Comments on: Swing Trade Ideas 8-30-23 https://rightsideofthechart.com/swing-trade-ideas-8-30-23/ Stock Trading, Investing & Market Analysis Wed, 30 Aug 2023 21:46:04 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29246 Wed, 30 Aug 2023 21:46:04 +0000 https://rightsideofthechart.com/?p=212271#comment-29246 In reply to AP.

Yeah, I went to cash overnight. Will just hit day scalps until this sorts itself out. Will keep an eye on option pricing.

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29245 Wed, 30 Aug 2023 21:45:17 +0000 https://rightsideofthechart.com/?p=212271#comment-29245 In reply to AP.

Haven’t heard the term “smile” before but that might be what it’s called. Yes, OTM calls are priced higher than OTM puts which means market makers are putting a premium to the upside. Usually means higher. I’ve never seen it this skewed on NDX or SPX before. Last large skew like this I saw was on gold back in October. The December and January calls had big upside skew and gold did end up rallying during that time.

]]> By: AP https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29243 Wed, 30 Aug 2023 20:00:53 +0000 https://rightsideofthechart.com/?p=212271#comment-29243 In reply to Scott.

I am out, I don’t have margin for this lol

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29242 Wed, 30 Aug 2023 19:57:00 +0000 https://rightsideofthechart.com/?p=212271#comment-29242 Chart setup looks very bearish to me. Option skew is crazy bullish. Good luck everyone lol.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-41319200-1693425380_255-444444.png

]]> By: AP https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29241 Wed, 30 Aug 2023 19:55:28 +0000 https://rightsideofthechart.com/?p=212271#comment-29241 In reply to Scott.

Just read about it. Thats a “smile” right? Meaning big Out of the Money calls are heavy…?

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29240 Wed, 30 Aug 2023 19:35:14 +0000 https://rightsideofthechart.com/?p=212271#comment-29240 Heads up. I just noticed there is MASSIVE call side skew on QQQ and SPY. The largest I’ve ever seen.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-31179700-1693424058_233-5555.png

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-36072600-1693424058_233-6666.png

]]> By: B-Right https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29239 Wed, 30 Aug 2023 18:53:53 +0000 https://rightsideofthechart.com/?p=212271#comment-29239 On the EUR/USD chart, the divergence was burned thru on the RSI (at DH3) but there was divergence on the PPO.

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29238 Wed, 30 Aug 2023 18:29:40 +0000 https://rightsideofthechart.com/?p=212271#comment-29238 Biden administration is blocking NVDA chip sales to the Middle East over China concerns.

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29237 Wed, 30 Aug 2023 17:58:01 +0000 https://rightsideofthechart.com/?p=212271#comment-29237 In reply to Jeff Vandenburgh.

Good catch there

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29236 Wed, 30 Aug 2023 17:30:05 +0000 https://rightsideofthechart.com/?p=212271#comment-29236 Proof. Again. Hopefully for the last time. Commodity ETFs and indices have decay.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-63451100-1693416551_wheat66.png

]]> By: Dkpdkp https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29235 Wed, 30 Aug 2023 17:28:27 +0000 https://rightsideofthechart.com/?p=212271#comment-29235 Hello Randy- I don’t think I’ve ever seen you cover Lithium stocks- do you have any measure of them? Most are at yearly lows-thanks

]]> By: KevinK https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29234 Wed, 30 Aug 2023 17:26:22 +0000 https://rightsideofthechart.com/?p=212271#comment-29234 In reply to Scott.

Any little pullback will be met with a stampede of “buy the dippers”.
We’re going to new all time highs….only about 6% away.

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29232 Wed, 30 Aug 2023 17:14:44 +0000 https://rightsideofthechart.com/?p=212271#comment-29232 Randy. For the last time, WEAT, DJP, and other commodities will probably never get back to their 2008 or 2012 levels unless there is a major catastrophe. They have “carry” costs built into those ETFs and indices (aka futures decay). It costs money to store raw commodities, hence, cost of carry expense is built-in. It’s like saying UNG is someday going back to $200. It’s not going to happen unless the world blows up.

]]> By: Jeff Vandenburgh https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29231 Wed, 30 Aug 2023 16:53:59 +0000 https://rightsideofthechart.com/?p=212271#comment-29231 In reply to Scott.

I’m looking at HYG unable to breakout as an indication that this rally may be running out of steam in the short-term. If and when HYG does breakout, that will be a nice tailwind for a rally in equities up toward all-time-highs.

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29230 Wed, 30 Aug 2023 16:46:53 +0000 https://rightsideofthechart.com/?p=212271#comment-29230 60 min chart. We already have one divergence signal. Waiting on the second to be confirmed.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-35918200-1693413963_60minhhh.png

]]> By: Scott https://rightsideofthechart.com/swing-trade-ideas-8-30-23/#comment-29229 Wed, 30 Aug 2023 16:42:20 +0000 https://rightsideofthechart.com/?p=212271#comment-29229 You not seeing this inverse cup & handle? This still looks very, very good to me for swing shorts.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-32568100-1693413673_1140-55ds5s.png

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