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Seriously though, it's completely normal to backtest after a turn. Not to say it can't fail (especially with external factors), but we are looking for it to backtest and hold before a move higher. Taking out yesterday's lows would pretty much panic the markets. We just want a higher low put in...

https://en.wikipedia.org/wiki/Germanwings_Flight_9525

Oops! https://www.bloomberg.com/news/articles/2022-01-24/small-fry-traders-saw-massive-selling-binge-before-stock-rebound?srnd=premium&sref=9HT8lz40

Crypto bounced because the stock markets have. Plain and simple. There is no technical reason for any crypto relief today, other than stock market bounce. Until some specific coin has a catalyst for a real move higher, they're bound to market moves for the time being.

Eh, @Sanrith Descartes you definitely hold your own here. I always listen to what you and Blazin have to say. Your advice is absolute bedrock foundational trading for 99% of the people in this thread.

As an active trader, this doesn't have to be the big reversal to go back to trend. This is all about scaling in, positioning yourself big enough at the right time(s) for upward moves. SPY

@Blazin What gave your conviction this was the bounce? What was your QQQ entry point? My last big SPY add was 428 on the big vwap reclaim before we rocketed off.

Fairly shocked how close the SPY got to the 200D just before the close. What a fun day to watch unfold.

Props to @Blazin for seemingly nailing this bounce. Lets all just hope it sticks.

MOC 2B buy side. Get wrecked bears

Fuck yes, it is hot garbage on Mac. I use Parallels to use a few legacy Windows programs. That is exceptional VM software. You can literally swap back and forth and literally copy paste between the two OS. You can see your mac desktop items on your windows desktop, etc. It's exceptional. If...

Feeling pretty good. Went from a largely cash position early this year to about 73% into the markets as of today (scaling major MA / support pivots) in key stocks and indexes over the last weeks of market selling. #feelsgoodman Now someone please tell Putin to calm his tits.

I typically give anything Seeking Alpha a pass. I did at least google who this guy is. Fairly interesting: https://en.wikipedia.org/wiki/Jeremy_Grantham#Views_on_market_bubbles_and_the_2007%E2%80%932008_credit_crisis But he basically says he can identify when bubbles are present, but never...

Are you implying the cash you needed on a house deposit in the immediate future was out there in the stock market? That's not really ever a wise choice.

From this: To this:

MTTR is getting tempting down here. But I'd prefer to see a bottoming of market before going into longer term growth names.

Grabbed SPY, JPM, NVDA, and a few more MSFT today.

Both SPY and QQQ at some support here. My BP is going down. 40% cash left.

More of this wont help either: https://www.wsj.com/articles/russia-hatching-plot-to-replace-ukraine-government-u-k-says-11642890601?mod=hp_lead_pos3

AAPL earnings will have a pretty big weight on the indices. Remember in December AAPL just kept powering onwards and upwards? These were the headlines at the time: https://www.bloomberg.com/news/articles/2021-12-02/apple-tells-suppliers-iphone-demand-has-slowed-as-holidays-near?sref=9HT8lz40...

Talking trends: Previously, we had almost perfectly timed monthly dips (often timed with options expiry) and in days would recover and continue to new highs. First change in the trend was September. We dipped far harder out of channel and took far longer to recover, hell the first bounce was...

Closed on the lows with some big volume (options expiry). Let's see what next week brings.

1B MOC sale.

I always keep a chunk on the side for short term opportunites. Maybe we get the Fed surprise with a .50 interest rate hike opener, or Russia gets frisky with Ukraine. Might not happen, but I want plenty of dry powder ready to fire if either happens.

FWIW, I'm still 60% cash shopping for bargains. (Was 85-90% since sentiment shifted)

Sound reasoning behind this. Remember a month or two ago I was linking Apple news when the stock was irrationally ripping higher. This was in the wake of Apple themselves reporting reduced iPhone demand. Then reported chip issues across multiple products. Then a supplier reported they had halted...

I think market looks fairly precarious here. We are near day low and drifting below 200D SPY. Next support is a fair bit away that I see. All seems compounded by the fact this would be the first breach of the 200D since pandemic lows in spring 2020 bringing more fear driven selling. With...

Where's @Shonuff when we need more Tom Lee "everything rally" CNBC videos!

TradingView is fantastic. (Desktop app version is better than their web platform). I know plenty of day / swing traders using it. For the price, I think it's the best value for money out there. This is especially true if you grab their BlackFriday deal where they knock about 60% off annual price...

Lowered guidance though

I’m in Italy on a business trip for a month. Pretty shitty timing, but I’ve got a huge cash pile ready to go to work. Got some orders out there based on the SPY 200D. At this rate I feel we will overshoot the QQQ 200D. As always, I’ve got some cash leftover if we see even lower!

PTON carnage. "Halting production due to waning demand." Yikes.

With that kind of close, I am expecting a gap down tomorrow. You will likely get a better fill !

We're working on taking out yesterday's SPY low. This is gonna be a fun ride.

These market bounces are getting weaker and weaker.

Thing thats really annoying is I took a lucrative 1 month contract gig with my old company and flying out to Italy on Thursday. Seems like the worst possible timing. I am going to have to just put some orders out at levels and see what happens.

Considering QQQ hasn't seen the 200D since March / April of 2020, I think blowing that far below current 200D would be very very extreme. I think tech would catch a fairly significant bid coming into the ~365 level. Ukraine kickoff being the exception.

QQQs pulled into the big 370 pivot and held for now. Tomorrow could get quite interesting. Think theres a decent chance of seeing a down open with QQQ into the 200D.

SPY testing the 100D again. At the same time newswires put out a WH comment about Ukraine situation being "an extremely dangerous crisis. Russia could launch an attack at any point". This is tough trading here!

So, this is where I really think we test the market. We backtested the Jan10th SPY low, which was essentially right on top of the 100D support. We have bounced markedly here, but the question is how much? The fact we have tested these lows so quickly (8 days) is bearish in itself. The question...