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Friday,November 16th

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  • Friday,November 16th

    https://finviz.com/futures.ashx $es_f $nq_f weekly chart both still in red zone with big red candle and 5ma pressuring down sharply, Friday's close gonna be critical. even Friday concluded w/ big green candle, next week still chance see a dip for weekly bottom above 60ma & cloud top. ES 2711 NQ 6816 both key.

  • #2
    KEY for LT investment is VALUE (indicated by growth AND potential) plus timing. many ppl would jump in use all their $$ planned for it. but that's dead wrong strategy. when establish LT positions, first entry always 1/3-1/4 max. if drop, see if key support holds. if ok, more in.

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    • #3
      Looking to enter a gold short ,WHEN /gc reach 1230$,STOP LOSS 1240$

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      • #4
        https://pbs.twimg.com/media/DsEsvC9WkAU_PSa.jpg:large

        Going to be a lot of focus on this being an inverse H&S bottom for #stocks. Possibly, but I favor the count where we have one more retest or new low to come in December. $SPY $QQQ
        POLY.

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        • #5
          Got a few 168$ QQQ NOV23 CALLS at 9.46 a.m.

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          • #6
            Not much interest jumping in trades today. Many names may see ups and downs into next week. Premiums gonna change big this pm. Size your plays or just sideline watching. Next week more exciting after premijms down.

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            • #7

              Looks like a short term bottom is in,bounce for 2-4 days.I added more QQQ 23 NOV CALLS at 10.10 am.

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              • #8
                I would guess that today's gap in GDX is going to get filled sooner rather than later. I am also going to guess, based on past chart patterns, that the 100 dma is going to stop this rally and price will head back down to the 50 dma, and thereafter bounce between the 50 and 100 dmas as they continue to converge. Could it be that easy to trade? Maybe.

                One last note--it's possible GDX is forming another little inverse head and shoulders similar to what played out between mid August to mid October,

                Click image for larger version  Name:	Screenshot_2018-11-16 GDX - VanEck Vectors Gold Miners ETF.png Views:	1 Size:	57.4 KB ID:	387344


                Last edited by Spanky; 11-16-2018, 11:13 AM.

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                • #9
                  Futia:

                  http://carlfutia.blogspot.com/

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                  • #10
                    Alex:

                    https://chartfreak.com/2018/11/huh-o...omething-oil/#

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                    • #11
                      For entertainment purposes only...

                      Note: I think it is quite possible that instead of breaking out above the 200 dma as shown below, price heads back down to touch the 100 dma one last time--it should be a fairly scary drop, maybe just below $19, before rebounding and never looking back. That is actually the scenario I think is more likely, I just forgot to incorporate that into the chart below. Once the 50 crosses above the 100 dma, the 100 dma is going to become the line in the sand. I would not want to see price stay below that MA for more than 2 days in a row (i.e., the candle body doesn't touch the MA for two days).
                      Click image for larger version  Name:	Screenshot_2018-11-16 GDX - VanEck Vectors Gold Miners ETF.png Views:	1 Size:	63.5 KB ID:	387349

                      Last edited by Spanky; 11-16-2018, 12:29 PM.

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                      • #12
                        Chris Ciovacco Retweeted
                        Urban Carmel‏ @ukarlewitz
                        2h2 hours ago

                        October industrial production +4.1% yoy; manufacturing +3%. Both at 10-yr highs. Not recessionary

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                        • #13
                          GDX is going to be untradeable for the next couple of months IMO. I'm pegging the next major low to occur in early to mid February and it could take price sub-19 one final time. If you are biased towards the long side, I would just say buy any touch of the lower of the 50 or 100 dma and cross your fingers.

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                          • #14
                            I got one small oil contract today /qm at 56.50$,STOP LOSS 55$.May rally to 60$ at least.

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                            • #15
                              Joseph Fahmy‏ @jfahmy 38m38 minutes ago

                              When this correction is over, there will be tremendous opportunities. You can already see the stocks that literally want to explode higher when any little pressure is relieved off this market. I'll discuss more in this Weekend's Market Video.

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                              • #16
                                Brandt:

                                https://twitter.com/PeterLBrandt

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                                • #17
                                  Parets:

                                  https://twitter.com/allstarcharts

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                                  • #18
                                    Originally posted by Spanky View Post
                                    For entertainment purposes only...

                                    Note: I think it is quite possible that instead of breaking out above the 200 dma as shown below, price heads back down to touch the 100 dma one last time--it should be a fairly scary drop, maybe just below $19, before rebounding and never looking back. That is actually the scenario I think is more likely, I just forgot to incorporate that into the chart below. Once the 50 crosses above the 100 dma, the 100 dma is going to become the line in the sand. I would not want to see price stay below that MA for more than 2 days in a row (i.e., the candle body doesn't touch the MA for two days).
                                    Click image for larger version Name:	Screenshot_2018-11-16 GDX - VanEck Vectors Gold Miners ETF.png Views:	1 Size:	63.5 KB ID:	387349
                                    If the SM crashes before the year is out could be seeing fireworks much sooner.

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