We continued working through a correction yesterday in the NASDAQ where sellers continued to their control. Their success in controlling yesterday’s auction can be seen in yesterday’s RTH market profile print. Assessing their control boils down to the following points:
Range extension lower
VPOC migration lower
Lower high and lower low
The positive news for longs is price has begun the pinball process of discouragement, where price is chopping around and taking no prisoners on either side. If my read on sentiment is correct, I will be looking for a higher low to setup soon on the NASDAQ. This may occur as soon as today.
The S&P has a very similar sentimental context.
Buyers came in overnight and bid the markets up a bit, but we are still trading inside of yesterday’s value, thus it has been accepted. Early on, I will be looking for sellers to reemerge and press price lower. I will be gauging their sentiment between 3465.50 – 3462.50. Should their pressure abate in this range, I will be looking for long exposure. Should their selling campaign continue, I will look for sellers to push into our 12/04 low at 3453.25.
On the upside, I will look for any signs of trade sustaining above 3476.50 our value area high from yesterday and also a low volume node left behind during Wednesday’s liquidation.
I have highlighted these levels on the following market profile chart:Twitter
shhh..don’t tell anyone, Sir Raul.
update on that degenerate scoop at $1.01
just locked in some more profit here Filled at $1.2801 (+26.73%)
size sometimes matters..;) ))
will hold 1/4 at $1.01 from 11/20/2013 (posted entry here)
did take profit this am on those $12.19..
from the spiral death scoop..remarkable, buy the blood, recovery. Yes..indeed.
remain long SRPT at $12.19
(I’ll most likely add back share/cost avg up on any correction)
making other adjustments throughout ports..have a great day all you Beautiful People.
Lol I’ll keep it on the d/l sooz
traded both a gazillion times along with my kindest pickr friend, kjp..
if he’s reading I send that little freak..big ((HUGS)) and cheer. Very much miss those days..
held 30’s core(after taking (+80%) off summer scoop) added 15’s and 13’s(on death spiral..and FDA news upset) with a final dbl position at $12.19…yes ideedy.
posting ‘ALL’ right here for ‘Them’ to read and laugh about..Bwahahhahaah!
This is where I differ in opinion from the pro(s) that find humor and call out the pitiful fools buying the blood..
Some of my most favorite trades have been very ((BLOODY)) and some were left for dead. Truth!
the best trades often fly in the face of recent market activity, I hold that trader credo close
11/13/2013 (last ins) SRPT
posted this entry here:
11/13/2013 TWTR TWITTER INC COM USD0.000005
11/25/2013 YOU BOUGHT
TWTR TWITTER INC COM USD0.000005
Status Filled at $58.17
Description TWITTER INC COM USD0.000005
Trade Type Cash
Market Session Standard
Order Date 12/13/2013, 10:13:07 AM ET
(liquidated that dead money Joes holding for a reason..ahhh YES!)
will hold position long at $38.888
so there, Mr Goldsocks..?
how did you like that SMOOoooth move..
(ala..Mr Oil, Mr P or possibly, today, the mayan man?)
should be noted I do remain long JOEZ (much..MUCH smaller position size)last entry posted at $1.03..
not planning to add back share at this time but will be sure to keep you posted if I change my mind..
FB sporting (+127.51%) as I Bang out this post..