Wine

I know, I know! I whine often about leaving money on the table.

However, it's a necessary evil.

I can almost guarantee that you will be a better price execution than I.

How do I know? It is my curse.

If you followed my crazy trade into TWM, then I hope you took profit above 28.

If you follow most traders, they take profits on dimes and nickels.

So why would you not take profit on 10 dimes?

Goldilocks got stripped today.


I will look to short NEM again. Cover above 54 or new high.


Also, take a look at DZZ.


ABX


I hope you know about Newton's Third Law of Motion and how it applies to trading.

Confidence

What my daughter wrote in third grade journal:

Confidence means to believe in yourself. If someone said that you can't do anything you can, you need to believe in yourself. Confidence means you trust yourself.

This is from someone who was just 8 years old.

There is fine line between confidence and cockiness. Know where the line is.



Would you be confident short or long the stock?

Disclosure:
Holding NEM DEC60p for 5.25 (not confident, bad buy)
Holding NEM JAN55p loaded some at 2.68 (more confident, double original purchase)

Key Levels to Watch in the S&P 500

Check out INO TV (see banner on the right).

It's not bad and it's FREE.

I get thrown a bone (mean I get paid) when you sign up.

Fair

In all fairness, I wanted to show you the results for today's scan compared to Friday.



192 stocks closed above 4-8-21 versus 13 from Friday.

Action

Action speaks louder than words.

There have been many speculations on the Dubai debacle. Some thinks it's over blown, other thinks it's serious. Bottom line, does it matter because action speaks louder than words?

I created the the following screen to determine the market action:


Don't worry, be happy, but pay attention to the market action.

Don't forget that Friday was a half day so volume was lighter than usual.

On the radar:
DZZ

UNG

Your Money & Your Brain

An excellent article to read.

Your Money & Your Brain

Laugh

Bears are having a good laugh on the Dubai default.

A few 2x inverse ETF's for you to stare at.

Sell #TWM for loss when #IWM close above 61.57.

Notice the OBV.

IWM


TWM


SDS


QID


DXD

22Watch

Two To Watch, get it? I was told not to quit day job.

Not exactly 2, but how about 2x3?




PCS Fib Chart

PCS Candle Chart

LEAP Fib Chart

LEAP Candle Chart


PCS and LEAP showed up on the screen: C gt O 4-8-21.
If you don't already know that that is, search the blog or leave comment.
I prefer PCS; however, the choice is yours.

Broken

zstock had a question about MOS from the technical alert a few weeks ago.

Here is the actual BEARISH alert and chart for MOS.
Do you see the pattern was broken?
Once this happens, you need to exit the trade.



Remembered the talk about H&S on SPX?
It reversed didn't it?
You wouldn't still be short would you?



Make sure you are going in the same direction as the stock.

Golden Cross 6 months After

I first blogged about the golden cross here



Take a closer look at the image. Historically, the 6 months performance after the the golden cross is 10.01%. The performance since golden cross on June 24 around 900 is 21.22%. The funny thing with averages is that you can have 30, 0, 0 and it averages to 10. Unfortunately, I don't have the data points.

So far, performance is 2x the average. Can it go higher, sure? At this point, I don't know if this is a new record performance or not because I don't know what the record is or was.

Just something to think about.



OBV is declining as price drop and volume is rising.

Option's VEGA

Put Strike Price / Stock Price 75.70

85 - Deep in the money
80 - In the money
75 - At the money
70 - Out the money
65 - Deep out of the money

SHLD previous close price = 75.77


Both Calls and Puts Negative


Huge drop in volatility



Definition of Vega from various sites:
optionstradingbeginner Vega
theoptionsguide Vega

This shows you how you can be right in the stock price projection and wrong in options price direction. Hopefully, I got this right.

See how I have always said data are not any good unless you can mine them.
Can you see the good and the bad?