Comments on: SPXL Official Stops Hit, Price Targets Still Likely To Be Hit Soon

By: rsotc

rsotc — Wed, 20 Jan 2016 22:36:39 +0000

I’m very glad to hear that you had a great day Francesco, congratulations on those trades. As you’ve probably noticed, my trading style at times can be quite aggressive, often attempting to catch tops & bottoms. With that being said, while I enjoy & at times excel in catching falling knives, there are many times that I get cut doing so, sometimes badly (crude oil, as of late, has put a few scars on my hands).
I just wanted to share that for all who are not very familiar with my trading style as I believe it is important that each trader or investor pass on the trades that don’t mesh with their trading style or objectives (or at least, paper trade or use smaller than normal position sizes to adjust for the above average gain/loss potential). Again, congrats on a good day & best of luck going forward!

By: davenchop

davenchop — Wed, 20 Jan 2016 22:25:39 +0000

uncanny isnt it

By: Francesco Schettino

Francesco Schettino — Wed, 20 Jan 2016 21:52:39 +0000

Randy, I’m in awe how you called that intraday bottom. Simply amazing! I guess I would have had a good day regardless, but by drastically tightening the stops on all my remaining shorts when you made that brilliant call and by going long SPXL and TQQQ when you suggested, I ended up having an exceptionally good day. It just shows me how much I still have to learn. Thank you for your great work!!!

By: rsotc

rsotc — Wed, 20 Jan 2016 20:33:17 +0000

Thx lrehmer1965. Glad to hear that you stuck with it, heard from a few others that went long earlier today & are still holding as well. Barring a reversal & sharp selloff into the close today, we're looking at some very bullish price action today, with the flush-out intraday breaks below support followed by this impulsive buying so far & likely to close most major indices back on or above those support levels. (remember, it's the end-of-day closing prices matter when trading the daily time frames). Unless we get a big reversal in this last 30 minutes of trading (unlikely IMO), we're going to print some very bullish reversal sticks across the board today. Again, congrats on your trades & thanks for the feedback. -RP

By: lrehmer1965

lrehmer1965 — Wed, 20 Jan 2016 20:05:14 +0000

Thank you Randy, I sided with your gut feeling on this one so I stayed in the trade thru the stop. (I’m Long SSO). I agree with your thoughts and appreciate your honesty. You can’t hold everyone’s hand, only provide them with educated guidance. Awesome call again!