boom! happy 1000 "likes" sj-e where is that round # guy from the old site when you need him most? nowwhat!!! lol
very interesting little reversal here midday ... looks like @Baggi's thinking of a spike high in /ES futures to new ATHs in the RTH then a quick pullback may have just happened..? i'd be reaaaally curious to see how this day closes out ... man if this closes down at or near the LOD ... hmm ......... edit: albeit there is only 4 ticks of excess on the highs ... not really a blow off top there
Trump warns North Korea will be met with "fire & fury" like world has never seen if threats continue https://mobile.twitter.com/CNBC/status/895003812758528000
North Korea seriously considering strike on Guam, state media outlet says https://www.cnbc.com/2017/08/08/nor...trike-on-guam-reports-citing-state-media.html We got another North Korean news So far no massive move for the market, futures down a little but no massive move. We will see tomorrow morning.
Wow. I really called it didn't I? I have to boast a little here only because I'm almost never right. So when I am, gotta say something, right? This is what I've been thinking for a little while now. I took this picture on June 18 according to when I click on the properties of the photo. You can't see it in the picture, but that is a 23.6% Fib line at the top which is at 2487 something. Today when we hit 2487 I went more short than I already was. Brilliant right? Well, not so fast. When we hung around 2482 for awhile, I thought we'd pop back up to around 2485 and then move down, so I bought back some of my short position and never saw a chance to get more short. Ugh!! What a dummy I was. Not as brilliant as I seem, I suppose. Anyway, everyone is blaming this current pullback on the North Korea stuff. But while I think it accelerated some things, I don't think that's what caused the pullback. There was excess at the top (Not a lot, but some) and, as bigbear pointed out, I called this move earlier this week and I wasn't thinking of North Korea. Every market goes up and down. I'll be very sad if there is no follow through this time (Like there hasn't been every other time). But I'm going to go out on a limb and say this time, it's different. I know, I'm stupid. I just jinxed it. But seriously, I'm hoping we get around the 2420 area to start. Then if we get through that then maybe as far down at 2275ish. Then, no worries, bulls. We'll be back to new all time highs before Christmas.
Oh, forgot to mention. I had a really fortunate earnings play today too. I saw the market turning and believed we were going to head back down to the open and noticed that PCLN was up 10 points. So I bought a put spread for around $1.70, 10 point wide spread. that spread is at this very moment about 80 points in the money. If Priceline doesn't have a huge recovery tomorrow, that'll be about 500% profit. Probably my best earnings play this year.
