Tech Trader's been gradually rotating back into Energy this week: $PBR, $EQT, $FTI, $SM Looks like it was a play into the oil report today, which caused the energy sector to flip from negative to positive this morning. Tech Trader overall (if you look at the chart from yesterday) is now mainly long Energy, Consumer, and Healthcare. Again, exposures are at year highs now with longs at 96% and shorts at 33%. https://www.techtrader.ai/wall/?date=1462946352&post=9403 $PBR and $EQT are old favorites of Tech Trader; been in and out of those since March. $FTI and $SM are new ones picked up from risk reversal activity in the options market.
These levels are good on all time frames. All math based on previous pivots and such...aka secret sauce
not liking this action today or yesterday....futures market in control again and making it difficult for me to daytrade. all the action is premarket or after market....I'll be patient
Another good day for AMZN, maybe people think bad news from Macy's and other retailers is good news for them
USO bounced like the world is coming to an end...lol good thing I didn't buy puts like I was leaning towards this morning Oil rises 3 percent after first US crude draw in six weeks http://www.cnbc.com/2016/05/10/oil-dips-on-record-us-inventories-canada-output-to-improve-soon.html
It has been looking pretty bad since short seller Chanos spoke about it on CNBC. I was thinking Tim Papa's interview with Cramer could potentially help but he wasted the opportunity. I think it will keep going down until it tests around 25.25 which is its 52 week intraday low. I wouldn't touch it until then.
Yesterday had steady rise in SPY, and was attributed to rise in oil as many are saying the markets trade in lockstep with oil. But SPX did not push through that 2080 resistance today, in spite of oil running wild again, today +4%. So was it really oil that led the markets higher? Or was it mechanical, technical trading? @inthemoneystocks showed this in his thread here (http://stockaholics.net/threads/int...ing-market-moving-action.264/page-4#post-6064), that SPY was just back-filling a gap. Also there was little volume yesterday. So is this the play? Oil will run up to the OPEC meeting in 1-2 weeks while SPX stays in a range. Then if oil declines from the meeting, it will take SPX with it?
GDX 26x calls more than doubled on that bounce this morning.... .06 to .14 I may have to start watching this one again thanks for bringing it up again @Ken34
