I’m obviously deep rooted in market behaviors and patterns. I wrote about this recent price actions comparison to August-September of last year earlier this week, and today is a critical day.
In the final leg lower in late September, take a look at the following price action:
Here’s a comparison of the last two months of price action:
A comparison worth noting, IMO.
OA
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I sold FCX calls. Gold and TLT may have peaked here — RISK ON!
If TBT isnt a buy here I will eat a small piece of my shorts. XBI looks good too.
I will perform autofellatio should market prove me incorrect
Aggressive
OA – Are you still holding PAH ? Ive missed the past few AHWOA
Sold it the following day. I mentioned it in my morning post that day.
Damn it. I had a stop order at 6.70 that didnt go in for some reason. This is what happens when I trade on my phone. Tax season is joyful
Heavy duty UWTI position at 1.19. Also picked up SN
WING with the relative strength and sentiment look.
I closed my SPY shorts. The daily oscillators (CCI/ stochs) are close enough to oversold. Going to see what market does today + maybe tomorrow too before entertaining longs. Leaning towards entering Tues.
What just happened in bond land?
Last guy boarded the ark.
Risk on!
Great stuff, OA. Much appreciated.
Well now, perhaps there are rational people who do not want to loan to our gubmint at ridiculous rates. ..
Been waiting for some divergence; oil, usd/jpy, iwm, etc. Thing only thing I see is some nasdaq strength here. Dipped my toes, but am skeptical, and keeping it small. Live to trade another battle.
I’m holding some MNST 120 March puts, purchased around $135 when you posted the blog on MNST. Would you sell here based on the charts above?
Tough, tough call. Hold here if you think the market will bounce. if not, Next stop is $90…then $70.
The bond auctions went down similar to this in January. We didn’t bottom till 1/20.
As of 2:30 today, the front month /CL contact moves to April. Couple that with the story about Phillips 66 puking back unnecessary oil and anything can still happen.
All I did so far was sell a small TLT at 135.15 ahead of the auction.
Still scoping out the macro themed JNK/HYG shorts.
Long dated calls on $HYG are at 12-13% implied. That’s a sweet deal.
Next rally, then, if it comes. Thanks OA
I know guys out there shopping the same deals. Distressed credit has decent upside from here.
Zero Hedge has got to be right every once and a while.
bond bulls getting greedy..gold bulls getting greedy..stock bears getting greedy.
i’m just gonna leave it at that…
Just swept the leg… bear trap on false breakdown?
oil for the save? Who saw that coming?
they don’t want oil goin belolw 25…evil things happen under that lvl
its time to turn off the spigots people
It’s hard to buy when the market corrects.
It’s easy to buy when the market is screaming higher.
I’m buying.
I am just a buyer, I’ve never sold anything. I just buy all the way down and hope I die before I have to sell.
Although I am not a trader, i love ibc’s saltiness in a sea of drab.
You have the look of an “L.O.”
Not sure what that is. I am a big Macke fan. I blame that.
Likewise. “L.O” = Long Only.