Comments on: Mid-session Technical Analysis & Trade Ideas 12-19-19

By: georgestreet

georgestreet — Fri, 20 Dec 2019 11:31:24 +0000

@rsotc If /Cl breaks down, do you still see XES and XOP following?

By: ds2000

ds2000 — Fri, 20 Dec 2019 00:43:00 +0000

@rsotc Please have a look at this weekly chart on TLT. Despite the bullish falling wedge pattern you discussed on the 60-min chart, this weekly chart has the makings of a sell signal with the bearish red candle breaking below the long term uptrend line. Your thoughts? Additionally, why over this last year does TLT strongly resemble the chart of SPY (steady uptrend) if it usually trades in inverse correlation to SPY?

By: ds2000

ds2000 — Fri, 20 Dec 2019 00:36:19 +0000

In reply to drummerdave. that's odd. I'm on Fidelity and it offered tons of shares for shorting. fwiw, I haven't taken a short position yet on TSLA. With the current strength in the market, and the possible desire of traders to see this up to Musk's now infamous 420 price, I'm gonna wait for a signal.

By: MattChartier

MattChartier — Thu, 19 Dec 2019 22:53:58 +0000

Hi Randy,
Usually /ZW & /ZC go hand to hand together, lately /ZC has been lagging alot.
In the video, you mention that /ZC is building a potential bullflag. Do you see /ZC catching up in the weeks to come. to his recent high (460ish)
Right now /ZW is challenging his recent high (550ish) and /ZC is about 21% away from his recent high.
I do understand that wheat is away more versatile than corn, and most US corn is used in Ethanol and animal feeding source.
Also i’m kinda afraid of the trade deal regarding AG commodity. We can see a big drop overnight if the deal fails or delayed.
Cheers.
Note : Corn Usage : https://www.iowacorn.org/corn-uses

By: goodkid43

goodkid43 — Thu, 19 Dec 2019 21:48:10 +0000

In reply to drummerdave. same here. and the put options are a bit too expansive too. I'm passing this trade

By: wilhud

wilhud — Thu, 19 Dec 2019 20:58:16 +0000

In reply to wilhud. Something more sinister ? I see Dow Jones Transports haven’t been participating in recents highs especially with Fedex yesterday. Canary?

By: wilhud

wilhud — Thu, 19 Dec 2019 20:40:03 +0000

Thanks Randy.
Can you take a look at banks? Showing relative weakness today in particular JPM and GS. Broken the very near term up trend which is unusual of late.

By: drummerdave

drummerdave — Thu, 19 Dec 2019 20:38:44 +0000

Of course, TD Ameritrade wont let me short TSLA. :[

By: preston_peck

preston_peck — Thu, 19 Dec 2019 20:20:23 +0000

I noticed that while gold was up today two silver mining stocks (FSM and AG) were each down 1.5-2% so I went long on them. Do you think silver mining stocks (or mining stocks in general) are a leading indicator for where precious metals will go or do they like to play catch-up?