norok

norok Wizard

SKX today had unusual Call Volume. Some traders are betting on this going up. The long term action on Monthly and Weekly is showing this stock to be bearish. The move today brought the stock up to Daily resistance. I'm looking to test this resistance with short term JUL 16 29 Puts, holding them for just a few days, to see if this is the top of the move up. ...

norok Wizard

The US Stock Market (using the E-Mini Futures as a guage) are hitting key resistance this morning following the post-Brexit fall and rebound. If price holds here the downward movement will continue. If we break the resistance the market will go higher into the summer through July. I am looking at hedged market plays with IWM and QQQ Options.

norok Wizard

CVX reached a major Monthly Resistance in the past week and today saw major volume in sold shares and bought Puts which drew my attention. CVX Option volatility is still above average so the best play would be buying Vertical Put Spreads. Buying the September 16 95/92.5 Spread for $0.58 yields a greater than 3:1 Reward/Risk if it reaches max profit. I'm aiming...

norok Wizard

Bitcoin held 672 Daily Resistance and may now consolidate over the next two weeks between the Resistance and the Weekly Support level. While price action is still bullish for the long term it has failed a fast retest of the high indicating that the bullish trend we've seen since March is now over and a major pullback is underway. While Hodlers may still be...

norok Wizard

This week we open the VIX in a new Weekly range not seen since the first months of the year. The 32.08 Resistance will be the next timing for the bottom of the S&P while the 22.29 Support will time the next highs. The VIX has an inverse coorelation with the market; when the market as a whole goes up, the VIX goes down and vice versa. Finding major Weekly...

norok Wizard

During this recent phase of volatility in the Bitcoin market I've begun experimenting with the futures at OKCoin. While I'm told most true Mooninites and Hodlers use full 20x leverage I've found no reason to go beyond 10x. It is still an attractive prospect to those that want to put entire accounts on the line to win the lottery (tomorrow). I wanted to see what...

norok Wizard Updated 

Citigroup is at a Multiple Timeframe Resistance 3 weeks prior to earnings. Volatility is low with the VIX down and earnings far enough away to buy Single October 40 Puts. Looking to get ITM by September.

norok Wizard

Bitcoin has hit it's first resistance on the Daily at 672 following a bounce off the 571 Weekly support level. Now the Daily timeframe is going to control price. This weekend is going to be critical for price to break the resistance. If it has not conquered it by Monday the Daily will begin to turn bearish and we could retest the 571 level and potentially make...

norok Wizard

I am sick and tired of reading armchair fundamentalist quipping in a tone they think is so wise that "Bitcoin UP on Brexit! {insert witty remark}" If making and reading commentary is your hobby then by all means continue but talk is cheap; it's not going to make you any money. Let's assume for a minute that you do somehow have a crystal ball for a fundamental...

norok Wizard

With both Bitcoin and Litecoin hitting major Weekly resistances they have pulled back hard. The next support on LTCUSD itself is 3.23. If price recovers it will have to conquer $5 to go any higher. The positive correlation between Bitcoin and Litecoin remains strong. In this bearish move Litecoin moved down 40% off the high while Bitcoin moved 30% off the high...

norok Wizard

Price has come off the high all the way down to the support. I must admit I thought it would take more than 1 Weekly bar but with such a volatile market price has reached support now. I can finally say at this point I am "comfortable" with people buying. I myself will be watching the lower timeframes for bullish trade setups to hold this level.

norok Wizard

Following the Long trade off Support at 10.92 and the close at the target of 15.79 Ethereum is now range bound. We could see tests of the Support and Resistance here over the next few days. There are no timing elements on the Daily for a few days. Despite all of this bad news and strong retracements the trend on the Weekly remains bullish. The hold of support...

norok Wizard Updated 

Since 2012 when altcoins came on the scene I have always been very bearish. One of my catch phrases related to Litecoin is that my long term target has been, is, and will always be $0.00. Ethereum has been talked up to me by other traders and I've kept an eye on it for a few months now. I've rendered one-on-one advice here and there what the charts tell me and...

norok Wizard

The next supports are 611 and 571 following up on the top call of 780 earlier in the week. These are WEAK supports though. Volatility could kick in to break them.

norok Wizard

Following the mid-March timing for breaking the consolidation BTCUSD has now reached it's top for now... unless some crazy shenanigans are going on.

norok Wizard

As of writing and according to www.bitcoinblockhalf.com there are 54 days until Bitcoin rewards are cut in half for the second time in it's storied history. Many speculate that a reduction in supply entering the market must logically lead to The Moon! the day after. A better approach to the analysis would be to assess the true tenor of the supply conditions...

norok Wizard

This week represents the end of a timing element that has held Bitcoin within a several month long consolidation following the big pop in November. Despite the bearish influences of the Weekly timeframe Bitcoin has held it's ground in this long duration consolidation. Now that influence is about to be removed at a time and price where the weekly Chikou momentum...

norok Wizard

Bitcoin continues to consolidate bearishly on the Daily despite the pop today. Now price is setting up to find resistance at the Daily at 408.75 which is close to the Weekly Resistance. The timing for this hit should be on or around the middle of February. Ultimately the story remains the same on the Weekly with timing setting up to take price slowly bearish...