- more weakness this am...
- added a 4th NQZ09 contract at 1708.00 to my discretionary swing long position...
- this brings my 4 contract avg to 1735.06...
- offering out 1 contract at the following levels: 1733.50, 1745.00, 1757.50, 1767.50
- no bids at this point...
- my 'Halloween' systemic trading model is scheduled to generate a long entry signal for today's close, so i am reserving some buying power for that...
- XLF showing rw, SMH showing rs...
- i have been adding to my discretionary swing long position in the FAS...
***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...trade at your own risk***
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I think we bounce as well, still possible to see another 5 points down or so but the risk is definitely to the shorts given the oversold internals, some divergences and the tightening of price around these levels. The late shorts will get squeezed in the next feel days I think.
ReplyDeletePlus, I know not to go against the ‘Gopher’ :P
Have a good trading day.
good trading to you too mvw...
ReplyDeleteES is moving down to its trendline on the daily chart...
last few days of oct thru the first few days of nov tend to be bullish, which is the basis for my 'Halloween' model...
my 'SPY Gopher' model is also based on the tendency for end of month strength plus a few other things...
my models and bias have me heavily long...
this move down in the market is a little stronger than i anticipated...