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Thursday, January 20, 2022

GUSH - Next targets!

GUSH was rejected at horizontal resistance and the price plunged today. The next targets are shown. GUSH is tightening in this chart pattern! Daily

35 comments:

  1. Trendline support and 50 weekly confluence at $85 GUSH.

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  2. Volatility actually narrowing in this chart, but it is part of a larger broadening pattern, which is leading to explosive...

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  3. Are you still holding on to ocgn and amc ?

    Thanks

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    1. Yes but remember we've been waiting for OCGN to come down and looking to build a position in OCGN later.

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    2. AMC - they said they was diamond

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    3. The market is testing AMC shareholders. So I think the only issue here is that it may base over a longer period to absorb any sellers. We'll see.

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  4. amc---closer to 16 is a buy fills the gap---but the market needs to bottom!

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  5. Sc can u pl give road map for spy or uvxy

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    Replies
    1. Yes will do. Yes I have a plan for UVXY. The first UVXY setup for the year is coming.

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    2. SC - Are we expecting new highs for SPX or a retest of the highs?

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    3. Yes SPX will put in a bounce soon. Then drop again.

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  6. sc,

    There should be a counter trend rally next week starting on Monday---to Thursday or Friday---depending upon where we bottom--sometime in early February---we can get below--SPX 4200 maybe lower--Tech stocks will take most of the beaten---volatility will be begin and even SC knows this--It matters what the fed says next week!

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  7. On this expiry $1.3 trillion of options is expiring in stock. This is the second highest in history.

    See I told you when I had looked all I saw was an ocean of Calls.

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  8. A bounce is coming but we can still see a little lower first. 4,300 would be fitting. This is the prior low of October. Also SPX was above the 50 day average by about 150 points. Now at the 200 day. So it would make sense that SPX undercuts the 200 day by the same amount.

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    1. VIX closed outside it's bollinger band 4 days in a row, SPX ripe for a bounce. SC what do you think - SPX bounce early next week for a couple days then down into 4300?

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    2. Hard to say exactly but that does make sense

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  9. sc,

    according to the experts there is a wall at SPX 4600 for the short term

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  10. In December I had suggested 10% drop for SPX.

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  11. Replies
    1. KODK is oversold on daily and weekly to the extent that a bounce over the 200 day at $4.92 is to be expected. Bounce into the $5's.

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  12. GUSH coming down nicely for the next swing.

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  13. AMC in the green. You know it hasn't traded badly. In December AMC was $20, and only a couple lower now with SPX down 400 off the high.

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  14. Oil is super easy to make money though. That's our bread and butter. Every swing hits. Energy was the top performing sector in entire market 2021!

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  15. Oil is preparing for Big swings. I am getting ready to clean house in Oil... Oil volatility will be outrageous this year!!!

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  16. The fact is this is stupidly profitable to trade with Biden actively selling out of the country's oil reserves.

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  17. My December 18th call for 10% SPX drop occurred. Last year SPX was up 21%. Inflation came in at 7% for 2021. 21% less 10% and 7% gives a real inflation adjusted return of only 4%.

    SCDecember 18, 2021 at 11:17 AM

    "SPX is probably getting closer to a 10% drop.

    When we consider the math in more depth this looks more serious. Before we did not have to include inflation. It was negligible. Now we have considerable inflation.

    Let's assume inflation is also 10%. A 10% drop in SPX becomes a 20% drop in real terms inflation adjusted."

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  18. What's the target for spx bottom ?

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