we're struggling a little to get this breakout move that I've been talking about most of the day, going. We had a reversal from the downward drift as expected, but it's really the breakout move that makes the set-ups work great, they can still work good, but I'd prefer great. Right now it's just watching the signals and seeing if I think the market can make it higher, my initial impression is it can make the breakout I talked about and in all honesty there's no reason for them to push the market higher (and they are pushing it, just look at the SPY Arbitrage), unless it serves a purpose and it doesn't serve a purpose unless it breaks out to a new high, even if just a fraction of a percent, it just needs to trigget the limit orders sitting above resistance and the BTCs up there as well.
I've been looking at some assets, I'm not going to say this is the exact area I'd take them, but put it this way, this is where I set alerts so when or if price hits the area, I can quickly look and see if there's a trade set up there.
The short positions include:
XLF>$21
AMZN IN THIS AREA OR ANY HIGHER AS MENTIONED EARLIER
GS> $170
GOOG> $910/$915, $930, $950 (it looks like a big range, but in percentage terms, it's not that big at all).
IBM. $195 / $200
XOM> $90/$92
NFLX>$310/$314.50
JPM >$54-$55
PCLN> $1,000
For some longs, especially if you are using long equity ETFs rather than options,
MCP<$6.80
ERY>$25.50
TLT<$102/$100
As far as shorter term or option positions or maintaining positions, I'll put those out as they develop. There are a lot more, but there are a few to chew on, you'll see why I chose those areas.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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