Comments on: Swing Trade Ideas & Key Developments 10-20-23

By: budgetny

budgetny — Mon, 23 Oct 2023 11:31:52 +0000

Good morning Randy. We closed right on the Q’s .554.70ish support. I covered at that support level as I am trying to book profits. Looks like the overnight markets decisively took out the support. If we don’t get a pull back to the 354.70 level, where would you would see another objective short entry? Also, could you post some NQ and ES charts? Thank you

By: tom99577

tom99577 — Sat, 21 Oct 2023 19:21:05 +0000

Randy, shorts have worked nicely, thx. If you get a chance would you mark up an ES chart?

By: Imadaytr8r

Imadaytr8r — Fri, 20 Oct 2023 18:27:47 +0000

Also, you mentioned a 5.5% money market at the end of the video (yes, I watch your entire videos on 1.5 speed ;-) … Anyhow, BKLN, an Invesco Senior Secured Debt ETF is paying an 8.5% Dividend right now. Any problem parking funds in that product vs a 5.5% Money Market? Thanks

By: Imadaytr8r

Imadaytr8r — Fri, 20 Oct 2023 18:12:29 +0000

Hey Randy, have any thought on BOIL (NATGAS). My stop at 59 got jumped overnight and sold at the open at 57.90. I don’t have big enough accounts to trade futures. Thanks

By: rsotc

rsotc — Fri, 20 Oct 2023 16:51:09 +0000

In reply to Mikeflegel. GE is trading below the 107 support although not by a large margin nor an impulsive breakdown so while a case could be made to short it, a break below today's lows would increase the odds of the trade playing out.

By: jmcolli07

jmcolli07 — Fri, 20 Oct 2023 16:49:35 +0000

In reply to rsotc. I asked a few days ago about how you use it in your strategy if you do. Seems people use it different ways and also look at different ones. I would like your thoughts on it's relevance and how you use it.

By: rsotc

rsotc — Fri, 20 Oct 2023 16:49:28 +0000

In reply to Heinz.

GBTC (Bitcoin Trust) just rallied into key resistance on my daily chart so let me look at the charts of Bitcoin (crypto) & /BRR (futures) as well as Ethereum & I’ll LYK if it looks like time to get short. I have a Dr appt this afternoon so might not happen until next week but pls bump me if I haven’t posted any updates on crypto.

Thx for the article, I’ll check it out asap.

By: rsotc

rsotc — Fri, 20 Oct 2023 16:45:52 +0000

In reply to jmcolli07. Yes, 353ish is big support on QQQ IMO. What is the question regarding the P/C ratio?

By: Imadaytr8r

Imadaytr8r — Fri, 20 Oct 2023 16:34:30 +0000

In reply to shannonp. SQQQ is how I short QQQ. Also, VXX has worked good this week as well. Good luck!

By: Imadaytr8r

Imadaytr8r — Fri, 20 Oct 2023 16:31:59 +0000

In reply to jmcolli07. Got down to 354.60 a few minutes ago and now it’s just went back above 356. … sitting at the bottom of the downward channel since 373 so it’s going to be interesting. I don’t see anything positive happening over the weekend unless Peace breaks out in the Middle East, we get a House Speaker, or Ronald Reagan returns from the dead to fix everything like he did after Carter!

By: Mikeflegel

Mikeflegel — Fri, 20 Oct 2023 16:26:32 +0000

Randy. G e broke below the 107 today. Can you take a look at that one.

By: Heinz

Heinz — Fri, 20 Oct 2023 16:21:47 +0000

1) Randy, Here’s an article about systemic problems with liquidity in the banking sector, which confirms what you are seeing in the charts: https://www.saferbankingresearch.com/article/Liquidity-Is-Still-An-Issue-For-Our-Banks-202310201125.html

2) Crypto typically follows the NDX, but recently has been relatively strong. Is this a lagging sector that will catch up the decline in Tech– providing a good shorting opportunity?

By: jmcolli07

jmcolli07 — Fri, 20 Oct 2023 15:39:02 +0000

If we could revisit the put/call ratio question I would appreciate it.

I think everyone is quiet waiting for the 353 price level to be taken out on QQQ. Buyers have stepped in at this level for months now. Waiting to see if we will break it.

By: shannonp

shannonp — Fri, 20 Oct 2023 15:38:53 +0000

Glad I took your advice and stayed out of the market for a week or so. I don’t know how to short the market.
Oct 6th, I bought NQ puts for the first time and got stopped out. I didn’t even know what time frame to buy, but just tried buying 1 contract to learn.