If you weren't short going into the market today, you did not read the market properly. It was pretty clear.
If oil drops a tiny bit further, there's another resistance point. It's an important one.
The SPX closed under 2038. The dancing got a bit too wild today.
Remember, during the last market downturn in Jan2016, many of you guys were still trading long. Once again, I repeat...exercise patience and stick to the technicals as you do not want to get caught long when the market tanks this time. I'm only trying to help.
I sold my position today for a good gain. If you want to stay in this long-term and believe in Ackman, then you may do well in the long-term; however, as you may already know, AGN is working on generics for VRX's drugs; and so, that will eat further into future market share.
This one may turn out to be a long-term turn around story. I would rather not stay long stocks at this risk/reward level even though VRX was at an incredibly attractive price point when I first entered the trade and some would argue that it still is very attractive. I agree but I decided to lock in this gain.
I will keep this one on my radar. Good luck with VRX and thanks again.
Oil broke through the first resistance point on the downside. We are flirting with another resistance point again. Let's see if it breaks down or bounces.
The market hasn't closed yet. Once the market closes, we'll be able to see exactly what resistance points were compromised to the downside.
If oil doesn't bounce back from this level, consider your indicators gone until the next resistance point which is just a little lower. The upside is that there are lots of resistance points on the way down.
Keep an eye on China's outflows and dwindling reserves and the devaluation of their currency as a crisis is already brewing in China. When it takes fold, their market and ours will tank hard.
Bill Ackman is on the board now. He will do whatever it takes to push the stock higher considering what he has at stake. I had started a tiny position in VRX. I already have a decent profit on a percentage basis.
Thanks for sharing this one.
Apple stock almost always gets battered once the event gets started and news comes out about what's next for Apple. So, timing is important today if you are still enjoying the run-up to the event. The stock will likely sell-off after the event produces some news (good or bad).
How much longer do you think the rally will last? It has become long in the tooth.
It broke through a tough resistance point on the downside. We have a little more pain to come before the next resistance point.
In the short-term, we are approaching a major support level and I would expect it to bounce off that resistance level soon. From here, it may take a few dollars lower to hit that resistance point, but it will likely bounce in the short-term.
No one knows where it will go when the market tanks though.
You may be swimming in oil right now having a goody-old-time, but make sure to keep your eyes wide open so that you don't drown. Oil should continue going up in the long-term, but it is close to hitting a few resistance points in the short-term.
Well, as you know, when the market is up, volatility almost always goes down.
When volatility goes up in an up market, that's a warning sign that points to a possible turning point. A few more trading days may give us more clarity.
This is a fake AEA id. The information is accurate though. AEA is the king of Caitlyn trading.
When the market truly crashes, you'll see the real AEA disclose these trades.
If the stock market extends this recent rally for the next two weeks, chances for a rate hike come Mar 15 - 16 go up drastically. This stock rally has been fueled by short covering rather than new stock buying for the most part.
Typically, we tend to sell off going into a FED meeting where there is another possibility of a rate hike. I am leaning towards the market selling off in the coming weeks.
For the next big sell-off, let's try to be short the market rather than wait on the sidelines for entry points. We can gradually cover our shorts as the market tanks lower and lower and then finally go long when the time is right.
What are your thoughts?