Based on premarket trading prices it looks like the last of the major indicies that need to put in final highs will do it today. At last week's market highs only the RUT remained with work to do. IWM should trade through the last remaining nonconfirmed high of 142.90. SPY and QQQ also ready to generate sell signals sometime shortly after the open so it looks like it really doesn't matter what the Fed does today with the Fed funds rate. U.S. equity markets are in for a major swoon here. IWM initial target is 134.65. SPY target remains 234.74 and the Q's 135.32. I will post sell prices for the SPY and IWM today sometime. I already issued a short and hold call for the Q's at 143.75 at my previous QQQ spew.
6/14/17 SPY, QQQ, IWM update
8 years ago by joejustjoe (48)
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- Past Payouts $0.04
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Time to leave the "scraps" for someone else as the Q's now break below 136.00. I initiated my "Q's trading" with a short at 143.75. I carried that over to this blog. I will exit that short at 136.00. that's a "nice" $7.75 in "cushioning" to work with against the new long trade I made. Nice werk if you can get it.
Banked gain of 7.75. New buy at 136.20 basically. Target of...you wait for the target. Or you make the call big shot. :-)
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Update: Sell signals triggerd on both the SPX and COMPX on the open. Still waiting on the RUT/IWM and I "expect" both the SPX and COMPX to at least retest opening highs.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=comp&x=40&y=15&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%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
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spx&x=55&y=12&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%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
Both of these chart patterns are "deadly"...confirmed tops at lower highs.
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Dead as TSLA at 382? Record after record after record high. Ever gonna cover those shorts from 200?
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Probly cover Tessie at $8 or so.
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Short term buy signal triggered in IWM which will likely lead to the final rally. IWM currrently trading at 141.25 so let's do a quick daytrade into the Fed announcement via the IWM 142.00 strike weekly calls that expire this Fri here at .46 market. These will more than double if I am correct.
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aww didn't see this post I would have went for it. Thanks for the QQQ trade making bank
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Keep holding til the target I posted gets taken out or I update but this entire shebangie won't hit the skids until the RUT gets finished off. COMP and SPX highs are in though. Now I doubt I can take care of it all until late tomorrow...ahead of Fri. :-)
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fucking qqq's keep rebounding back.
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I just told you my intentions. Don't fight "the" market! And as you already "know"...I AM the market. How'd ya like what I did to the silver bugs today? >>> "Woohoo! We're gonna be rich!".....doh! :O
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=slv&x=33&y=5&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%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
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yeah my puts expire FRI so I might take a hit if the fucking qqq keeps rebounding. Couldn't get back to Monday's low. fuck!
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Relax, bubba. First of all you "shuda" coverd the QQQ June expiry 138 strike putskis on the last move down. But even if you didn't, all I need is a gapup move on teh open tomorrow and by late afternoon you'll be GOOG to go. I'll make it a Fri to remember.
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Lower lows going to continue to produce lower lows in the goldies. The selling in the general markets won't be rectumfied until at least late afternoon. This time bank your short gains.
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Update on the Q's...for you's. This selloff today didn't breach the 137.47 low set on Mon. It will tho.
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Guess it was a blessing I didn't follow you into IWM calls for last friday. BAM to zero
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I didn actually play that IWM trade as there was no need to hedge a Q's short with a long. I was just posting the buy signal in "hopes" it would rally I guess. I'm kind of personally "trapped" into playing a VIX trade on a short term basis as my mistake at teh last high was waiting for an actual sell signal to set off that short term ass kicking. The Q's "shud be" a safe bet via the Sept 130 puts on the coming sell signal. I'll post that trade against teh guy who is just "guessing." I'm playing teh high payoff odds only. The SLV n GDX trades "should be" nice trades also but both can still fukk each other up like UVXY did today with the gapdown. Somewhere in the past I gave ya low end target for UVXY...belowst $9. It "might" just gt hit before complete crash and burn in the markets. You "shoulda" waited and not gone nutso. The idear is to place a very small bet for a big gain. What did the person who bought $100 DRYShits at 1.79 lose so far? What you waste on commish costs jumping in and out...that's what. :-)
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Still not seeing the jaw dropping shock and awe you been predicking for 14 months now. Actually had you just gone long back then on those there FANG stocks...you'd be rich. remember you said FB topped 121 and hated it at 115
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Actually, since I only play options predominantly call contracts on the FANGs would most definitely been at a huge premium on the FANGs so not worth the effort imo. Premiums are still too high but as soon as I finish off with the RUT I might give em a looksee. I'm still waiting for SIRI to trade above 5.57 as a new longer term short. I'm gonna take out Warren "the" Buffoon and Howard Sternum with the very first pullback. :-) Btw, any doubt in your mind now that UVXY "might" trade into the $8's like I said "might" happen? You were scratching your golden NUGeTs if you were overcome with anticipation. But at least it didn't turn into a complete ass whoopin this time. Look how much I saved you on DRYShits just in the last week! If you wuz trading it on your own you would have bot at least 4 times so far. :-)
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6/28/17 update: I haven't ad to update this IWM spew for quite ahile as the RUT/IWM has remained in "suspended annimation" over the past 2 weeks. Look at how close the compooterized trading wizards came to taking out hte high I said "must go" though...how did I know? :O
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=iwm&x=49&y=13&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
Pretty much so close to "gettin er done" that it makes me want to once again >>> Root for the RUT! If I can take out the high I know of at least one person who "might" stop whining...but I SIRIously doubt he will even if I do. :-)
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I will start a "mythical" $1000 trading account "if" the RUT highs get taken care of on this run. Otherwise I will continue to update UVXY, SVXY, SPY, QQQ, etc at my various other spews that apply to the general markets.
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3PM update: Looks like they won't even attempt to trade thru IWM 142.90 today. I wouldn't be surprised to see a gapup in IWM on the open if they just hold things in here for the rest of the day. IWM "hangin in there" at 142.00..ish....purt near spot dead on 142.00 actually.
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7/3/17 IWM update: I will continue to spew updates on the market index ETF's like IWM, SPY, and the Q's at this blog. Notice how IWM remains strong as the other majors falter. If this keeps up it will be the SPY and Q's playing ketchup. They pretty much are already as both set lower highs that need to get taken out. I'll post those targets as they are close to being breached. Gotta keep the handfull of people who come here "guessing"..else I don't have the advantage. :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=iwm&x=50&y=16&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
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Uso puts? Was that a real call or just forget about that one?
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I forgot about USO for now but I think I have til July expiry on it. It will likely pull a "UGAZ" :-) It has no idear which way it wants to go.
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I will log in a "hedge" long here now that the Q's has breached 136.25, the low remaining to get taken out is still 135.32 so this might be premature. Go in with a half position as a hedge. I'm going with the 7/21 expiry $139 strike calls here at .83 market as the Q's trade at 136.20..."live!"
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=qqq&x=61&y=13&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
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What the fark.....is IWM finished or what? Safe to short it or still need to do 142.90?
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Needs 142.90. The Q's are "strugglin" too. I figger my UVXY 8.55 target will be spot on. Patients, Dr. SPY real close tho.
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Actually, teh Q's is closer than I thunk. Already generated the first leg of the short term sell. Needs about 1 more point to 142.29+. SPY actually breached the lower high that needed to go. Just waiting on the sell signal.
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