BOY has it been a profitable week.
Talk about head on a swivel.
The nonfarm payroll was such a great pump that fizzled out FAST... Check out APPL. As goes APPL, as goes the market... At least I heard that once.
Well, our dear APPL was measly yesterday on the BIG RAMP which told me the powers at be were letting that BUY button wait until today.. tehehe. The...
Never forget.. Donald Trump from New York is the DEALER of this party.
I hope you didn't get faked out on that day of consolidation and loaded the boat with a GIFT form the gods of retouching 301 - 303.
Beautiful hand played by the dealer.
Wulcya at the line in the sand, I could see us busting it up tomorrow!
What a ride!
My theory is that SPY wanted to click into "oversold" before we come back and break the line in the sand we've been playing with for the last several days.
Keep your mind, right.
Tune out the "noise."
Trade YOUR strategy.
PUT it in your pocket $$$
Never let it fade away.
In reality, this has been a LOT of choppy rebalancing of hedge funds and pensions and 401K.
Scrap gains at quarter-end. Once.. pump.pump.pump. Twice.
Look both ways before crossing the street.
Wait for the final settlement and then.
Just as the VIX touches home base, the next scene began this afternoon with a crescendo.
I believe today we made a bear island on the NQ.
The ES was clear last week but the NQ has been the real leader of this rally and I continue to believe will lead us on the next leg down.
Hold onto your butts if this thing falls apart...
In short, I am no longer short.
The recent additional QE measures and absurd position of the Fed to continue to expand it's balance sheet with no regard of the consequences tell me a few things. A. The fed and talking heads know that they have pretty much convinced THE HERD that blowing a bubble inside of a bubble is not only logical, it's our saving grace. B....
The 14% pullback projection seen in the above is derived from the ratio of change seen in 2018.
This thesis is based on the following: If 2018 was the beginning of a megaphone type corrective move, then the % change will be of greater magnitude; however, the ratio's expressed as % change should be statistically similar.
During the corrective moves in 2018, we...
Time for the Q's to get beaten like a rug. Stay hungry bears, we JU$T started this..
"Growth" stocks by their nature are NOT defensive stocks. A roll out of tech stocks into industrials has begun. EG that crazy Boeing move, well that and the funny money... Look for THe Nasdaq to lead the next leg down as they are EXTREMELY debt ridden..
Corporate Debt.. that...
Poor apple got abused this week. Dumped hard and then pumped right but up to be a nice fat piggy.. Sadly much more pain is instore for our beloved overpriced appliance provider.
On the next leg down, the Nasdaq will lead. This means that all your tech or "growth" stocks that have been born, raised in the daysofdebt are about to meet the L0rd. Apple wasn't raised...
*No position currently, however looking to add one. Currently short several Nasdaq stocks. This is one I have my sights on*
On the next leg down, the Nasdaq will lead. This means that all your tech or "growth" stocks that have been born, raised in the daysofdebt are about to meet the L0rd.
Beautiful reverse H&S pattern with the nail marking the bottom of "this" move and the rip starting us off our new lows.
This market has amazed me with how well even when the hive mind is in true form, the fundamentals of LT trend lines and Fibonacci level ring true.
Buckle up this ride up will be just as wild.
Act 2 .. up next.
That EOD pump was unreal. Still, not buying it as it was on lots of words words words.. After hours showing a bounce off the highs which just so happen to be at a fib level. Stay steady bears. '08/'09 crash had a similar pause at these levels. Then finally settled one level down.
Big topping pattern set up - more room to the downside. Note the Gann channels this down move is in.
Defined Risk Call Spread
S 285 Calls
B 295 Calls
Target profit 40 - 50 % of credit received