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Post by huh on Oct 22, 2014 11:01:54 GMT -5
Seeing signs that the market could go semi-parabolic here. Basically market is moving up on topping patterns (vs. bottoming patterns, continuation bullish patterns like flags, or even typhoons). For example, I have no doubt Monday saw a lot of selling. I can tell this by the patterns it made - lots of rounded tops. However the market still floated up. Same thing these last two days. And things rising while gapping above their top BB's - another sign. Also, futures. No pullback whatsoever overnight.
So this means one of two things: the market will close red today, followed by a large panic gap down; or it will go semi-parabolic. Semi parabolic would take the SPX to ~2060's by EOM. (full parabolic would be over 2075 and take it to at least mid-2300's, but can't bet on that one here. Too big a chance it tops on the semi-parabolic move).
A parabolic move would mean no pullbacks, no FIB retracements, no support tests, no gap fills, no resistance.
In short ... No Mercy.
I'm rooting for the panic drop first (esp. in tech). But either way, I think we'll see new highs very soon.
JMHO
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Post by huh on Oct 22, 2014 11:02:52 GMT -5
...another example of this is NFLX. It's breaking above a continuation rising wedge right now after it's huge sell-off. And SPX fell below a 5yr rising wedge last week, now back into it. Remember my thread AMZN & PARABOLIC MOVES? Squeezing rising wedges. Was able to predict and measure the parabolic move in AMZN before it topped. GLD did the same thing at it's top. (noted at the time to remember that thread and it's patterns - knew it was coming in SPX. This has been year's in the making) Also, many large caps getting sold on this recent move up. MM's are selling, and that means this bull is about to make it's last big leap. Now we need to see if it takes a deep breath first (or if it already did). JMHO
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Post by huh on Oct 22, 2014 15:01:19 GMT -5
And now, the panic...
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Post by walnut on Oct 22, 2014 15:04:49 GMT -5
I sold a few ES calls last night, no panic here
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Post by huh on Oct 22, 2014 15:08:22 GMT -5
I sold a few ES calls last night, no panic here
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Post by huh on Oct 23, 2014 7:19:02 GMT -5
I didn't mean panic buying! LOL Somebody saw this coming. As soon as markets closed yesterday, VIX scams moved big in advance of this futures pop. These bloody brits buying anything with a stock symbol.
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Post by novie08 on Oct 23, 2014 8:44:12 GMT -5
Great call again huh. It is after all ELECTION time! Also Europe is imploding.
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Post by huh on Oct 23, 2014 8:49:07 GMT -5
Great call again huh. It is after all ELECTION time! Also Europe is imploding. Well, so far I've said it could go either way. Back to lows, or new highs. Can't get that one wrong! (or maybe I can). LOL But I am sure we will see new highs. Only questioning whether or not we see slightly lower lows first. A double-bottom there would then target the top of the rising wedge.
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Post by huh on Oct 23, 2014 10:38:56 GMT -5
Let's try this again, except this time with a twist because of today's action... And now, the panic, followed with a panic gap down.
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Post by huh on Oct 23, 2014 10:40:18 GMT -5
Anyone else noticed this? ... I believe every single call I've made this week has been ~1 day early.
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Post by jacksrbtr on Oct 23, 2014 11:32:09 GMT -5
Anyone else noticed this? ... I believe every single call I've made this week has been ~1 day early. One could say you are a "man ahead of his time."
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Post by huh on Oct 23, 2014 12:06:39 GMT -5
Anyone else noticed this? ... I believe every single call I've made this week has been ~1 day early. One could say you are a "man ahead of his time." But unfortunately in the world of trading, it's more specifically; "the man with the wrong entries and stops". Or in much simpler terms; "the man that was wrong".
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Post by huh on Oct 23, 2014 13:42:22 GMT -5
Soooo....
Anyone positioned for a 5% down day tomorrow?
Muhahaha
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Post by walnut on Oct 23, 2014 13:44:51 GMT -5
I'm once again testing another arbitrage "magic" trading idea. These whipsaws are great for testing worst case scenarios.
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Post by crumbdon on Oct 23, 2014 14:09:09 GMT -5
Soooo.... Anyone positioned for a 5% down day tomorrow? Muhahaha Did someone just fart in the elevator??? Suddenly everyone wants off...
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Post by huh on Oct 23, 2014 14:15:26 GMT -5
Soooo.... Anyone positioned for a 5% down day tomorrow? Muhahaha Did someone just fart in the elevator??? Suddenly everyone wants off... LOL Interesting...it smells a little like a mixture of borshch & caviar.
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Post by crumbdon on Oct 23, 2014 14:23:48 GMT -5
Ebola scare at Bellvue
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Post by crumbdon on Oct 23, 2014 14:24:20 GMT -5
news breaks just as DJIA gets to a .618 retracement
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Post by crumbdon on Oct 23, 2014 14:25:23 GMT -5
What are the odds of Ebola news hitting right at the first touch of the SPY 50-dma?
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Post by huh on Oct 23, 2014 14:26:49 GMT -5
What are the odds of Ebola news hitting right at the first touch of the SPY 50-dma? Almost 100% if you understand how the whole system works.
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