SPX managed to push up above the yellow fork resistance yesterday. The sideways consolidation zone should be nearing completion in time with a more convincing surge in price higher next week.
I sold my xiv for a small profit. Worried about the weekend. May try uvxy into close and dump and re-buy xiv next week if it plays out. Good call so far SC
Not sure if you still visit this blog. Wondering your input if you still stick by +/- 13th day is the high and we go down. Or you agree with SC that the high may have delay till next week?
No. I actually decided to hold it against all conventional wisdom despite the market roaring higher. For some reason, I am hopeful of a gap up on HVU Monday Morning for me to sell into.
Bought HVU at $4.47. Even still, if the gap up doesn't materialize, I will then sell and buy back on Wednesday.
Oil looking a bit bearish as well. Hard to believe with how much it has dropped, market flying, and dollar dropping, but it sure doesn't want to go higher. Looks like a sick puppy for now. Perhaps it has a big 3% up day ahead of it, but looks more like it needs capitulation to me.
WOW!! another great day tradin'...I just wish I had access during my work hours...have to make my trades early in the am(4:00) so I have to leave some $$ behind but oh well a win is a win. set the trigger for july$7calls BAC .85 and sold 1.05 a few hours later. a target range I have right now(big) is $820 to $8.40. I;m leaning to the low end cause I just don't know yet when 1370's get here how fast it runs. THANKS again for such a nice place to discuss and share and leave the bickering and feuding to the other places...I'm out
after the Central banks fireworks, and US Independent Day firework buy the rumors, sell the news - on central banks actions. Global rates cut. ECB cuts rates to record low, China rates cut, Bank of England QE... Denmark sets a negative rate for first time. i think this could be an indication of central banks monetary policy cliff with stagnant economy that takes toll on the global stock market.
I see gold dipping from here for at least a couple of days unless the close is strong.
ReplyDeleteHi SC: Do you think this small rally will hold today? Whats your thoughts for today? thx
ReplyDeleteI sold my xiv for a small profit. Worried about the weekend. May try uvxy into close and dump and re-buy xiv next week if it plays out. Good call so far SC
ReplyDeleteI think may see a dip from the 1340's before pushing higher next week. Still plenty of upside imo.
ReplyDeleteHi ZigZag
ReplyDeleteNot sure if you still visit this blog. Wondering your input if you still stick by +/- 13th day is the high and we go down. Or you agree with SC that the high may have delay till next week?
Thanks!
Hi SC: Do you think we have hit the high of 1338 for the day or do you think there is still room to move to 1340 today? thx
ReplyDeleteHi SC: Do you think the market will pull back at close? thx
ReplyDeletejust not happening....looking bullish next week.
ReplyDeleteSS76,
ReplyDeleteyou sold your HVU?
No. I actually decided to hold it against all conventional wisdom despite the market roaring higher. For some reason, I am hopeful of a gap up on HVU Monday Morning for me to sell into.
DeleteBought HVU at $4.47. Even still, if the gap up doesn't materialize, I will then sell and buy back on Wednesday.
This comment has been removed by the author.
DeleteNice move up for the market! Interesting that gold could not follow...
ReplyDeleteOil looking a bit bearish as well. Hard to believe with how much it has dropped, market flying, and dollar dropping, but it sure doesn't want to go higher. Looks like a sick puppy for now. Perhaps it has a big 3% up day ahead of it, but looks more like it needs capitulation to me.
ReplyDeleteWOW!! another great day tradin'...I just wish I had access during my work hours...have to make my trades early in the am(4:00) so I have to leave some $$ behind but oh well a win is a win. set the trigger for july$7calls BAC .85 and sold 1.05 a few hours later. a target range I have right now(big) is $820 to $8.40. I;m leaning to the low end cause I just don't know yet when 1370's get here how fast it runs. THANKS again for such a nice place to discuss and share and leave the bickering and feuding to the other places...I'm out
ReplyDeleteafter the Central banks fireworks, and US Independent Day firework
ReplyDeletebuy the rumors, sell the news - on central banks actions.
Global rates cut.
ECB cuts rates to record low, China rates cut, Bank of England QE...
Denmark sets a negative rate for first time.
i think this could be an indication of central banks monetary policy cliff with stagnant economy that takes toll on the global stock market.
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