Supermacd Show full post »
Supermacd
At this time I recommend selling puts to get long while accumulating dips
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Supermacd
Pretty good short setup. I would say that 1 is a lock and I will reevaluate once it is hit

Q/M/W Chart
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Supermacd
it looks as if Iran doesn't really want to start anything or they would have targeted more than sand. They now must follow up this covert gesture with some very meaningful offers to negotiate their way out of 
complete annihilation.

I've added a slightly higher zone to look for the XLF to possibly begin to firm due to structure on the daily chart. We could get a significant bounce or a breakout move as yields might now begin to spike from here. Be prepared to fade the move in favor of treasuries if this occurs imo. 

D/65 min chart.
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Supermacd
Tomorrow you may want to reduce GLD holdings a bit
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Supermacd
We will still be looking for GLD $164 as our next and current primary target but we need to evaluate the action over the next day or so. My best guess is that it drops for a fresh bull setup.
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Supermacd
NOK Traders might want to reduce size here if they have a short time horizon or lack conviction.

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Supermacd
Longer term traders should still be in the accumulation phase
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Supermacd
See you guy this weekend. Probably not until Sunday as I am stuck painting our family room on Saturday. New furniture arrives Monday which means my excuses to put it off are now met with a mean testosterone killing stare  ÃƒÆ’ƒÂ°Ã…¸ËœÂ¬
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CMAC38
SM, hope all is well with you and you are banking green here in Jan.
VIAV touching 16 again today.  Thanks for the tip. Forming a nice cup.
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Supermacd
Hello Cmac, All is fine with me. I had to create a new spam email account in order to access the forum at a posting level. I always use a spam account to avoid the clutter of spam and built in tracking features of many sites. As far as trading goes I am still building a SPY short position by selling March $330's. 
People have been aggressively buying these at extremely high prices. 

I will begin to cover around the SPY $323 level. 

D/15 min charts
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Supermacd
March $150 GLD call holders will probably want to start looking to close any remaining position over the next week or two. Ideally it will go after $3.79-$3.90 but we never know for sure.
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Supermacd
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Littleshark
Nice SPY short strategy SM ...

I am playing a few Feb.21 $42 & $41.50 FXI PUT's now ,,, up so far ,,, booked some profit from $42 PUT sell of "buy @.57/sell @.81" to give me some downside protection room on the rest of the PUT's if i am wrong ...

... with the worsening Coronavirus situation in China and world wide ,,, I "expect"  http://schrts.co/gKzgxaAG FXI to drop to lower supports next week ~ i.e. RSI is my friend now ~ if FXI does keep falling Monday etc. ,,, I will make nice % gains ... if not ,,, I know all too well how to cry over loses ,,, sigh ...
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Littleshark
Nice SPY short strategy SM ...

I am playing a few Feb.21 $42 & $41.50 FXI PUT's now ,,, up so far ,,, booked some profit from $42 PUT sell of "buy @.57/sell @.81" to give me some downside protection room on the rest of the PUT's if i am wrong ...

... with the worsening Coronavirus situation in China and world wide ,,, I "expect"  http://schrts.co/gKzgxaAG FXI to drop to lower supports next week ~ i.e. RSI is my friend now ~ if FXI does keep falling Monday etc. ,,, I will make nice % gains ... if not ,,, I know all too well how to cry over loses ,,, sigh ...
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CMAC38
Makes sense SM, glad to have you back posting again.
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Supermacd
Shark, you'll want to focus more on the stability of the Chinese government than the corona virus imo. Very important to watch how the government responds as they are/will use corona to attempt at tightening their grip of the people. We are witnessing the very desperate and unpredictable death throes of communism in China.
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Supermacd
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