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Thread: sniper's Account Talk

  1. #685

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    Default Re: sniper's Account Talk

    Well that sucked. The up move was a gap up, which overshot my stop loss on SPXS, turning that one into a small loss rather than a small gain. To add insult to injury, the move pulled back and stopped me out of my entry today. That move erased the gains I've made this month so far, oh well Have to rethink the buy stop strategy when the markets are this volatile. Definitely had more success putting in buy stop orders when the market wasn't swinging this wildly.

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  3. #686

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    Default Re: sniper's Account Talk

    Jumped in short here, SPXS @ 26.28

    SPX 5-day (15m)

    edit: setup didn't follow through like I'd hoped, exiting with a 1% gain. Was expecting a huge move after seeing that vol spike.
    Attached Images Attached Images
    Last edited by sniper; 12-12-2018 at 02:02 PM.

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  5. #687

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    Default Re: sniper's Account Talk

    Got in short yesterday, sold half of that position for +2% so I'm back in positive territory for December. I think that lower resistance in the S&P might break soon. IWM and XLF are making new lows, and it's just a matter of time before the large caps follow, imo.

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  7. #688

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    Default Re: sniper's Account Talk

    Well so far this isn't looking pretty. The bulls know the drill, they need to hold 2630 in order to stay in the game. A close below that will be nasty. We're talking like another 10% drop nasty if this pattern holds.

    What I feel is going to happen though is that we're going to do the dance around that support line for a bit. If it closes below, the buyers will step in, but not before the old support becomes resistance. Today's action is going to be crucial but I'm leaning bearish.

    SPY 12-14-18-0700.png

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  9. #689

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    Default Re: sniper's Account Talk

    15 min chart, some volume anomalies. Larger volume than any opening / closing volume which isn't too common. Algos setting a new consolidation range possibly? Still a big range, as TheoTrade put it, the market is like watching a heavyweight fight with both fighters throwing haymakers back and forth lol.
    Attached Images Attached Images

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  11. #690

    Default Re: sniper's Account Talk

    Quote Originally Posted by sniper View Post
    Algos setting a new consolidation range possibly? Still a big range, as TheoTrade put it, the market is like watching a heavyweight fight with both fighters throwing haymakers back and forth lol.
    Interesting. Good stuff!
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  13. #691

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    Default Re: sniper's Account Talk

    Quote Originally Posted by tsptalk View Post
    Interesting. Good stuff!
    Thanks, though it looks like it's not holding (at the moment). Looking at small caps and financials, they're showing continued weakness. The S&P and Nasdaq look like they're holding on for dear life, but IWM has been leading the market moves. The fact it's showing continued weakness doesn't bode well for the rest of the market.

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  15. #692

    Default Re: sniper's Account Talk

    srry, wrong thread. my bad.

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  17. #693

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    Default Re: sniper's Account Talk

    Boom! I added to SPXS last week, and probably in hind sight maybe foolhardy since I had 66% of my portfolio in SPXS at near the end of the last trading day. I was confident in the position but 66% exposure is probably too risky (after all the mantra of trading is anything can happen, a sharp move up could have burned me bad).

    Sold half of that for a 6.2% gain, good start to this week. Though I'm hoping anyone near retirement isn't getting hit by this down move, I still don't think this is close to how bad it might get.


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  19. #694

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    Default Re: sniper's Account Talk

    Another gap up that's getting sold off. Seems the only way to make money going long in this market is to jump in EOD and hoping for a gap up and quickly getting out early, but that's a lot more risk than just shorting the rips.

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  21. #695

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    Default Re: sniper's Account Talk

    Well, took a look at the chart to get some clues into what the market makers / algos are doing, but I really don't have any idea at this point. So I'm just going to hold my current positions and wait.

    The arrows are intraday volume spikes which usually always sets off alarms in my head, looking like a huge effort to drop the market below 2600. Right now it looks like the line in the sand is 2,575. Not surprisingly, it looks like we're in a consolidation phase that will break either up or down depending on what the news is today. Under normal circumstances, I'd be on the bullish side, but in the current market, I'm not taking any new positions at the moment. It's literally a market where things could go either way. However, leaning bearish since it seems that there's some massive selling pressure lately (and the dominant trend in the market right now is down).

    SPX 30m chart
    SPX 12-19-18.png

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  23. #696

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    Default Re: sniper's Account Talk

    This market is like that guardians of the galaxy: breakout ride at disneyland lol, without a seat belt

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