Wednesday, November 2, 2016

going long again for tomorrow UPDATED (Now it's a sell signal)

Update, it did take a lot, but it changed.  Still a few minutes left.


Last night's long was a minimally bad trade.  It looks like we are getting a similar set up today. 

Assuming today stays negative, this will be 7 consecutive down days.  I'm reading that the all time record is 8.  We are very near what I perceive is the lower bound I talked about in another post today. 

Especially lately (until this string of 7) getting more than 2 days in the same direction was very rare.

When saying how many days the election is, why does everybody subtract one?  Today it is in 6 days, I read 5.  Yesterday it was a week away, I read 6 days. 

At the moment, we have a buy on both systems.  It takes a lot to change the signal without going into a new bar, and we are at the last bar of the day, so it will probably finish a buy.

Also, I'm glad I was away when the major low today was formed.  I'd have probably panic closed my calls.  Fortch, I didn't know it happened until it was too late to panic.

4 comments:

  1. Waited until the last seconds and got filled on SPY Puts. Will be an interesting morning. Wonder how much "news" will come out overnight? Crazy times we are in.

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    1. I ended up staying long. Mostly because I think the whole 7 days of consecutive losses is the maximum. Still, it won't go above the line I've been posting about. You can never be 100% about the future, but I'm as confident as is possible.

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    2. I was thinking that until EOW the down trend will continue but what you said about 7 consecutive days it's interesting.
      anyway I think the trend is still down at least until the election.

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  2. Well...Wrong again about the open, but the SPY puts became profitable. Lines call for a bearish open on Friday. Could have sold during the last half an hour for a 27% gain, but decided to let it ride.

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