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Post by huh on Jun 26, 2015 10:58:12 GMT -5
MNKD downside target 5.21-5.23 (currently 5.76).
>5.80 resistance/stop
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Post by huh on Jun 26, 2015 11:05:24 GMT -5
Bulls not putting in a good show at all here. Last major support for QQQ before finding a large pothole is ~109.07. May need to visit it now, but if bulls can't hold that, it's coytains. It's upside resistance is 109.78. Sure looks like QQQ's will visit that 109.07 area. That would be the last chance to squeeze for today/this week. Only >109.50 would then be the trigger needed for a squeeze signal.
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Post by huh on Jun 26, 2015 11:14:52 GMT -5
Looks like NQ gonna run from here (up), currently down little more than 4% (had been down almost 10%) Dying stocks always bounce at 5, 2 and 1 Wasn't much of a bounce, 5.29 is support now, lose that and the bounce could complete already NQ down as much as 10% since losing that support. Expecting it to backtest ~5 before continuing down to 3.95
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Post by huh on Jun 26, 2015 11:17:55 GMT -5
Best case scenario I see for GPRO on this run would be a little over $61, but there's a couple important resistances in between here and there. GPRO hit a little over $61 in pre-market GPRO down 11% since, first downside target is ~50.50's
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Post by huh on Jun 26, 2015 11:23:21 GMT -5
I think we should have a moment of silence for all those poor ETSY buyers yesterday. Typical retail trader likely got in a little over 34.00 - already down ~14%+. When will people learn not to buy these 'crafty' wealth transfer systems? Insiders Pulling Out ETSY down nearly 60% now. Ultimate downside target ~12 against a stop of 16
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Post by huh on Jun 26, 2015 11:55:03 GMT -5
Bulls not putting in a good show at all here. Last major support for QQQ before finding a large pothole is ~109.07. May need to visit it now, but if bulls can't hold that, it's coytains. It's upside resistance is 109.78. Sure looks like QQQ's will visit that 109.07 area. That would be the last chance to squeeze for today/this week. Only >109.50 would then be the trigger needed for a squeeze signal. QQQ hitting that last FIB support now @ 109.07, right at the end of lunchtime. Squeeze or die time. Interesting notes: many major banks only now near filling today's opening gap-up, and while market's making lower lows, VIX scams not making higher highs. Either way, it should be an interesting afternoon.
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Post by crumbdon on Jun 26, 2015 12:23:40 GMT -5
SPY 210 has been a hotspot lately, so we SHOULD come back up to retest it before losing it for good, but I see no strength anywhere to support that notion.
Glad I moved to a short bias the last two days. Even a squeeze now would leave lots of opportunities for escape with little harm. It won't be at all like the QE days, IMOHO.
BTW, isn't today the Russell rebalance, or something like that? Should add fireworks to the close if that's true.
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Post by crumbdon on Jun 26, 2015 13:08:15 GMT -5
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Post by huh on Jun 26, 2015 14:03:14 GMT -5
Think I'll go long some FIFIKNOW for this last hour
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Post by crumbdon on Jun 26, 2015 14:51:02 GMT -5
And back up to retest SPY 210. And back down.
And back up....
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Post by jacksrbtr on Jun 26, 2015 17:06:42 GMT -5
Have a great weekend gang!
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Post by huh on Jun 27, 2015 8:46:24 GMT -5
Intraday iH&S in VXX about to confirm - VIX scams could be a play, at least until EOD that is (only expecting ~2% upside in VXX, 3-4% in UVXY) Both VXX & UVXY hit their upside targets exactly with that HOD Charts look like crap into the close - topping patterns, failed supports & bearish continuation patterns forming - all the things a bear should go short on. Everything about them says sell, sell, sell This is typically when the markets gap up big the next day. We'll see (OT: if UVXY were to lose 32.20 now, the new downside target becomes ~28.50) Because of the bounce in it Friday, the adjusted downside target for UVXY is ~29.60 IF it loses 32.75 now
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Post by huh on Jun 27, 2015 8:49:37 GMT -5
MNKD downside target 5.21-5.23 (currently 5.76). >5.80 resistance/stop MNKD broke back above the resistance right before the close, so it probably has a little life in it yet. It'll likely fill yesterday's gap down ~5.90. There is a very small chance it could still see ~6.60 before continuing down, but the entire market would likely have to squeeze hard to make that one happen. Either way, 5.80 is the support to hold now. JMO
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Post by jacksrbtr on Jun 27, 2015 15:01:01 GMT -5
Been working on that birdhouse restoration project...maybe a day away from posting a shot of it. This is the one made with a recycled oak toilet bowl seat. At one time I had an intimate relationship with it but as time goes on things change...
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