In case you are wondering, Nico, my troll, did not like I gave coins to one of the kids from China who was crying Bitcoin was bullish at 35k and I said nope and gave him coins and said here is for some food since you are about to be broke. I also gave the guy who cant spell some coins for his bankruptcy lawyer because he was way bullish and in all calls as the market really was about to tank. I laugh. Clearly Nico likes these two because he said you need to sit out for 30 days.
Anyway, with that said.. I do not wish to participate around here much. Just wanted to let you know why I havent posted. I hope you followed my last chart on SPY. I am thinking we see some more upside coming but we will be getting hammered down after the bulls get a little more excited. Round 2 will be on its way. Maybe I will throw a more detailed post up early next week. Honestly, not interested in the market at this point to much.. it's summer and the market is truly not my thing. I find it depressing, annoying and like being in a bad relationship. Its like having a drug addict bi-polar wife or something. Business and life require enough time and energy, I am way to laid back and dedicated to everything else to have this eat up energy and time. My plan to learn charts was to know when to invest and when to be out. Never to trade. I find this bubble hard to refuse though. But for now, I did cover a good majority of my shorts but theres still alot open and I did just open Apple short (shares). I may get a little red on it but not to worried. There is plenty of downside to be coming.
Anyway hope all has been well. Maybe next week I will throw up something on a few stocks. I do think pullbacks are a buy for now though, short term bullish.
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Thanks guys ... you're some of the funniest, coolest people!! Ill sit down over the weekend at some point and throw up a little better game plan. Don't be like me and just short Apple on the fly though, I think we have some more upside to come before we take the next elevator ride down.
I hope none of you are watching TLT to lead the market or at VWAP and moving averages. If so, I will have to beat you!
As usual the noisey B.S. narrative of lowering the the bar on forward earnings as a positive, along with more fed tool box nonsense, and do whatever it takes wishfull thinking house of cards rabbit hole talk will rope in the majority of retail lemmings as they march ever so closely to the cliff.
I have 380 & 370 puts for 7/15 & 7/22. I am hoping for double top at 390 into retest of the low before we get bullish. I am somewhat torn honestly since bulls have been really stubborn in painting this chart. Good to see your perspective.
DansGoneFishing
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@MikeSpy, I have very similar puts. I also saw the double top on Friday and bought the $384 strike July 12 puts in hopes the SPY would fall before working it's way up to the upper 390s-$400 area. Luckily, I only purchased one contract so if we go up... I won't be out too much. Let's see what happens. I think we might have a small window to make a little bit of money or at least get out breaking even.
Original_Stock_Whisperer
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@DansGoneFishing, @MikeSpy Just keep an eye on the overall setups before you panic though.... The 12th might be a little rough but if we do snap and these flags and rising wedges on the one hour do snap, I think we could see below 384 but otherwise if we just have a run to kick things off, be a little patient.
Peterson
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" There is plenty of downside to be coming." There is no doubt about that, and the scummy sociopathic power brokers are licking their chops.
ehaag100
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Very excited to see you back on here even if you only post every now and then. Love your sarcastic analysis.
eminalopalop
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According to your chart, SPX is going down all the way to 2400, it is about 50% ( the 2018 low). How long will it take it? It has been nice to hear from you.