The difficulty is that the price is still in a broad range. So, it's possible for the price to collapse to the 2700 level again. At that point, it might be worth re-entering long more aggressively. But in this environment, profit taking and risk management are more important than "greed"
Yea, difficult. The price should be heading up more vigorously than this. It's at 2735 right now. So, profit taking makes sense
whelp, only a couple hours left in the trading day, week, month, quarter and first half. going to be heading out soon and won't be back until tomorrow morning. i just wanted to quickly take this opportunity to thank all of you guys who contributed to this thread this week. great commentary from everyone! next week will be a short trading week with tuesday markets closing early (1pm eastern) and wednesday closed all day for the 4th of july. i won't be present at all next week (starting from monday afternoon) up through saturday. will be out on a little mini-vaca with the fam. is anyone not going to be around next week as well? for those of you who won't be, i want to wish you a very happy and safe 4th of july holiday! have fun and enjoy! note: since i will not be around this evening, i will setup next week's market discussion thread tomorrow morning. have a great weekend everyone!
As I've mentioned before, the price action prediction is highly relative. At any rate, as basically a swing trader, if the SPX collapses to non above 2700, it's a nice buying opportunity. I exited all but 25% of my long entries. I entered the 25% at around 2710. I have no need to exit those at this point. But, if the price collapses to non above 2700 I definitely plan to enter more as a long.
For a brief period of time, the SPX was resuming that 10 handle intra-day price swing. That's not interesting at all. So, this post-Obama Trumpesque volatility is more interesting and challenging as a stock trader.
The SPX collapsed to 2730. I'd like a re-test of the 2700 level soon. I want to re-enter long at around 2680 to 2700 again
Have a happy holiday next week everyone My guess is that I won’t be trading much at all until next Thursday unless we see some big volatility next Monday July will be here soon and it means the earnings season will start soon as well. Let’s see if it will be another stellar quarter for Corporate America
Tough to find indexes and even stocks above the 10ma. There's MEET, but that one seems to have overheated on its runup to the gap. APRN looks good.
I don’t hear people talking much about bitcoin anymore The hype was unbelievable at the beginning of the year
ah, hard to keep up on the algorithm. Closed my short ~ 36.74 @ 3:30 and opened a long position @ 36.74 - sell to the bell baby! Pretty boring day volatility wise. big drop at the open and then a slow grind higher.
Fast Money went out of their way to say they're going to stop talking about bitcoin. Seems like it has been tamed, 20% daily moves were the norm last year. It may be going down now, but the range has been muted.
