.01 and I was able
to catch a bounce to 0.28 today. I know that sounds crazy, since
TQQQ closed at 43.56, but it worked. It worked for me because I
felt strongly that it would bounce before 4/17 and refused to sell
for less than 0.15. MATT and STEVE helped time my final sale.
Sure, if I had held and it pops again tomorrow, I left plenty of
money on the table, but as they say, pigs get slaughtered!
Sometimes luck and persistence with a plan is better than
skill!
LNC. up 31% today. Was my big trade of the day.
Bought in yesterday, as this great company was thrown
out with the bath water. The liquidation value of this stock
in around $30/share. Price dislocations create huge
opportunities. Also was a good day to unload a couple of
turds at break even.
$BPSPX - Chart Link that played out well,
last night I said you had the big trend short trade, and the two
whipsaw buy and sell signals and the next one would be decent, that
triggered basically on the open so that played. Nice that it
updates intra day vs after the close
You can see the times in the past when you had a trend move then
two back to backwhipsaws - highlighted those in yellow.
so whenever I get two whips in a row, then I knew to take the
next one
Was this one of those “rip your face off” bear
market rallies you sometimes refer to? I guess so, best day
since 1933!
The question remains, “Will you still love me
tomorrow?” It ended right on the last high. I’m equally
hedged both ways, and will not be surprised if the market drifts
back down to -3100 then rallies when Congress finally seals the
deal. That is, unless this is a “ buy the rumor, sell the
news” sort of deal.
Thanks again to you and Steve, I made over 5k today, and almost
doubled my play money since this drop started!
The community is delayed by three days for non registered users.
beautiful example of 15 min SSO using a trend type system
Posted by matt on 26th of Mar 2020 at 03:39 pm
Updating this again at the close with the current chart. just a gorgeous example, the gap over the ATR indicator on Tuesday morning was enough to get you long, i.e. breakaway gap. Then immediately you place a stop at that low where the fast BPT MA went red to green.
Then you simply move the stops up to each higher low. Now you have 4 of them with the new one at 87.4 on SSO. On SPY would be 254.8, on SPX Index would be 2540
Hey Matt— I’m sure there’s an
Posted by pep8261 on 27th of Mar 2020 at 10:35 am
Hey Matt—
I’m sure there’s an answer to this already so let me apologize in advance, but have you shared a TradeStation workspace for the trend-following stuff yet? If so, where can I get that??
What is the equivalent stop
Posted by tgo5043 on 26th of Mar 2020 at 03:45 pm
What is the equivalent stop on SPY Matt? Thanks!
I'd say around 254. My
Posted by matt on 26th of Mar 2020 at 03:57 pm
I'd say around 254. My Tradestation is currently locked up - that 50 point move in the market caused it to freeze - too much tick data coming at once, TS freezes. I'm sure it will unfreeze once TS catches up.
but otherwise eyeballing the charts looks around 254 - 254.5
We are the best! I
Posted by golfmyway5 on 24th of Mar 2020 at 11:18 pm
We are the best! I guess we shouldn't be proud of being the best on this graph
HK impressive. They are not
Posted by ssaffer on 24th of Mar 2020 at 11:25 pm
HK impressive. They are not letting any foreigners in and shutdown their borders once a couple of cases were reported. They dealt with SARS back in the day so they were much better prepared than us. I was shocked to see that Mardis Gras still went down. That's not good.
1929 - 2020 Analog Update.
Posted by goldnice on 24th of Mar 2020 at 08:48 pm
1929 - 2020 Analog Update.
nice comparison chart to 1929
Posted by elliotw on 24th of Mar 2020 at 08:56 pm
nice comparison chart to 1929 , lines of thousands of unemployed workers in Australia not seen since the the 1929 depression. State boarders closed to interstate travel first time in 100 years. Interesting times
$USD. The trend is
Posted by ssaffer on 24th of Mar 2020 at 08:42 pm
$USD. The trend is up and very bullish. Soon I will start a core position around the 10 day ma/Daily chart. UUP. Its a boring play but I like boring positions with no feeding frenzies. I like Gold and Silver but there is way too much enthusiasm right now. I think the metals chop around for a while.
I am a buyer of
Posted by goldnice on 24th of Mar 2020 at 08:40 pm
I am a buyer of gold and especially silver at any price! I thought i would have to wait many more years before the fed went all in with {Unlimited QE} {ZIRP infinity} {Pandemic Purchase Programs} {Buying Corporate Bonds} {$6 trillion Dollar Bailouts}. This current world situation just forced the inevitable to the forefront. Thank god that the gold and silver community has a complete playbook for this exact economic scenario!
ABX.TO {Big Picture} Monthly Chart
Posted by goldnice on 24th of Mar 2020 at 08:08 pm
ABX.TO {Big Picture} Monthly Chart Gold Stock. Looking out even further it's even more bullish than the{weekly}chart i posted below. This kind of setup is what i have been waiting years for. You have a massive {Cup} setup and a {Wave 3} setup. Both trigger long at $29.84.
Does it need a handle
Posted by jroger on 24th of Mar 2020 at 08:27 pm
Does it need a handle to form? Could be a year.
Tuesday Newsletter
Posted by steve on 24th of Mar 2020 at 08:03 pm
Tuesday Newsletter
Steve - On chart 20
Posted by shecar on 24th of Mar 2020 at 10:40 pm
Steve - On chart 20 tonight, 60 min of the VIX, you said "we also had the opex/opecs (sp?) last Friday which tends to be restrictive on the VIX." What is it you were referring to? Thanks.
Squash premiums into OPEX as
Posted by steve on 25th of Mar 2020 at 06:06 am
Squash premiums into OPEX as the larger players tend to be sellers of options
ABX Gold Stock. Weekly Chart.
Posted by goldnice on 24th of Mar 2020 at 07:43 pm
ABX Gold Stock. Weekly Chart. This is my preferred {Elliott Wave} count. {Wave 1} was a 5 Wave impulsive move from Sept 2018 to Feb 2020 at $29.83. The {Wave 2} bottom was at $17.52. Big bullish {Wave 3} setting up.
$Nymo Divergences generally marked market
Posted by elliotw on 24th of Mar 2020 at 07:27 pm
$Nymo Divergences generally marked market declines in past year. I reproduced this Chart From Tom McCellan's work
$NYMO approaching down trend line.
Posted by elliotw on 24th of Mar 2020 at 07:22 pm
$NYMO approaching down trend line. Bearesh div of SPX to Lower highs on $Nymo consistently occurred before market pull backs in 2019/2020.
Tom McCellan wrote an article in Jan 2020 regarding watching the declining lower highs trend line as bearesh. $Nymo is now approaching the TL. If it breaks through could be bullish
PRED - Covid19 Test
Posted by steve on 24th of Mar 2020 at 06:50 pm
https://predictivelabs.com/assurance-ab-covid19/
Noticed that this was posted on their new dedicated website.
They took it down.
Posted by pmahoney on 24th of Mar 2020 at 08:33 pm
They took it down.
They need to remove the
Posted by pmahoney on 24th of Mar 2020 at 09:20 pm
They need to remove the "in-home test" part of the wording
Does the COVID test even
Posted by pmahoney on 25th of Mar 2020 at 01:04 am
Does the COVID test even need FDA approval???
https://www.biomedomics.com/latest-fda-guidance-allows-distribution-of-sars-cov-2-serology-tests-for-diagnostic-use/
March 16, the FDA updated its “Policy for Diagnostic Tests for Coronavirus Disease-2019 during the Public Health Emergency” document. https://www.fda.gov/media/135659/download
As a result, BioMedomics will be able to distribute our COVID-19 IgM-IgG Antibody Rapid Test to any licensed healthcare practitioner in the United States for diagnostic use starting on March 17, 2020.
From BioMetrics quote request page (they can't keep up with demand)
NOTE: Due to high demand and the need to fulfill existing orders, BioMedomics is temporarily halting new orders for COVID-19 tests. Our company will continue to fill all existing orders, and explore new ways to source materials and expand capacity to meet the growing demand for our tests. We are committed to doing our part to battle COVID-19.
The winner will be the company with the best supply chain.
Approved by FDA yet?
Posted by pmahoney on 24th of Mar 2020 at 06:52 pm
Approved by FDA yet?
Not yet but was told
Posted by steve on 24th of Mar 2020 at 07:02 pm
Not yet but was told application submitted via fast track (BARDA exemption) . The FDA also announced a new ruling last week allowing for certain testing to occur immediately.
ES Resistance 2470-72
Posted by steve on 24th of Mar 2020 at 06:36 pm
ES Resistance 2470-72
ES pulling back from resistance
Posted by steve on 24th of Mar 2020 at 07:06 pm
ES pulling back from resistance below
ES 35 points off resistance
Posted by steve on 24th of Mar 2020 at 07:24 pm
ES 35 points off resistance thus far
Nice 50 points on ES
Posted by steve on 24th of Mar 2020 at 08:04 pm
Nice 50 points on ES off that resistance guys
May fill the gap tomorrow
Posted by ssaffer on 24th of Mar 2020 at 07:13 pm
May fill the gap tomorrow am before the next up move or if the stimulus bill is not passed - could see a deeper move down. Or a deal is done before the open and see how the market reacts to it (sell the news or buy the news), kind of like a Fed day.
The irony is that my
Posted by mdgfain on 24th of Mar 2020 at 06:05 pm
The irony is that my most profitable trade of the day was on TQQQ April 17 $81 calls that I had stubbornly held onto and added to over the past few weeks. They had dropped to 0.01 and I was able to catch a bounce to 0.28 today. I know that sounds crazy, since TQQQ closed at 43.56, but it worked. It worked for me because I felt strongly that it would bounce before 4/17 and refused to sell for less than 0.15. MATT and STEVE helped time my final sale. Sure, if I had held and it pops again tomorrow, I left plenty of money on the table, but as they say, pigs get slaughtered! Sometimes luck and persistence with a plan is better than skill!
LNC. up 31% today.
Posted by ssaffer on 24th of Mar 2020 at 05:47 pm
LNC. up 31% today. Was my big trade of the day. Bought in yesterday, as this great company was thrown out with the bath water. The liquidation value of this stock in around $30/share. Price dislocations create huge opportunities. Also was a good day to unload a couple of turds at break even.
BPSPX follow up
Posted by matt on 24th of Mar 2020 at 05:09 pm
$BPSPX - Chart Link that played out well, last night I said you had the big trend short trade, and the two whipsaw buy and sell signals and the next one would be decent, that triggered basically on the open so that played. Nice that it updates intra day vs after the close
You can see the times in the past when you had a trend move then two back to backwhipsaws - highlighted those in yellow.
so whenever I get two whips in a row, then I knew to take the next one
https://www.armstrongeconomics.com/international-news/germany/germany-to-suspend-democracy-for-one-year-as-state-of-emergency/
Posted by highroller on 24th of Mar 2020 at 05:01 pm
https://www.armstrongeconomics.com/international-news/germany/germany-to-suspend-democracy-for-one-year-as-state-of-emergency/
Was this one of those
Posted by mdgfain on 24th of Mar 2020 at 04:22 pm
Was this one of those “rip your face off” bear market rallies you sometimes refer to? I guess so, best day since 1933!
The question remains, “Will you still love me tomorrow?” It ended right on the last high. I’m equally hedged both ways, and will not be surprised if the market drifts back down to -3100 then rallies when Congress finally seals the deal. That is, unless this is a “ buy the rumor, sell the news” sort of deal.
Thanks again to you and Steve, I made over 5k today, and almost doubled my play money since this drop started!
No too often you see
Posted by steve on 24th of Mar 2020 at 04:29 pm
No too often you see ES up 200+ in a day. The rubber band was stretched and relief rally commenced as some of the virus data provided hope
Cities (like NYC) and States etc are still coveting huge numbers of test kits
CNBC discussing shortage on Tests
Posted by steve on 24th of Mar 2020 at 04:42 pm
CNBC discussing shortage on Tests currently
Definition of insanity: Making the
Posted by jroger on 24th of Mar 2020 at 04:09 pm
Definition of insanity: Making the same mistakes over and over and expecting different outcomes (in this case, the FED and the government).
Same definition of "Persistence" ;-)
Posted by bernatz on 24th of Mar 2020 at 04:14 pm
Same definition of "Persistence" ;-)
9 EMA on daily is first target
Posted by matt on 24th of Mar 2020 at 03:55 pm
$SPX - Chart Link - currently intra day charts are not working on Stockchats.com for me
and what are we paying
Posted by morton7 on 24th of Mar 2020 at 04:16 pm
and what are we paying them for??
Stockcharts gerbils worn out from
Posted by steve on 24th of Mar 2020 at 04:34 pm
Stockcharts gerbils worn out from all the action
looks like that Long SPY
Posted by retirefire on 24th of Mar 2020 at 03:49 pm
looks like that Long SPY sub system trade proved righteous.
SPX version. We will see!
Posted by mdgfain on 24th of Mar 2020 at 02:41 pm
SPX version. We will see!