Soybeans off over a full dollar now from the highs. Down 40 cents today.
The ACD Method
- Thread starter sbrowne126
- Start date
Soybeans off over a full dollar now from the highs. Down 40 cents today.
Pretty quiet in here today.
What are you watching right now Quon?
So the QTR levels continue to hold and the number lines are firming up. But what is more impressive is how well this market is absorbing bad news. Usually I would be really worried about the market trading sideways at the lows but it's trading sideways on BAD news! Bad news/good action!
As Guy Adami says on fast money, you have your bogey here at 1345 to trade against on the long side. As long as we hold, I think we might be ready to pop. But being the cynical trader, I can see a situation where we take out the swing lows on high volatility to stop everyone out and then rocket higher.
I'm still long natty gas and short bonds. All option positions. I'm short soybeans also through options. I'm also long all sorts of dollar neutral spreads in ES options. In other words, I'm bullish. LOL. But I will aggressively spring into action if we make weekly A downs next week. We do have confirmed monthly A downs across the board so I expect this market to keep testing the swing lows.
Watching the number lines like a hawk.
As Guy Adami says on fast money, you have your bogey here at 1345 to trade against on the long side. As long as we hold, I think we might be ready to pop. But being the cynical trader, I can see a situation where we take out the swing lows on high volatility to stop everyone out and then rocket higher.
I'm still long natty gas and short bonds. All option positions. I'm short soybeans also through options. I'm also long all sorts of dollar neutral spreads in ES options. In other words, I'm bullish. LOL. But I will aggressively spring into action if we make weekly A downs next week. We do have confirmed monthly A downs across the board so I expect this market to keep testing the swing lows.
Watching the number lines like a hawk.
My man Joe Terranova does it again. This time Doug Kass joins him.
JPM is best of breed, so i will not sell my JPM long. Doug Kass twitted
yesterday that he is buying JPM at 38.50.
When trades turn south they become investor vs traders. Doug Kass
twits all day his trades long SPY and out SPY intra day.
Mr. Kass never mentioned if JPM position is a trade or investment.
At least Joe Terranova said he will not add to his long position.
I am a fan of Joe Terranova so that's why I follow him.
JPM is best of breed, so i will not sell my JPM long. Doug Kass twitted
yesterday that he is buying JPM at 38.50.
When trades turn south they become investor vs traders. Doug Kass
twits all day his trades long SPY and out SPY intra day.
Mr. Kass never mentioned if JPM position is a trade or investment.
At least Joe Terranova said he will not add to his long position.
I am a fan of Joe Terranova so that's why I follow him.
So you two are on speaking terms again?
You and Joe that is.
Quote from Maverick74:
So you two are on speaking terms again?
You and Joe that is.
As long he sticks to lessons of Fish (lol).
Most of the stuff I was looking at last week and some nice swings I had this week. Took in natty, XLP, and ITB this week, (had natty from last week, and the others were swings off their respective weekly A downs). Great week.
Now I'm short bonds via the TBT, (getting a tiny bit hairy up here) and long some LULU off the monthly A down. Consumer sentiment seems to be putting a nice bid under select retail names despite the so called "bad" JWN call, and strength is in all the stuff that's levered to the average Joe, (that's gotta be a good sign).
I tend to think we go higher because everyone I follow is so bearish! Not to mention how the JPM thing is being treated like the end of the world. For me XLF was able to climb back above the monthly A down today, (not that I'm bullish banks mind you). I'm bullish because its been the hardest trade to stay in, but seems to be the right one.