Comments on: Trade Ideas & Market Analysis 6-3-20

By: rparksd1963

rparksd1963 — Fri, 05 Jun 2020 10:35:00 +0000

You continue to describe the market as a slow grind higher – it’s anything but. The S&P 500 has returned 37.7% over the last 50 trading days, making it the benchmark index’s largest 50-day rally in history.

By: habadasher0

habadasher0 — Fri, 05 Jun 2020 07:14:09 +0000

Has anybody looked at the ag security $UAN. It is a fertilizer manufacturer. After COVID-19 hit, it traded below $1.00 and got first notice of delisting by the NYSE. It discontinued last dividend and voted to buy back up to $10,000,000 of stock to get it back over $1.00. Last two trading days it has started to move. Now trading at $1.25. As I see it, the top of the current trading range is about $1.35. I am betting that it will break $1.35 and first resistance should be around the $2.00 mark. Next resistance as I see it should be the around the $2.50 mark.

By: Action_Jackson

Action_Jackson — Thu, 04 Jun 2020 12:20:30 +0000

In reply to dk. No it was not suspended. The stop loss was hit and Randy would have updated it if it was suspended. This is a risky counter trend trade so the stop loss needs to be respected. I closed out my position for a hefty loss. The bear market rally continues.

By: stillinfourth

stillinfourth — Thu, 04 Jun 2020 09:23:15 +0000

Randy, did you talk about the key 76.8% fibinocci retracement on SPY and the S & P? SPY just bounced off of it exactly at $313.22 and the S&P at about 3135. I got out of my SPY long and went short at exactly that level. So far, so good.

By: Fisher76

Fisher76 — Thu, 04 Jun 2020 07:44:35 +0000

In reply to becky. Does anyone else look at JO and see a potential head and shoulders continuation pattern?

By: becky

becky — Thu, 04 Jun 2020 07:28:13 +0000

Good call on metals and FX. /DX popped over night. Not sure how far it will go but I guess at least till 97 and change, bullish if it breaks. Sold silver miners in the past days. Wish I did the same with gold miners, left small position in KL backed by long puts and short calls.

/KC hourly has been dancing at resistance for the past couple of days, PPO is kind of turning around zero line, can it pop? Maybe if /DX keeps going up as you said there is a correlation IIRC. $JO daily PPO is still rolling down. Maybe I don’t see something, but my convictions aren’t too strong on what coffee will do next even if the level is objective to buy at. I am long DBA either way, but just wanted to share what I see on my charts.

By: Imadaytr8r

Imadaytr8r — Thu, 04 Jun 2020 04:43:10 +0000

In reply to dk. I finally gave up the ghost on that one ... bled out 33% loss cuz I didn’t let it breathe after Randy opened trade. Soooo, based on that disclosure I will be shocked if it doesn’t gap up tomorrow. I can’t seem to shake this pattern of either holding on too long or jumping out too quick. Painful

By: Shaul

Shaul — Thu, 04 Jun 2020 04:12:55 +0000

@rsotc Can you please update the "Active Swing Trades" ? its seams that some of them where stooped out on stop loss targets and they are listed as open trades

By: Shaul

Shaul — Thu, 04 Jun 2020 03:50:56 +0000

In reply to dk.

“The maximum suggested stop is a daily close below 134.9”
Long from about 177 , Close about 126 that about 40% loss

By: Shaul

Shaul — Thu, 04 Jun 2020 03:34:43 +0000

The entry for the IWM short was 139.89 and not on 145

By: rparksd1963

rparksd1963 — Thu, 04 Jun 2020 01:27:53 +0000

In reply to Pash. Shorting the S&P and QQQ for a year and a half in the face of the fed easing enough for you - rhetorical

By: dk

dk — Thu, 04 Jun 2020 01:23:32 +0000

Was the TVIX stop suspended?

By: Pash

Pash — Wed, 03 Jun 2020 23:50:14 +0000

My membership end on 8th Of June and I couldn’t wait for it…

By: Action_Jackson

Action_Jackson — Wed, 03 Jun 2020 23:25:17 +0000

In reply to Wall1000.

This guy spells out 3 scenarios of what is going on and it was written last week. I think they all seem possible and I have to be prepared for all scenarios. #3 could pan out and the divergent high keeps building until it pops.

https://stocknews.com/news/spy-inx-dia-iwm-qqq-what-if-i-am-wrong-about-bear-market/

By: Wall1000

Wall1000 — Wed, 03 Jun 2020 22:52:16 +0000

QQQ Feb 19th high, $237.47 today’s high $237.47. Double top or melt up?

By: Kostner

Kostner — Wed, 03 Jun 2020 21:29:37 +0000

Federal Reserve to buy Munis,Transits (Airports)and Utes and BTW. For those that have noticed Junk bond market racing higher the last couple of day’s courtsy the Fed via Blackrock, Also, if you have not noticed the ECB and Japan latest stimulus rollouts in coordination with each other in order to keep their markets propped.They are expanding their reach now and equities are more than likely next. They will do everything in their power to keep markets from collapsing..Trade Safe.

https://money.usnews.com/investing/news/articles/2020-06-03/fed-expands-municipal-liquidity-program-to-include-transit-airports-utilities

By: PGA Jim

PGA Jim — Wed, 03 Jun 2020 21:13:53 +0000

?SPX into last Nov highs.. lots of resistance from 3130 to 3144…