Options were closed when stops were hit.
Stock is kept as better entry. More resistant to market whipsaw (no time issue like options).
Banana/Shoe pattern is repeating.
We are at the end of current pattern. Expecting gap fills up to possibly $17+
Cross (at $13.70) and 10WeekMA cross ($14.60). Over both we are confirmed . I would be watching exits as this moves quick.
shown is from similar pattern where Daily candle had topping tail wick, followed by larger green Daily candle on next day.
This indicates the turn to me.
I would continue to add in this position under $12.90 if we get into end of pattern. Otherwise I am waiting with current position.
Stop loss at $12.70 – although I will probably hold past this. SPXS will pop and cover up-gaps.
Side-note - GDX and Gold are both turning which (to me) is a secondary confirmation of incoming market correction/pullback.
News: - I haven't watched either but RealVision is excellent with sources.
1/1/2020 - John Interview (Debunking False Assumptions) https://www.youtube.com/watch?v=i5zhwFpN...
1/2/2020 - RealVision Finance "WTF is going on in the economy" https://www.youtube.com/watch?v=bWkyP9n0...
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com and have updated my name previously jbird7839. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC . Short term GDX , SPXS
I have alerts really, not actual stops. I feel that "tells" my order.
You are way too experienced for me to "preach " :)
However in the occasion of a real event, especially in SPXS,
you may not get a chance to get filled anywhere near your limit price by placing an alert.
Stop placement is an art, but for me they must be entered SQL/ GTC
Thank you bro. You are not preachy either. Maybe when people say something, back with sources, and then are polite...I listen.
SPXS - I think we are compressing the spring down here.
Also, its funny how the market can be driven by debt and tweets...then deflated with drone strikes. Market is a puppet.
I place my orders daily. But anytime I use GTC and I need to change, the order gets stuck.
Especially if I am trying to change the order premarket.
In a few weeks we will be grinning like a Cheshire cat.
The shakeout before the breakout. :)
Holding strong and happy as we wait for gap up.
We are in a good spot with cost basis. Anything dropping 25 cents or more and I will just add another 100 shares.