Double Bottom: Time to Buy?
Updated
Gonna find out real soon. So Oversold, due for a bounce. So far this week every rally met with more selling pressure.
Something gotta give soon... where will it hold? No positions, tried calls several times, all fizzled, and then the EOD dump.
Looks like an ABC correction, so far... if this is an impulsive 3rd wave it's gonna get really really rough soon, bottomless. Be carefull!!
Something gotta give soon... where will it hold? No positions, tried calls several times, all fizzled, and then the EOD dump.
Looks like an ABC correction, so far... if this is an impulsive 3rd wave it's gonna get really really rough soon, bottomless. Be carefull!!
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IMO you can see a 5-wave decline From Mon-Thurs EOD. See what Friday brings... looking for a hammer spike down near 4260 give or take and bounce. Who knows?!Note
Futures turned overnight, could be a fakeout, been selling every rally, down ~5%, might be a pause before correction continues... >50% NYSE stocks in bear market atm...!?Trade active
Flipped some calls and rolled into puts. So volatile so hard to know where to enter and what to take, just in cash atmNote
Flipping and scalping. Small positions. No plunging!Trade active
Did pretty well buying calls when NQ was -130, That was a puckertest as you never know if the damned thing will go off 200 or 440 again, lol.Closed all out again this makes a bear flag and could just roll over again IMO
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Looks like it might sell again closing out all longs...sidelinedNote
Yeah here comes the PM sell, look out...Note
wow! breaking up, expect a retest of the breakout, not chasing, not shorting; waitingNote
Drifting back, not chasing it, no position over weekend, expect backtest before higher IMONote
Most likely gonna turn out to be a bull trap. I have a hunch that -4% is not over. Just strong feeling that we got to grind down and get some panic selling to finish the bear move. Lotta folks talking about 4230 price zone. Probly a good bet and it won't take long to arrive IMO.After VIX crush Friday UVXY looks like a way to play if we get panic it will pop hard. GLTA!
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Looks IMO like a 2nd wave pullback. Would not take shorts, if this is retest of TL will quickly move higher!Note
Yeah it's an impulsive down move. Is this the 5th wave extension> 4280 seems to hold...?!Trade active
Flipped puts and took on some calls, looks like it might pivot soon imoNote
Again flipping calls. Caught the bounce from LOTD, IDK it could sell again IMO, just in cash now.Note
I expected more selling today (Weds 10/06) but prices holding at support fairly well. Sometime in Oct this beast will pivot and turn. Is it here? Tempting to go long but patience safer. See if it gets bullish soon...Note
Yeah Mitch saved the markets, dangit!Note
I am VERY SUSPICIOUS of this expanding megaphone triple top past week, the W looks like a setup for deeper dig down, look:
See holey's Bear Market guide chart in his related idea links !
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The persistent weakness in RTY belies the real direction, this is still a Bear Trend, all these Rallies are just fakeouts, bull traps...Note
Gap n Go IMO. huge miss. Initiation gap?!Note
Scalping calls and puts all morning in narrow range. Wild swings minute-to-minute but little real movement, trendless Friday. There is a big gap to fill below, probly gonna fill next week. better to stay in cash imo, all risk, little reward atm.Taking my beer money and buy a six-pack, take the afternoon off!
Trade active
Could not resist took puts on the flash sale NQ and rolled into calls at -60, now there's enough to throw a kegger!Note
Buying ten QQQ daily 362.5 calls @ 0.39c with 75" left to trade; powerhour play. Risk limit: $400.Note
Added 5 contracts for .34c, now into this play for $575 w/costsNote
Took 5 more at .29c. 20 is already too many, DCA to .35c, see if it pops... feels bearish IMO, probably not a good day to play this but let's see...Note
Yeah that didnt work went out for a quarter, lost a dime, ah well...Trade active
LOL rolled back into the 362 calls fifteen for .41 , flipped for .52c, there will be beer after all!Note
See related idea. Gonna bounce Tues IMO, futurz trade at perfect inverted right shoulder:S&P F 4,346.75 -4.25 -0.10%
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