drank the grape koolaid in the first 30 minutes. SPX up 23 points in first 30 min. Flat the last hour. Big boys didn't get excited about taking them home. Neither am I. May not be time to short but IMO not time to open new long positions other than extreme capitulation stocks and maybe not then depending on indicators. Problem I see with many setups is that there is not enough profit potential (3:1 or better) to justify going long OR short.
$naa50r indicates risk rising...again AND divergences showing in the hourly makes me believe reversals are quite possible.
RSI 7 day below 10. Several days of extreme selling. Max pain opts 4 bucks for Oct. Mark Hulbert nailed Michael Murphy this AM over an options play in this issue. Normally wouldn't mess with a stock under $5 but it looks interesting. ARNA:IEF shows RSI 7 day under 10, risk looks manageable. Long @ 1.83. Sell limit 2.90 middle of gap.
hitting 70 RSI. Early July it gave a signal to get long. Caution is in order esp with respect to any long positions taken on now IMO. And risk is increasing.
comments remind me of Jim Baker's about the Germans in '87.
We know how that turned out.
And a Fed chair using his bully pulpit. Wow!
40 stocks in sell alert
19 in distribution mode
1 in buy
drank the grape koolaid in the first 30 minutes. SPX up 23 points in first 30 min. Flat the last hour. Big boys didn't get excited about taking them home. Neither am I. May not be time to short but IMO not time to open new long positions other than extreme capitulation stocks and maybe not then depending on indicators. Problem I see with many setups is that there is not enough profit potential (3:1 or better) to justify going long OR short.
$naa50r indicates risk rising...again AND divergences showing in the hourly makes me believe reversals are quite possible.
Based on Elder's trading thoughts, one would put a short on around 48.50 with a buy to cover just above 49.10.
No position, long or short.
nice setup that I missed using DJIA. buy BGZ when/if DJIA trades @ 10802.96 or higher, buy BGZ @ market
long 8/31 @ 43.43
out 9/22 @ 48.59. (Divergences showing up on hrly/15 min charts)
thanks.
checked the premarket. Long @ 26.09
ADBE kangaroo tail reversal on July 1st. Opened at 26.52, hit low of 26.01, and closed at 26.66. buy limit 26.25 GTC
Hrly divergence at the open this AM by the way.
No position, long or short.
on DJIA.
RSI 7 day below 10. Several days of extreme selling. Max pain opts 4 bucks for Oct. Mark Hulbert nailed Michael Murphy this AM over an options play in this issue. Normally wouldn't mess with a stock under $5 but it looks interesting. ARNA:IEF shows RSI 7 day under 10, risk looks manageable. Long @ 1.83. Sell limit 2.90 middle of gap.
Do your own homework.
SLW, EGO, GSS & NEM in distribution mode.
SLV in distribution
,
Putting in an order to open a position tomorrow.
ZSL Sept/Oct max pain is 27
10 day ATR is .96
RSI 7 day is 12.62. Getting close to a capitulation trade (sub 10).
Close was 24.85. Close minus 10 day ATR is 23.89. Roughly 3:1 reward:risk.
Can't be around all day or I'd be watching the hourly MACD for a divergence to open the position.
See what happens.
FD:long DZZ. DZZ in Triple RSI accumulation mode.
$vix isn't traded. VXX is.
SPY:VXX shows a 7 day RSI of 81.91. About 90 should do nicely.
SPY:IEF shows a 7 day RSI of 69.83.
$naa50r shows a 7 day RSI of 70.28.
Like I said, I see no reason to get bullish now and risk is increasing. Early July was the time to get long.
GL
long 8/12 @ 21.08
closed today 9/15 @ 21.81.
'nother special situation.
hitting 70 RSI. Early July it gave a signal to get long. Caution is in order esp with respect to any long positions taken on now IMO. And risk is increasing.
$spx:vxx
$spx:ief
open 8/17 5.14
closed today 5.64, 9% gain
one of those special situations. ;)
7 in distribution zone,
7 in sell alert.
Zip in accumulation zone or buy alert.
Except for special situations, I'd be raising cash and looking for shorting opporunities which I am.
SPY max pain showing 105, now 112. SPXU max pain 32, now 28.81. Buy stop 28.99/29.00 limit. Do your own homework.
well, I like to have the max pain opts expiration number at my back. To be honest, not much that is posted on this board has been backtested anyway.
GL
I like to run $nya against $cpc