#ES_F $ES_F #SPY level 2128 good squeeze this morning. Lets see what the rest of the day brings #patience
Hi Cy! Now, that the SPX has finally collapsed meaningfully, I can start to trade again. It's at 2140. I wanted another entry [Lot 2 long] at non above 2120 but I don't know if that's going to happen. But at least, I'm in Lot 1 at 2133. 1. It's at 2145 at 9:58 a.m. PST 2. Ok, just got home. The SPX closed at 2159 today. It's 2:18 p.m. PST. The SPX looks likely to test 2170 tomorrow possibly. If that happens, I am thinking of exiting for profit and for risk management somewhere above 2170.
hope you're having a fantastic bday Tim! i gotta say its really sweet seeing you in here a little more now haha! i think @Steven_Burt said it best in here the other day which i honestly couldn't agree more with him ... but you bring the best (if not THE best imo) market wrap sector analysis on the 'net! keep up the great work! can't say it enough but we all greatly appreciate what you do there! seriously have an awesome bday man! @Vegastrader66
Once again "always buy the dip" has been profitable in this market. Quess it will work until it doesn't. I honestly think the markets are like a bratty kid. Every time rate hikes seem likely, they throw a tantrum to send a message to the FED that if rates hike, the market will blow up. So far the FED has always gotten the message and backed off. The FED should really just add "keep the markets happy" as their third official mandate.
I'm proud of you all today. Friday it looked like my dream of a bullish September was going to fade away. But now there is still a chance! Don't let me down guys!
Interesting that the last 2 times the SPX fell -2% on a Friday then bounced back >1% on Monday was on April 14th & 17th in 2000 and August 3rd & 6th of 2007 ... the following day (Tuesday) were also both up ... will it be third time's a charm tomorrow? Interesting that those both happened in the bull peak years
feels good to get back to markets. but i am running on fumes, i worked my 12 hour shift, went straight to jacksonville, had a hell of a time, then came back, worked another 12 hour shift, and here i am, just getting off, with a grand total of 6 hours of sleep over the past 72 hours. heh.... now onto the markets, i dont really understand what kind of trend we are in right now, i truly do hate this kind of market, it just whipsaws you back and forth, lol.
^^ haha i was just about to ask if you were back yet ... damn glad to see you're back home safe and sound @Ken34 we missed you yesterday! dang only 6 hours of sleep in the last 72 hours is rough man ... hope you get a chance to catch up on those zzz's! glad to hear you had an awesome time down there! even sweeter that the pack won i bet ;D
yes! that was the icing on the cake! it was a good game. the 9/11 remembrance and national anthem were amazing, man seeing that stuff on tv does not do it justice, seriously. it felt like a home game lol, there were as much if not more packer fans than jag fans there. as we were leaving the stadium, everyone was chanting "go pack go!" , it was epic!!
#ES_F $ES_F #SPY levels to watch 2151. / / 2139.50 // 2128 $CL_F #CL_F #crudeoil levels to watch 46.47 // 45.64 // 44.78
Spoiler: Tuesday September 13th Pre-Market Movers & News Good morning Stockaholics! Happy Tuesday! Frontrunning: September 13 IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017 (BBG) Futures dip with oil as investors assess rate hike chances (Reuters) Hilsenrath - Divided Federal Reserve Is Inclined to Stand Pat (WSJ) 'I didn't think it was a big deal,' Clinton says of pneumonia bout (Reuters) Clinton's Lead Narrows Among Independents, Voters Nationally (NBC) Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG) Trump luxury hotel opens just blocks from the White House (Reuters) Soaring Student Debt Prompts Calls for Relief (WSJ) U.S. bombers fly over South Korea in show of force after nuclear test (Reuters) Iran threatened to shoot down US Navy spy planes in the Persian Gulf (Fox) S.Korea's biggest earthquake triggers nuclear safety concerns (Reuters) Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG) Record new U.S. military aid deal for Israel to be signed in days (Reuters) Pimco Bond Fund Cuts Bet as Dimon to Gundlach Warn on Rates Path (BBG) Chinese Debt Soars Into Space (WSJ) High Frequency Traders Elbow Their Way Into the Currency Markets (BBG) Oprah to Help Weight Watchers Find New Leader After CEO Resigns (NYT) Some of the Biggest Hedge Funds Are Bleeding Cash (BBG) STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): FB SPY ISIL NFLX HK NVAX WTW SVXY UCO PII D APC AGTC GS ERII GOOG USG UNG VZ ANTM LMCA CARA RTRX DHI MSFT T UGAZ TODAY'S EARNINGS CALENDAR: THIS MORNING'S PRE-MARKET NEWS MOVERS: WFC, UNH, ANTM, GM, TIF, VIAB, NFLX, CVX, KATE, CVX, KATE, FCX, WTW... source: cnbc.com Wells Fargo — The bank will eliminate product sales goals for retail bankers and strengthen oversight, controls, and training. Wells Fargo will be the subject of a Senate Banking Committee hearing into its sales practices, after the bank settled a case with regulators by paying a $185 million penalty. The panel wants to question CEO John Stumpf about the practices that led to the case. UnitedHealth Group — The health insurer's Optum unit and Quest Diagnostics formed a partnership aimed at reducing billing complexity, as well as providing more transparency into health care costs. Separately, UnitedHealth was rated as a "top pick" at Jefferies because of attractive valuation and a best-in-class management team. Anthem — In that same report from Jefferies, Anthem was downgraded to "hold" from "buy." Jefferies cites concern over expenses and a lack of positive catalysts for the health insurer. General Motors — The automaker's new Chevy Bolt will be able to travel 238 miles on a single charge, a longer range than the 210 for the TeslaModel S. The Bolt will go on sale later this year. Tiffany — The luxury goods retailer named Mark Erceg as its new chief financial officer. Erceg had been chief financial officer at Canadian Pacific Railway since May 2015. Viacom — The stock was upgraded to "buy" from "hold" at Brean Capital, which said most negatives are already priced into the media company's shares, and that there are a number of potentially positive catalysts. Netflix — Netflix was downgraded to "underperform" from "neutral" at Macquarie, which is optimistic long term but thinks Netflix may have some short-term difficulty on rising content costs and increasing streaming services competition. Chevron — The energy producer was rated "outperform" in new coverage at BMO, which said Chevron has reached an inflection point and is entering a new era of higher margin growth. Kate Spade — The fashion accessories maker was upgraded to "outperform" from "market perform" at Wells Fargo, which thinks recent stock weakness has created an attractive entry point and that it sees a pickup in coming quarters. Freeport-McMoran — The mining and energy company struck a deal to sell Gulf of Mexico assets to Anadarko Petroleum for $2 billion. Freeport will use the proceeds to help pay down debt. Weight Watchers — Chief Executive Officer James Chambers is stepping down at the end of September, with a three-member "office of the CEO" replacing him until a permanent replacement is found. TV personality Oprah Winfrey, who owns 10 percent of the company, will help the weight loss company pick a new chief executive. Boeing — Boeing increased its long-term sales outlook for the China market to $1.025 trillion over the next 20 years, with estimated aircraft purchases of 6,810. That's up 7.6 percent from Boeing's prior prediction for jet sales to China. Nvidia — Nvidia unveiled its latest artificial intelligence computer that will be used to power Baidu's self-driving car technology. The two companies had announced an autonomous vehicle partnership earlier this month. Facebook — Facebook's Instagram unit launched a new keyword tool designed to monitor potentially offensive comments. Users can input words that they consider offensive and want hidden from posts. NRG Energy — NRG won a bankruptcy auction for SunEdison's wind and solar projects in Texas and other states. A court filing indicates that NRG won the auction with a bid of $144 million. Intersil — Intersil agreed to be bought by Japanese chipmaker Renesas Electronics for about $3.2 billion. Published reports in Japan last month had indicated that Renesas was interested in the California based semiconductor maker. Good trading day to everyone in here on this Tuesday!
^^ sweet ... i did not think i could "spoiler" my morning movers & news post like that ... that'll work perfectly
I mentioned I didn't come back home until the market closed Monday. Hypothetically, I should have exited for profit taking at around 2159 yesterday--but I had been thinking with the positive close yesterday, that there would have been a possibility of testing that 2170 level today, where I had mentioned being interested in exiting for profit taking. But that's how it goes. I am not exiting LOT 1. If the price collapse non above 2120, I continue to plan on entering long LOT 2 long. I believe LOT 1 at 2133 shall not be for a loss in time. But with these trades, I am not day trading but swing trading. So, I am accounting for some fluctuation in prices and averaging in, if the prices are appetizing.The SPX is at 2135 at 7:01 a.m. PST on Tuesday. Edit: 1. It is 8:25 a.m. PST. I just entered long LOT 2 at 2127. We'll see how it goes but I am thinking that LOT 1 at 2133 and LOT 2 at 2127 will both be profitable as a swing trader. I shall monitor the situation when to exit for either profit taking or continuing to ride any bullishness that may--and is likely-to happen. I plan to enter long LOT 3 if the price collapses to non above 2110. My theory suggests that price level is a possibility but buying at 2130 is right in the area of a solid buy zone. This is the monthly expiration week and the institutional traders are doing wild things "just because." From my perspective, thinking in terms of catalysts to explain what has happened since last Friday doesn't make any sense. 2. The Advance Decline is at negative 2290 and the TRIN is 4.38. Those are extremely high numbers but the SPX is only at 2124 at 8:35 a.m. 3. The SPX is hovering around 2127 at 8:46 a.m. It seems like there is some buying going on right now. We'll see what happens. This is making an observation on the intra day frame. Things can can go either way, of course, from that time frame perspective. And from that time frame perspective, the daily bar for today is continuing to form an inside bar. 4. The SPX is at 2125 at 9:32 a.m. PST. A key for today is for the bulls today to maintain the price above 2119. This thread is like a ghost town. The only thing I'm seeing are tumbleweeds. 5. 9:53 a.m. PST. It looks like the SPX is interested in testing that 2120 level. It's at 2123 currently. The advance decline number and the TRIN are both at pretty high levels. 6. 10:21 a.m. PST. The SPX moved from 2120 to 2132. The bulls managed to keep the price above 2119. I mentioned that the bulls have to keep it above 2119 today. So, it seems like there is buying in this 2120 to 2130 zone. 7. The idea of buying a call option yesterday made sense. Today, because of this range bound behavior, buying a call option is much more risky. I am thinking of just working with my equity positions today. 8. 10:31 a.m. The SPX is at 2135. It looks like the bulls are continuing to be interested in buying at these levels. The charts are starting to look much more bullish. I am continuing to work with LOT 1 and LOT 2 long positions that I entered yesterday and today. Equity positions are simpler to work with market price fluctuations than options. 9. The SPX is at 2130 now at 10;36 a.m. I am monitoring an SPY Call option I am interested in [DOTM] but haven't bought and it's difficult to figure out what the best strategy would be for working with a CALL option under these conditions today. 10. The SPX at 2126 at 10:53 a.m. Yea, today is not a good day for day trading via options. Too range bound. 11. 12:56 p.m. PST. 4 minutes until the close. SPX at 2130. It looks like it should close about that level. That creates an inside bar on the daily chart and an inside bar on the 4 hour chart. The bulls kept it above 2119 today. They actually have to do that all week. That 2119 level is now really important this week.
For now almost like yesterday didn't happen for the market, gains from yesterday are mostly erased lol. Bond yields continue to go up, it probably makes the FED more reluctant to hike next week
Yeah quad witching this week. Definitely a wild one. re: ghost town...I haven't seen Gil this week hmm...I want to let @Cy McCaffrey know that I will be going on vacation the next two weeks. Just in case it matters in him planning his games, if others are on vacation too.
