Possible 50% pullback leading up to the electionElection years in which the outgoing president is finishing up his 2nd term has had a pretty substantial effect in
the months leading up to the election. In 1987 the market tanked before Reagan left office in 1988 , 2008 when Bush II was leaving office , and it looks like it can happen again when Obama rides off into the sunset.
I believe uncertainty drives the bearish movement .Ultimately the markets all recovered once we knew in which lobbyists will be rewarded..
LIFE
IF NKE continues running down hill- I'll own $50 shares i have been taught only sell puts on stock you want to own at the price you are selling those puts! Nike is one of those companies. Nike isn't going anywhere, continues to sell more shoes, and brand their swoosh worldwide
so pick an are where you think you would like to own shares. I like getting paid up front and lower my cost basis even more if and when i get put to stock!!
Bitcoin- Rising Wedge & Resistance - Consumer Confidence ReportsThere are several financial reports coming out on 5/31 (Consumer Confidence and spending reports) - Bitcoin has been on quite a tear of late. I have no idea how those reports will effect any of the market much less Bitcoin. As far as technical analysis is concerned a rising wedge has formed and it has traded to resistance, so conventional wisdom says 80% of rising wedges breaks bearish... so I will keep an eye out and see what happens (no trade for me)...
Even if Bitcoin doesn't break the wedge there is a chance of retest of the short term resistance broken on Friday!
I would love feedback from bitcoin traders!!!
AAPL Trading Plan that worked -Trading Plan for next trade AAPL has made a nice move and currently is battling with the 50 and 100- So I exited 1/2 my 7/15/16 Calls with anticipation of either AAPL moving sideways or pulling back. I am not an Elliot Wave expert , but I am using it as a tool to plan the potential pullback. If AAPL follow my plan then great I may enter into more calls with a tight stop. If things change I will move my stop up on my current trade and attempt to break even or squeak out a small profit
Square looks like its hit the bottom of the box- Buy low sell hiThis is a great buy / low sell high. 5-24 nice new white soldier candle stick (similar to one white soldier) , along with a nice bullish candle and volume. If you aren't in the trade you may have to wait for a little pull back- in order to get a decent R to R(Risk- Reward). I used an aggressive stop 9.21 and entry 10.05. May slow down for a bit at the 20 EMA I'm anticipating SQ trading Target 1- $11.79. 2:1 Risk reward. Sell some shares at 2 to 1 look for pullback and move stop up to at or near break even it to 12.87.
A quick Fibb supports a Target 2 12,90 at the .382 -
Should I get stopped out another bounce off the support could offer a great opportunity as well!
Natural Gas monthly - Aug 18Axis line became support. 2.55 - is a very strong support-since records began. It truly looks like the bottom.
Let the red line break 2.976 and then let it be tested to see if it became the support or not n then go long.
It could really be a long of lifetime. However, if we break 2.55 then it's just a lost cause n short with both hands.
Make sure a clean break is done though.
Stop loss could be around 2.50- I don't suggest stop loss cause everyone has different loss taking capacity but in this
case it will be a lost cause to might as well get out.