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Post by huh on Apr 6, 2016 11:45:23 GMT -5
See all the H&S' getting squeezed out there?
A friendly reminder that all of this is just that - a squeeze - and likely a final blow-off top. Stick to your sell targets (though this leg of the squeeze should have more juice in it IMO)
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Post by huh on Apr 6, 2016 14:52:38 GMT -5
...I still say VIX futures up to ~17.03 and S&P down to high 2030's/low 2040's is only a small pullback... The odds of a final blow-off squeeze are looking better and better here. However, breadth is pretty bad - only 48% of stocks green with market up 1/2%. I think some of the things that'll run are: IBB GDX Major banks like BAC, GS, JPM (but these are only backtests of larger bearish patterns, not upside targets or higher highs) VIX to the downside Some of the big techs like AMZN, AAPL, maybe TSLA and some of the other names I've mentioned recently. Looks like pretty good picks. Would be nice to see GDX pick it up a little, and XLF >22.45 would really settle it into squeeze territory. So was anyone buying any of these sectors/names this morning?
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Post by huh on Apr 6, 2016 14:59:03 GMT -5
VXX little double-top downside target ~17.40
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Post by huh on Apr 6, 2016 15:33:15 GMT -5
Here's why XLF needs to see >22.45 in order to squeeze (hopefully with a gap up tomorrow). The red line is the neckline of an almost 2 year H&S pattern. See the pattern that's forming across that neckline? A (very) Complex H&S/Double-Top. One last hoo-rah rally could fill the gaps above (gaps not shown in this chart, on the daily).
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Post by novie08 on Apr 6, 2016 16:42:59 GMT -5
I can hardly wait for the correction! Look at that gap @21.95 or so.
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Post by jacksrbtr on Apr 6, 2016 17:40:09 GMT -5
...I still say VIX futures up to ~17.03 and S&P down to high 2030's/low 2040's is only a small pullback... The odds of a final blow-off squeeze are looking better and better here. However, breadth is pretty bad - only 48% of stocks green with market up 1/2%. I think some of the things that'll run are: IBB GDX Major banks like BAC, GS, JPM (but these are only backtests of larger bearish patterns, not upside targets or higher highs) VIX to the downside Some of the big techs like AMZN, AAPL, maybe TSLA and some of the other names I've mentioned recently. Looks like pretty good picks. Would be nice to see GDX pick it up a little, and XLF >22.45 would really settle it into squeeze territory. So was anyone buying any of these sectors/names this morning? No but I did buy a foot-long Roasted Chicken at Subway.
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Post by huh on Apr 6, 2016 21:56:54 GMT -5
I can hardly wait for the correction! Look at that gap @21.95 or so. IMO that would still only be a pullback for XLF. I'm expecting down to 19.00 at a minimum, maybe even fill that gap at 16.39. Now that would be a correction (and you see why I don't want to be posting much after I flip to super bear - people will either hate me, think I'm nuts, or both)
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Post by jacksrbtr on Apr 7, 2016 8:32:32 GMT -5
I can hardly wait for the correction! Look at that gap @21.95 or so. Why you Apocraphyl Aggrandizer you! Lolol!
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Post by birthmark on Apr 7, 2016 11:56:14 GMT -5
Keep posting those Beary targets Huh. I like them. You see gold hitting 980 if I remember correctly?
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Post by huh on Apr 7, 2016 11:59:56 GMT -5
Keep posting those Beary targets Huh. I like them. You see gold hitting 980 if I remember correctly? Yeah, I think I had something like 935-975, but it would be nice to see ~1320 first
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