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Msg  15522 of 15946  at  3/3/2021 9:03:39 PM  by

eagle76


 In response to msg 15521 by  leftyspade1887
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Re: Eagle

 Well its interesting...   As mentioned, my contrarian buy signals have closed and the market is confirming a pullback has started.   How deep, how long it will last, no frigging idea.

 For context, the NASD (QQQ) is down around 10% already..   The S&P (SPY) is just getting started, and interestingly, the small caps (IWM) is still effectively running in place.
 
  If I hadn't seen what is it now, 4 or 5 attempts for the contrarians to get some traction only to fail, I would be chasing this one a bit.  And will definitely be going after the IWM and volatility with fast option trades, maybe even let them run overnight if I like what I see..
 
 Futures are slight red tonight, so will have to see what it looks like in the morn..
 
 But to sum it up, it sure 'smells' and looks like something is 'on' to the downside.  I just have no idea how long it could go/last..
 
  So place your contrarian bets carefully.. (smile)
 
  Buy signals:   
  TZA:  big volume today, but only a 3% change..  but she sure LOOKs like it wants to go
   FAZ:  contrarian financial sector:  NO buy signal, this is saying, I don't know whats going on, but I am not participating either
   QQQ:  already in a 10% correction off its highs..  hmmm  SQQQ/TECS are already moving up in response to the QQQs falling
    UVXY:  made a little move today..  buy signal is closed, but not convincingly..  So FEAR is still abated (this could be a good play IF this sell off gets 'contagious')
    IWM:  has sell signals and it could be ready to drop next IF this move continues..  might be one of those you buy puts and see if you can hold them a day or two..  but its held up well so far
  IBB, XBI  dumping, picking up speed...  helps explain my baby bios getting clobbered..
  today.. 
 
  IF I was going to try a trade?  IWM puts, UVXY calls??    The hell of it is, gotten gun shy and instead of trusting the signals as they were hinting, missed a lot on the NASD side of things already.. 
    
    


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Msg # Subject Author Recs Date Posted
15525 Re: Eagle eagle76 1 3/4/2021 9:25:32 AM








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