Lions, as of now it looks like my call on eBay is not playing out in the manner in which I believed it would.
Yesterday's market trading action made a quick reversal early on which forced me to take up a 10% out of the money hedge on my EBAY calls, and although my hedge did take some of the sting out of the entry day reversal, I did close the trade earlier today with a loss.
Today's trading action is again wildly bizarre.
With regard to the tech sector, Amazon is down nearly 3% on an earnings miss and Apple is down as well.
It appears that this market may be ripe to fall.
Now I am not saying that we are going to experience a crash, but a well needed pullback would be very welcome here.
Yesterday I posted a position against QQQ on my website TradersChoice.net, today I took up yet another bet against the market, this one against ticker SPY, click here: https://www.traderschoice.net/money-page--stock-picks.html
With regard to these positions against the Q's and SPY, as always exercise caution.
My concern with betting against the market, even at these over the top valuations, is it seems that the Federal Reserve is determined to push stocks higher. Personally I do expect the market to continue its march higher on the back of a weaker dollar and continued Federal Reserve easy monetary policy.
Again, I would really like to see a pullback in this market as a set up for a new leg higher.
Happy hunting my Lions!
Your % of right calls far out weigh your misses. I do agree 100% that this market is going up with the current conditions you've mentioned. They're going to keep this game of musical chairs going until they want it to stop.
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well Greg your mistake and then learning from it , still sets you apart from those on the main stream media who never , never admit or acknowledge their mistakes, all of it just goes to say that you are the better person and more dependable than the rest and we upvoted you
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Success always hi friends in steemit followback
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wao your post get great score very fast
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Good advice Greg, proceed with caution on any investments in this environment, even metals at times. Thanks @marketreport
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Like you do tell people, you are not perfect and you do admit it when you are wrong. I'm glad for your honesty and for your quick decisions to trade in a good manner. Theres nothing wrong with taking a step back and reevaluate a trade. I myself have made those kinds of trades.
I just look forward to the next setup and jump on to the opportunities that present themselves.
Thank you.
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You forgot to add >>> "...and right now shorting Bitcoin Cash looks like the slam dunk opportunity for the next week anyway. Can you believe they are actually trading it at $380+ right now?:O If I was smart I'd go find out if there is a way that we can scrape up some sheckles collectively and then let JoeJustJoe tell us how to turn $50 into $5000 via that new bitcoin cash thingy coming to a wallet near you soon." :-) I'd tell you exactly what to do but first you need to refer me to the casino that will allow you to make the bet....please....sir. :-)
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These are the 4 Cryptocurrency Challenges:
BTC:
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-bitcoin-or-high-close-date-of-29-july-2017-or-enter-today
LTC:
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-litecoin-or-high-close-date-of-29-july-2017-or-enter-today
ETH
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-ethereum-or-high-close-date-of-29-july-2017-or-enter-today
STEEM:
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-steem-or-high-close-date-of-29-july-2017-or-enter-today
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Booooring, I say BTCC ..or BCC, whatever bitcoin cash is trading under opens at less than $10 and sells down from there so don't say I didn't tell ya so now that you "had" a chance to major chachingo. :-)
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It is Friday, so its prime for a pullback at least. Other bizaar happenings are occurring too. I thought perhaps something was up.
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I saw quite a lot of red when I woke up in the morning.
Prices will probably not drop dramatically but as you said we may be up for a unpleasant ride.
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I'm still waiting for that perfect opportunity where I can short the crap out of this fake market.
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Thanks Greg.
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Upvoted & Resteemed as always. I support you completely and I spread your word through my Steemit account. I fully feel that people need to become their own Central Bank like you say.
Your the one that got me to become my own CB and to get involved with Steemit. Which were good calls I must say.
I am just sitting tight and when I see an opportunity, I pounce as one of your Lions!!!
Thanks for the update and the post. Look forward to a video later today.
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Greg no man gets it right all the time but you do get it right most of the time don't worry, cheers mike
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Well I am so glad I did not invest in Ebay LOL . Yes we could use a pullback but it is hard to read the tea leaves. You are so much better at that. Thanks for your wisdom and brotherly care to us.
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Can't get em' all right my brother though your track record shows most correct! I wouldn't think there would be a pullback just yet with the fed's dovish call on rates? I would think they'd go higher but in this backwards as reality we're in ....anything is possible. Much appreciated. There's always another day to gamble.
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I am right beside you on this decision. I am expecting something of a pullback but I feel like they want to take the overall market to unbelievably high proportions.
I am ultimately following the trend higher for now until we get confirmation that the market will flush.
Thanks for the update.
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I didn't get involved in that EBAY trade. But at least you admit you aren't perfect... Nobody is. I have had a short position open since Wednesday. I'm thinking about selling it, even though I am not up by a large amount. This is because I am expecting the market to rebound on Monday. What do you guys think?
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If Greg is right about his new SPY trade then EBAY will see a low lower than yesterday's low. Do you believe in Greg? Or yourself? I believe in Greg. I'd hold the short altho I wouldn't have personally entered any new short today in the general market. I did add to an oil short. But I just think oil, silver, gold, and probly other commodities will be getting spalunked here if the buy call on the dollar (UUP) I just spewed at my blog works out well. You ready, Greg? :-)
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Awesome blog! I will follow you.
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Thanks for the heads up Greg. It looks like it's reversing gears again though!
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This market is surprising everyone everyday. It pulls back and gets people to short it and then as soon as people short, it reverses and eats short sellers alive! And then it does it again. And again!!!
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don't worry, no one wins all the time
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As you say you can not get every call right, but you get a lot more right then I get. Thanks again for all your information.
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Any of you Lions or Lionesses out there...
There is a Cryptocurrency Challenge and there are 4 different Cryptos that people can bet on the Daily High for that day and earn 50% of the posts. (BTC, LTC, STEEM, & ETH)
@revelationquotes
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-bitcoin-or-for-high-close-date-of-26-july-2017-or-enter-today
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I am not sure about the trade against SPY just yet, we have an inside bar on the day so far, following yesterday's outside bar to the downside. The S&P is cracking, stochastics have negative crossover. A safer entry, but clearly less rewarding, is if yesterday's low is taken out, or if we see a bear flag form on Monday. But that is every trader's choice, this is great fun. As always thank you for sharing and introducing me to steemit.
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It could go either way but if it goes Greg's way he will likely have to act fast in selling his puts to generate teh gain. Markets are actually closer to a buy than a sell here...but a selloff is needed to generate a great buy opp..if that makes any sense atall to you. I doubt teh VIX trades much above 11.50 altho a move to say $13+ wouldn't completely shock me. VIX is coming back sub $10 again though...I think. :-)
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The DOW looks very strong as if it wants to run. Its the S&P and NASDAQ that look weak. Perhaps a pullback to the gap on 7/11/17 then upward and onward?
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I've been telling everyone that at this point you only need to watch 1 ticker as far as the general markets are concerned. The queen of the sexy VIXens. These party girls are about to go absolutely nutso. I'm just saying that if VIX, UVXY, TVIX, VXX...if any of them come up to you now and "act" like they are interested I promise...when you wake up tomorrow you will have a splitting headache...and a missing wallet. Do NOT mess with this gal unless you can handle it. Trust me on this guys.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=vix&x=52&y=18&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
Now I am in the process of getting a gal who is out of the wrestling weight class of most of you fellahs a date. She a tad overweight right now. This is the girl you want to get friendly with...Tessie. Don't wait until I have her looking like a movie star to ask her out. Please follow my Tessie diet...if for no other reason than to express "encouragement" towards Tessie. fat girls need love too. Don't ever forget that. As always, thank you for your support. 2 more upvotes and I can cover the tax on my fountain drink purchase at the local mini mart this evening. Vote once...vote often and as always! STEEM on! ...whatever to heyell that means. :O
https://steemit.com/tsla/@joejustjoe/introducing-the-tessie-diet-lose-80-lbs-of-ugly-fat-in-the-next-month
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So are you saying she is going to be a 400 plus pounder or if she loses another 36 lbs. she is dropping three dress sizes at 250?
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That was Tessie's entire journey there. She started my diet at 385+ lbs and I promised she'd lose 80 lbs in 1 month. She did it in like 7 days! :O So I set her free for a time but as I noticed her pushing 330 lbs this weekend I laid down the law on her. She doesn't actually know she's on the diet yet either so don't tell her. I put some of my "special" herbs into the second birthday cake she ett on Sat night. Shhhhh. Shooting for 280 but if she get to 250...she'll be at 210.00 like a greased pig on a water slide. :O Crap...I hope she doesn't read this.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=tsla&x=60&y=16&time=9&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
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I see where she went off her diet on March 31st so I guess that is her target weight.
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"Target weight" is nothing short of dead sexy. So any eligible bachelors here...better hurry....get in line guys.
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WOW, I've been followng you a short time and I did NOT expect an admission of a loss like this today (regarding ebay). It is new to me to hear a somebody with a large following admit a mistake. Obviously, this is Very Welcomed. Thanks.
Regarding your recommendations, are they applicable to small lion cubs in the stock market? I'm just starting with an online broker and currently no availability to options, short positions, or puts/calls?
I'm just a small lion cub in the stock market where I am just buying some blue chip stocks. Next, looking at some penny stocks in gold/silver mining companies.
I'm following you to gain knowledge, while I build a base portolio.
Again, Thanks for the Honesty, Truth and Knowledge.
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Ain't nothin' but a thang!! Your record far outstrips the others, we know the real deal so keep on leading!!
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You made a mistake??!!???!!!!
Well I guess your human after all!!! 😂
Everyone should know that playing the stocks are risky and nothing is guaranteed, other than silver is a hell of a buy right now!!
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Exactly. FED give a green light, but this market needs pullback. Trend is still bullish, we have no big election or anything in sight, but August is historically bad month, maybe now is the time for correction.
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Thank you for the update
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BTC going higher and the majority of the Altcoins are being beat down.
Sounds like a good opportunity to pick up on some Altcoins like LTC and ETH.
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No sweat, Gregory. Reminds me of a call an umpire made. After the controversial decision stood as called, an upset player yelled it was a wrong call. The Umpire responded, it was wrong, but he got the last 99 calls right. Even Professionals miss it occasionally.
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let it fall.. let it fall ..let it fall
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Thanks Greg. Sometimes I wish the whole thing goes down so we can have a reset.
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Don't worry its just a matter of time
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Expect Market pull back. Much needed pull back. More shiny metal on the way!!!!! :-)
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correction will be nice...lol..i have been waiting for it for too long
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This post has been ranked within the top 25 most undervalued posts in the second half of Jul 28. We estimate that this post is undervalued by $33.53 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jul 28 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
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I am your follower, and i saw your posts. you are doing good:) @ronaldmcatee
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nice post
thank you
upvote
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nice post thanks greg bro...
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