The ACD Method
- Thread starter sbrowne126
- Start date
OK, I'm going to be busy today so I'll just give it to you. And yes, I already took my position. The trade is X, as in US Steel. I think we'll tag 21 by the end of the QTR, that's a 15% move from here. And we could see a nice move into year end. This is the first buy signal I have gotten on steel in a VERY long time. Price action is holding up well against the market.
Quite a bit of short interest, if they get squeezed it will be a sight to behold.
http://www.forbes.com/sites/dividen...ponent-replacing-wpx-energy/?partner=yahootix
Yeah that's just added fuel for the fire. It has been heavily shorted for a while now. Like I said, this has been one hated name for quite some time.
Wow. I saw the ISEE reading today and almost did a double take. We printed 161 on the composite reading. That's the highest reading of the year!!!!! Good lord. What are you guys doing. LOL. No one ever said War scared anyone in this country. I'm sure the volume totals are low today which might have skewed things a little bit, but my God is that a high reading to have as we are sitting on the swing lows.
I should add this came a day after one of the lower readings on the year at 83. The long term avg is around 100.
I should add this came a day after one of the lower readings on the year at 83. The long term avg is around 100.
You can do a search on this thread to get a detailed explanation of it. The short version is, it's a unique indicator from the ISE exchange that measures trader sentiment by taking the number of calls purchased over the number of puts. These are open only transactions and only retail flow. No market makers or firm orders. Also does not factor in spread orders. It measures the exuberance or lack there of in the market. When the reading is high,it's showing lots of spec call activity. When it's low it's showing everyone running to buy puts. Market reversals usually happen at extreme readings after a prolonged trend. The indicator is broken down into equity only, Index only and both. There has been a lot of discussion on this thread about it.
Well, I actually did my bit yesterday?
The markets went down supposedly due to the probability of an attack on Syria. As reasons go, that has to be about the most stupid one I can think of. I don't see Russia and China going to war with America et al over Syria, so what on earth is the concern?
Calls looked attractive, so I bought some.
The competition for most idiotic idea of August (slow month?) is still open though; MSFT spiking on the Ballmer news and then falling back is running neck and neck.
Quote from justrading:
Well, I actually did my bit yesterday?
The markets went down supposedly due to the probability of an attack on Syria. As reasons go, that has to be about the most stupid one I can think of. I don't see Russia and China going to war with America et al over Syria, so what on earth is the concern?
Calls looked attractive, so I bought some.
The competition for most idiotic idea of August (slow month?) is still open though; MSFT spiking on the Ballmer news and then falling back is running neck and neck.
well, Syria war may not be that trivial
http://rt.com/op-edge/us-war-iran-begins-syria-096/
The war on Iran beginsâ¦in Syria
If US agenda is to crack Iran then Russia then China, why they all would not join to Syria war instead and get over with?
I have no doubt that the haste to engage with Syria over the chemical weapons attack is because Syria is aligned with Iran. Given the abundant willingness of Muslims to kill anyone and everyone in order to further their cause, other Muslims included, I would not put it past the rebels to use those weapons to draw the West in. So, where is the proof it was Assad, and why should we believe anyone this time when we have seen how they all will lie to us, as in Iraq and WMD?
Still, I believe Russia and China will be motivated by self-interest, and are not so stupid as to want war over the Middle East. Bigger fish to fry and all that, and I do give their leaders credit for being pragmatic.
In any event, it is a good trade. If I am colossally wrong and the SHTF, we will all have more to worry about than the cost of a few calls. Good upside, no downside.