The shooting star candlestick pattern is what I’m talking about.
What we have here is a possible mini- confirmed shooting star reversal pattern. Again, this is not a sure thing but merely suggesting a possibility.
With another possible reversal pattern (my speculation only) on the general market, I took profit on my WYNN while it was still trading above $103+ and will look to buy it back at cheaper price if I can.
Below is the daily SPY chart. Perhaps, this time the correction will happen?
Of course, I bought starter position on TZA once again. No SKF this time since it doesn’t move that much compared to TZA. And I also short AAPL with put options. I think AAPL is ripe for short right now. Technically speaking, AAPL has a Bill William’s Bearish divergent bar today so I went ahead and short it now instead of waiting for tomorrow to take out today low.
Good Hunting!
ps. Forgot to mention that I also sold my AIG I bought back this morning due to the development of a Doji bar. I don’t like Doji bar at the top…
Currently I only have TZA and my LT equity with 85% cash.
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In some SSO puts. Add it all up, SPX looks ready to give up 50 in a hurry to me.
Perhaps, this time around, we will hit the jackpot? Good Luck!
PCLN getting blowtorched AH 620
Ouch!
LOL 590.
All gains from June 4 – POOF!
PCLN down a hundred in AH !
—
Merciful Heaven !!!
😯
.
With hindsight, I bought the wrong put option…
I moved my stop to breakeven after market open; needless to say, my stops got filled.
Flat on TZA.
Trading journal update:
Covered by AAPL short (sold my put option) for losses. Apparently, AAPL is not ready to roll over yet and I’m not going to fight it. But will watch for next opportunity to short again.