I'm seeing hints in my charts that the market will have it's legs pulled out from under it Tuesday. Have to wait and see.
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Smart Money's Swing Trades Thru T.A.
- Thread starter Smart Money
- Start date
I'm seeing hints in my charts that the market will have it's legs pulled out from under it Tuesday. Have to wait and see.
Quote from LEAPup:
Sold NFLX $124 Looks like it's topped out.
It's odd. I was looking at NFLX, and a couple more you mentioned, They all looked topped and on the way down. Yet the market keeps going up. I don't get it. I tried a little shorting with TZA but didn't like the heat so I got out.
SM
Quote from Smart Money:
I'm seeing hints in my charts that the market will have it's legs pulled out from under it Tuesday. Have to wait and see.
Well, there are so many "indications" that are "blurred" right now that timing 2-3 days out is going to be tough. I can't do it.
If you BTC your shorts, I'd stay there for the moment rather than replacing/rotating them. You'll make the $ back anyway.
It's a trader's market right now. Until I see a trend take shape, a KR, I'm cautious going long.
Quote from LEAPup:
Well, there are so many "indications" that are "blurred" right now that timing 2-3 days out is going to be tough. I can't do it.
If you BTC your shorts, I'd stay there for the moment rather than replacing/rotating them. You'll make the $ back anyway.
It's a trader's market right now. Until I see a trend take shape, a KR, I'm cautious going long.
Here's where I blew it: I said this:
"This sounds like a cop out, but right now, the market is in a very "unstable" place. Take a look at any market and remember that index average. If it moves 1/2% in either direction from where it sits now, it will keep going for at least another percent beyond that. That being said, I think it will move down because of how far and how fast it has moved lately. I think TZA is a buy right now because of that, but man...a person could get killed with the a gap down tomorrow. I'm going to wait for the markets to move 1/2% in either direction and pile on with a leveraged ETF.
"
The price was sitting right there half-way between a (longer term) bollinger band and the mid-line of the bands of it. I knew it would go either to the upper band, or back to the midline, and I thought I was seeing tendrils of something saying we'd drop.
Boy was I wrong. My "tendrils" were "noise" and it marched right up there.
Here's the graph now:
http://stockcharts.com/h-sc/ui?s=TNA&p=D&yr=0&mn=3&dy=12&id=p14233268101
I think it will hit that upper bollinger and either drag along it (less likely) or bounce right off it (more likely). I think it will bounce back down to the midline.
Yeah, I should have held what I had, but I hate riding out a short and then finding out I was really wrong...I always cut my losses early.
SM
Quote from Smart Money:
Here's where I blew it: I said this:
"This sounds like a cop out, but right now, the market is in a very "unstable" place. Take a look at any market and remember that index average. If it moves 1/2% in either direction from where it sits now, it will keep going for at least another percent beyond that. That being said, I think it will move down because of how far and how fast it has moved lately. I think TZA is a buy right now because of that, but man...a person could get killed with the a gap down tomorrow. I'm going to wait for the markets to move 1/2% in either direction and pile on with a leveraged ETF.
"
The price was sitting right there half-way between a (longer term) bollinger band and the mid-line of the bands of it. I knew it would go either to the upper band, or back to the midline, and I thought I was seeing tendrils of something saying we'd drop.
Boy was I wrong. My "tendrils" were "noise" and it marched right up there.
Here's the graph now:
http://stockcharts.com/h-sc/ui?s=TNA&p=D&yr=0&mn=3&dy=12&id=p14233268101
I think it will hit that upper bollinger and either drag along it (less likely) or bounce right off it (more likely). I think it will bounce back down to the midline.
Yeah, I should have held what I had, but I hate riding out a short and then finding out I was really wrong...I always cut my losses early.
SM
One of the better traders out there: "I always buy late, and sell too early..." No worries bro!