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My target for SPX was 3,222/5. It ran up to 3,234 or so which is enough allowance for experimental error. However the futures are now trading near 3,241 which I think invalidates my target.
Above 3,222/5 the next area of interest is 3,250/60 and I now have to assume it wants to try for that area.
Small short Dow at 28700 … stop 29100 … limit tba
I had this earmarked and so will execute the trade.
US new ath’s with just blue sky above and so I do
not expect much from this trade.Never give up, never surrender.
Wishing cimac,hatman and everyone else a happy festive period and good health for the new year to come.meanwhile took a small short at 3248 es.riduculously strong market.every single rally appears to be a 3rd of a 3rd lol.the eventual pullback will be horrendous u would expect.will the real downmove be allowed to occur before next years elections? Hard to see.decent jan decline before another rip into late spring has my money until proven otherwise.good luck all.
From what I’ve read, it seems that a large number of fund managers have underperformed the index this year and have portfolios overweight in cash and shorts. Nearly all funds have to produce a year end report to clients and managers are embarrassed at having called the markets wrong. In order to avoid being ‘seen’ to have wrong balances, many funds are buying the market and rebalancing so that their year end reports don’t expose too much of their wrongfootedness. In other words this melt-up is mainly due to funds ‘having to buy’ to tidy up their tear end ‘visible portfolios’.
I believe today (Friday) is STD ‘day 4’ so we’ll have a ‘3 & 4’ Monday Tuesday into year end. Have to assume that this melt-up will continue into year end and perhaps spill over into early January as beginning of month new cash hits the market.
Unless of course something else happens.
I think there will be better trading to be had in January,
for the bears !Never give up, never surrender.
RUT: in the Russell 2000 I had/have 1679 as a possible peak target. It hit 1681 Friday then reversed downwards. The big red candle on the chart *might* be a sign that this index has peaked at the target area.
Unfortunately this isn’t confirmed by SPX or DJI – SPX having exceeded its target and now looking like 3250/60, and DJI still remaining about 50/100 points below its ‘perfect target’.
Nonetheless, the Russell might be showing an ‘early warning’ that a reversal is near. If it can remain below the 1679/81 area next few days while SPX and DJI attempt their slightly higher targets, that would certainly be interesting. Something in this market has to be the first to give a warning.
I think there will be better trading to be had in January,
for the bears !Thursday 2nd and Friday 3rd of January look bearish
and that’s enough for me to hold my Dow short for
some kind of drop.Never give up, never surrender.
Small short Dow at 28700 … stop 29100 … limit tba
I had this earmarked and so will execute the trade.
US new ath’s with just blue sky above and so I do
not expect much from this trade.Closed at 28525 … a nice little earner !
Never give up, never surrender.
Profit taking … EOY window dressing … or something else.
Let’s see where we close out 2019 on tuesday for more clues.
Never give up, never surrender.
Small short Dow at 28700 … stop 29100 … limit tba I had this earmarked and so will execute the trade. US new ath’s with just blue sky above and so I do not expect much from this trade.
Closed at 28525 … a nice little earner !
Congratulations on your ‘nice little earner’ cimac.
Small long Dow at 28370
Any profit will do above 28400 perhaps 28450 …
… no need to be greedy.Never give up, never surrender.
Small long Dow at 28370
Any profit will do above 28400 perhaps 28450 …
… no need to be greedy.Closed at 28410 … it’s above the min target and
best to be safe at EOY … see you next year !Never give up, never surrender.
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