Comments on: Near-term Targets & Scenario For Stock Indexes

By: salapati2

salapati2 — Fri, 12 Jun 2020 16:25:03 +0000

Thank you for timely analysis yesterday and today. I was able to nail profits on my trade cuz of your great on time analysis. I played both ways yesterday and today. Sold my calls for small profit this morning after your analysis. I bought some SPY shorts today. Do you think i should hold on to them or sell them? They are not in profit yet. Thank you.

By: rsotc

rsotc — Fri, 12 Jun 2020 16:04:32 +0000

In reply to PWL. Correct. I just fixed the typo. That was supposed to be "... a solid break above 307.20.." since SPY had been testing the 307.13 resistance level all morning with a few pops slightly above it. Hence, the ~7 cents buffer for a margin of error to minimize the chance of taking a breakout that proves to be a whipsaw signal.

By: pmtob

pmtob — Fri, 12 Jun 2020 14:49:28 +0000

Hedged my small amount of long term bags with SPY share shorts on the break below 307. Not looking to make a killing just don’t want to be punished again like I was yesterday :D

By: PWL

PWL — Fri, 12 Jun 2020 14:37:48 +0000

In reply to PWL. I think he mixed the 2 numbers up and meant: I would give about 60/40 or better odds that a solid break above 311.30 will trigger more upside to the 317.20ish gap resistance (which is where gap is from 2 days ago).

By: tracyren98@hotmail.com

tracyren98@hotmail.com — Fri, 12 Jun 2020 14:14:08 +0000

Sold spy at 308

By: HS

HS — Fri, 12 Jun 2020 13:56:05 +0000

In reply to PWL. Perhaps he meant 307.20

By: herreradamian54

herreradamian54 — Fri, 12 Jun 2020 13:54:08 +0000

In reply to PWL. Yea i think he did a typo confused me for a sec

By: PWL

PWL — Fri, 12 Jun 2020 13:48:32 +0000

@rsotc: did you mistype wrong number 317.20 (did you mean a number lower than 311.30) here? I would give about 60/40 or better odds that a solid break above 317.20 will trigger more upside to the 311.30ish gap resistance