Thread: sniper's Account Talk

May buy some SPXL at EOD if this price action holds. Just watching for now, as there's still 1:20h Left in the trading day

SPY Daily @2:42pm EST

Yeah, there's a gap to fill above, but with 30 minutes left in the trading day, the action is a little "blah."

True. But low action is good on a low vol day, it's usually inconsistencies that have alarms going off in my head (low PA / high vol, high PA / low vol). System's saying buy, so I'm in SPXL @ 40.15. Let's have some fun, got my birch mode activated

Well that trade didn't work, sold it at -1.5%, didn't like what I saw on the daily which looked like a H&S, and just a much weaker move to the upside than I expected.

So just going by the seat of my pants here, but it definitely feels like a bear market. In a bull market, I had a really tough time nailing moves to the downside. This time, I'm nailing the moves to the down side with high accuracy but bombing the up moves. Actually so far since october, the only up move I made a gain on was piggybacking on a rip and getting out before it went back down. Perhaps I'm jumping the gun too early on these.

Anyway I hope everyone has a great weekend

I'm noticing a lot of these up moves in the market are gap ups, which makes trading to the upside a lot tougher to predict. In order to catch them, you have to hold overnight, usually when technicals look terrible, and there's a huge downside risk.

Got in some SPXL at 40.90, probably looking to hold it for just a day or 2

Geez after hours didn't look pretty, I should stop trying to catch these upward moves. Luckily even if this play is a loss I should still be up over 2% for the month. But nearly every time I bet on the upside I take a loss. We'll see what happens, but I probably should add a rule to my system to not trade vs the dominant trend.

I know the feeling. Been flying Maggie's drawers all month...

Got out of the SPXL trade at a break even (well, -.05% lol), spider senses are tingling, I don't like something about this setup. Looking at FAZ possibly soon. Bear market rips are usually violently upward and this one is sorta just moseying along. Might still go up, but I just had a bad feeling, markets have been following financials and the tracks on XLF is looking shaky.

We might possibly see some sideways movement until G20 is over, the market might just be waiting for news until the next move

Bought some FAS. I've been waiting to short this bastard but the chart looks more favorable to go long atm. We'll see where it goes

feds.jpg