Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Mar 4, 2019 2:59:24 GMT -8
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Post by audiosculpture12 on Mar 4, 2019 5:57:18 GMT -8
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Post by sponge on Mar 4, 2019 8:21:20 GMT -8
It was a rare move, but on Friday it appeared aapl brought the SPY up. Today it is trading much higher once again. I think we are setting up for a move towards 185 by first week of April. BALANCE OF POST MOVED HERE
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Post by sponge on Mar 4, 2019 12:24:46 GMT -8
Was able to get out of my SPY puts without much damage. Will look into rebuying them on Friday.
Then will transition to aapl calls next week.
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Post by rmhe1999 on Mar 4, 2019 14:03:12 GMT -8
The SPY brought us down. I had noticed a boatload of 270 puts trading yesterday. Looking into next week the SPY wants to slowly go down. We did not go above the 200MA and VIX is now moving up while oil is down. We should be flat for while from here on into next Friday. I believe the high of 175 yesterday will not be seen again for at least 12-16 months. But wait, I thought we weren't supposed to see 175 until February 2020? Now your'e switching to calls?!? *head explodes
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Post by sponge on Mar 4, 2019 14:07:41 GMT -8
The SPY brought us down. I had noticed a boatload of 270 puts trading yesterday. Looking into next week the SPY wants to slowly go down. We did not go above the 200MA and VIX is now moving up while oil is down. We should be flat for while from here on into next Friday. I believe the high of 175 yesterday will not be seen again for at least 12-16 months. But wait, I thought we weren't supposed to see 175 until February 2020? Now your'e switching to calls?!? *head explodes Market is very volatile and targets change. Post ER we now should hit 185. SPY went over 200MA stayed there. So yes I can change with maket. Still seeing 145-120 this summer.
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Post by rmhe1999 on Mar 4, 2019 16:46:23 GMT -8
Sponge, just poking a little fun. Seriously though, if the market is constantly volatile and targets constantly changing, what good is TA as a predictive indicator? I can see some value in short term predications (aka super low RSI typically indicates some near term upside, or a price bouncing between Bollinger Bands indicating a good entry/exit point), but as a long term metric for price direction? I guess I just never subscribed to its usefulness.
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Post by sponge on Mar 4, 2019 20:11:10 GMT -8
Sponge, just poking a little fun. Seriously though, if the market is constantly volatile and targets constantly changing, what good is TA as a predictive indicator? I can see some value in short term predications (aka super low RSI typically indicates some near term upside, or a price bouncing between Bollinger Bands indicating a good entry/exit point), but as a long term metric for price direction? I guess I just never subscribed to its usefulness. You are correct. We are just in a very strange market. So just trying to anticipate moves in both directions. Not easy, but fun never the less. In the end fundamentals are the main reasons behind the big moves in the the market. They are not very positive and aapl told us back in Oct.
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Post by zzmac on Mar 4, 2019 21:25:35 GMT -8
Was able to get out of my SPY puts without much damage. Will look into rebuying them on Friday. Then will transition to aapl calls next week. As a more famous prognosticator once said "May the fleas of a thousand camels nest in your shorts."
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