7/14/17 I'm going to call the "crash and burn" top in the SPY
That way everyone who views this will "know" the 1 person on planet earth who did it. SPY will "likely" trade to a new 52 week high before the sell signal materializes.
That way everyone who views this will "know" the 1 person on planet earth who did it. SPY will "likely" trade to a new 52 week high before the sell signal materializes.
Update: First leg of sell signal now in as teh SPY trades at 245.15. Not even going to worry about being eggzacct. Logging in a trade via the SPY 8/18 $240 puts at 1.05 market.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spy&x=26&y=16&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
I was definitely a tad early on my SPY short entry but it will buff out nicely in short order. Markets are not going to top out today though.
8/4/17 update: Time to add to the SPY short via a shorter term trade using the SPY $247 puts that expire on 8/11. In at .58, just off the .54 low. The "live!" SPY chart.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spy&x=54&y=7&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
7/19/17 update...1:10 PM EST: Adding the timestamp to verify the Ty Ming of new calls. I will log all my trades once I am "unblocked" by steemit..."if" I get unblocked today that is. SPY now generating my short term sell signal as it trades at 246.70. I will log that in as my top call. Initial target is last Tue low just under $241. The option trade is still the SPY 8/18 $240 puts here at .69. Previous buy was at 1.05 on that contract.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=spy&x=41&y=14&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
7/20/17 update: SPY now at 246.52. I will cover at least yesterday's buy if teh SPY sees 246.00. I will post my exit "if" it happens...otherrwise hold.
8/11/17 update: I'm not going to add to my current SPY short via the 8/18 expiry putskis but just for fun since we now "know" the SPY will trade to at least 243.18, let's see what the SPY 244 strike puts that expire today end up at. Now at .23 market as the SPY trades at 244.54..."live!" Don't try these live trades at home sheeple. :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spy&x=59&y=7&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
Jeez, I just went to take a shit and these puts have almost doubled already. :O
3:30 update: Took too long to play out today even though SVXY and UVXY premarket targets were hit. Exit teh trade with a 20% gain in those $244 strike putskis...enuff to cover commish costs on a lotto ticket style bet.