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aussiebear

World Stock Markets Trading Discussion - Jiggling jello

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A rollover at or below 2737 would be a huge failure.  Dropping below 2720 could trigger a rout. Conversely, clearing 2737 would likely lead to a meltup. Big move coming, either way. Stay tuned. 

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A couple days back while me thinks stocks like AMZN are in a massive bubble and could lose 90% or more AMZN 200 the drop from 2050 to 1485 was fast and a bounce was due.  

Now a stock like WDC when it hit 40 and change was trading @ 3 times TTM earnings with over a 5% yield.  Dare me mention a good spot to pick up a few shares.  

Problem is the so called index leaders are so grossly in a bubble that it makes it hard to buy a stock like WDC for any length of time hence the trades from 41 - 44 range....Now closing in on 46 me has no position.

Long UVXY@59.75

Added to TZA@11.05 average sits @11.20.............

Looks like a great ramp and camp and distribution....

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Look at these moves in the last couple days only:

WDC 40+ to 47 a whopping nearly 20%

AMD 16+ to 20 another whopping 20%

AMZN 1480+ to 1625 "only" 10%

TSLA 260 to 345 nearly 40%

Many similar Doc major bottom of a temporary correction or one fantastic drop into the claws of the Bear.

Bear with with

Added UVXY@58.05 average sits @58.75

 

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It's like everybody knows how critical the 2730 area is.  Who blinks first? The shorts or the longs? 

 

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Looks like the buildup has taken too long for this 2 and 5 day cycle. Time wise this favors cycle high, not a breakout.  

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They've been buying the bonds since this morning too. I don't think this is sustainable on two fronts. Something's gotta give. 

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THere's the 2 day cycle initial sell signal. Below 2729 would be confirmation  signal. 

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