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btw my short positions are based on my idea that says
do i really believe is possible never to see again that price in the next few weeks ?
if the answer is no then i take the trade since it is risk free.
Well done stathis, it is correct.
Lets take the vaccine Euphoria, the deputy chief medical officer of UK today said that a vaccine may never be found for coronavirus, and it could last years.
So this all is absolute nonsense and I go with my theory that they have taken it higher, so they can short it higher (now that they can short again after being banned for months).
It is not the first time I have been underwater and it wont be the last. I have a plan and that plan has not changed for me. Just the usual scenic route.
Plan your trade, trade your plan!
Another reason it went up is that Powell was talking bullish over the weekend. He has just come out and said “Recovery could last well in 2021”.
I seriously am not worried, just a little inconvenienced.
2965 was the previous recent high on ES. There will be a queue to short that which means chances are it either does not get there or it will push though and burn shorters further, before a proper tank.
Plan your trade, trade your plan!
NDX target was 9,200. It got exceeded so something else is going on.
DOW target was 23,800. Again it got exceeded so the expected pattern has been negated.
Possibility that we are in an upwards ‘five’ in which case it will go higher. This ‘five’ *might* be part of an expanded flat but only time will tell.
I believe today is ‘day 3’ so one must expect the trend to continue into ‘day 4’ and perhaps spill into ‘day 1’.
Short 2960.1 SPX
Short 11111.6 DAX.
It’s a massive risk as chances are we go up in crookshour, but I have to take it.
Plan your trade, trade your plan!
NDX target was 9,200. It got exceeded so something else is going on. DOW target was 23,800. Again it got exceeded so the expected pattern has been negated. Possibility that we are in an upwards ‘five’ in which case it will go higher. This ‘five’ *might* be part of an expanded flat but only time will tell. I believe today is ‘day 3’ so one must expect the trend to continue into ‘day 4’ and perhaps spill into ‘day 1’.
Cheers David, definitely “something else going on”
Plan your trade, trade your plan!
Shorting the high on a +96 SPX day and even then I could not make more than 4 points.
For me not one trade banked today, which is really rare.
It could now get quite scary into 20:50 if shorters are yet to cover.
Plan your trade, trade your plan!
Shorting the high on a +96 SPX day and even then I could not make more than 4 points. For me not one trade banked today, which is really rare. It could now get quite scary into 20:50 if shorters are yet to cover.
Phew, just 13 points on SPX up into 20:50.
Can we please now retrace some?
Plan your trade, trade your plan!
Tuesday is Cycle Day 1 … stocks attempt to find a ‘l’
Turn a round tuesday
Never give up, never surrender.
It was the best retrace of the day at close.
OK today is written off, lets see what happens tomorrow.
Plan your trade, trade your plan!
DOW : URGENT. The Dow shot upwards well above the potential ‘B’ wave target at 23,800. The shape looks like a ‘five’ not yet complete.
High probability here that the larger wave ‘B’ has completed and we are now commencing wave ‘C’ upwards to much higher levels. In which case this ‘five’ (if that is what it is) is just the first five in a larger five wave sequence.
And if so, the gap yesterday is a ‘breakaway gap’ that will not fill (the first gap in the usual three gap sequence).
This ‘five’ measures to 24,900. However we have already completed 1, 2, 3=1.618, so a 4th wave decline might be seen to around the 24,400 area.
The alternative scenario is that this is the middle part of an expanded flat. But looking at that closely I think the chances are slim (but possible).
Bears need to be VERY CAREFUL here because wave ‘C’ can take the Dow to at least 26,700 and perhaps as high as 29,200 to fill the gap in that area.
NYA: perhaps the cleanest chart. The NYSE dropped to try to overlap wave ‘a’. It missed it by a few points, but the *shape* looks correct. From that attempted overlap it has shot upwards and, like the other markets, the rise looks like a five not yet complete.
Very high probability that NYA has completed waves ‘A’ and ‘B’ and is now entering ‘C’.
Given the potential size of the ‘five from B’ the target becomes C=A in the 13,450 area.
Whether it will get there remains to be seen.
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