Since we are at new highs, one of my favorite plays is to fade the first attempt at a breakout into a new high on the S&P. Usually it fails. Especially likely to fail today because we are close to the 1150 target on the S&P. Thus, I will be a seller this morning, initiating a short position anticipating intraday weakness. I expect any strength in the first hour to be a sell opportunity. Target price is 1138 on the ES.
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11 comments:
did u get short es was 1147 last night
I didn't get short as much as I wanted, and I had to lower my order to get some filled. My target remains at 1138.
You're target to get out from the trade is 1138?
your
What happened to you dawg?
You used to be a big ass Kodiak grizzly.
Now you're like a Koala bear or a panda.
1138? That's it?
Im not getting out till we hit at least 1125.
Hopefully AA disappoints today, and between now and Thursday there will be nothing.
Let's see INTC and JPM, I don't expect nothing surprising from them.
I am just adjusting to the volatility. We could get to 1136, but I don't see us going much lower. I don't want to get caught in another updraft just over 2 points. Thus my 1138 target.
I'll be back to being a Kodiak when the market gets choppier. I don't like to short dull markets.
LOL, by the time we get the choppiness, the market will already have gone down big. I'm positioned now, and I will not waver dawg until I am proven convincingly that I am on the wrong side of the market. None of this take this horse to the water to drink shit. I start drinking now.
These small caps are fucking going nutz dawg. All of them. They are rotating into the left out names and shell companies.
I like the action so far. I have lowered my target to 1136. We are probably going to trend lower till at least 2:00 PM ET.
Same thing happened with small caps in 2004. You had the market going nowhere for 6 months and very speculative no name small caps would fly higher randomly based on the theme of the month....feels exactly like that time period.
That's good for me hope it happens.
What is this news about the Fed buying stocks and adding 1.4 trln to their balance sheet to buy more assets.
Is this real?
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