My MTD gains stand at +57%, with YTD gains exceeding +120% and I am fully long with no short positions. Interesting, no? I only have two positions, which are FEED and LVLT. FEED makes up the vast majority of my portfolio, and God knows what LVLT is doing. Let me reiterate my $5 target on FEED right now, due to the 40 some e-mails I’ve received on it. Quit asking me “if I am still holding” or “if I sold yet”. I’m sick of it. I fully intend on making 100% on this stock inside my 3-week holding period.
Back to the market. The SPX has double MA support with the 100-day and 20-day MA’s sitting 2 pts below the close. Before shorting, I’d like to see a weak bounce and some all day flagging action. This will set up the market for another major move down. It all depends on what happens tomorrow, and possibly Wednesday, before I start scaling in short positions. Note that the wedge has technically broken down, but it’s all about the entry. Entry will depend on a neutral flag (developing between 830 and 850) that rides the 100-day and 20-day MA’s. If it doesn’t happen, then it doesn’t happen. If it does, be ready for it.
nice..thanks
like feed. but think i can get a lower entry when SPX closer to 810. this market is in no man’s land but Feed looks technically strong
Damn strong convictions. Considering that I’m damn weak and wobbly, I really appreciate that. Great indicators – thanks for the knowledge.
Hold the line. Do not waver.
Easy for you to say…
No. I have more money on the line on FEED than anyone here. If intraday action bothers you, then don’t look at it.
You have all your money in 2 stocks?
Fly, for fucks sake, be a bit more discerning when you pick your tabbers. So far Jake is the only one that has earned it.
The guy above is dumb as shit.
Trader,
Yes, dumb as shit.
Learn to read, start with CA posts, and youll learn John knows of what he speaks, excellent trackable history.
I second that.
CA,
I’m long FEED as well brother, I feel a fun ride coming. Great stuff on the charts man and cheers to the good year as well.
You see trader, CA pulls in what we like to call big-dicked gains.
Hey CA,
Maybe a dumb question, but why didn’t you choose to short when the wedge was broken on the downside (SPX)? I know you’re all in long on other names so you don’t have the free money to short right now, but it doesn’t seem like you would’ve done it in the first place. I’m curious as to how you’re picking your entry on this one.
wasnt breakdown on volume and sometimes wedge retests bottom trendline
CA, do you have a time frame/price target on FEED? TIA.
I see. So it’s more of waiting for a better entry vs taking the setup and seeing how it plays out. Which begs the question, when do you do that?
For technical trading, do you guys find it smarter to take all of your entries and exits based on your indicators regardless of how you “feel”? Or is do you throw in your own personal judgements?
Btw, thanks Josh.
There’s a better entry as this bounce, possible flag, develops.
Todd – I’d say I’m 70% tech 30% gut.
we could be forming a bear flag and 845 going to be steep resistance. should be noted we are in an uptrend day and i expect us to go above it. but its something to keep note. Watch the VIX and how the market handles it
notice the bear bounce we got at 845. i dont think it will hold as resistance. expecting up day tomorrow maybe and thursday down and friday top is reached. or tomorrow down thursday up and friday top is reached
The New FEED is RICK!!!!
Interesting. Good for $1.50. I don’t like the volume.
I know I’m still bitter about missing the move in FEED so I picked up a couple shares for shits and gigs but volume does suck.