DrStool Posted September 23, 2020 Report Share Posted September 23, 2020 The uptrend from yesterday's low looks solid, with a 5 day cycle projection of 3330-40. But first, trend resistance is suggested at 3316-17, and 3325-30. But even reaching 3340 might not give the bulls a victory in the big picture. Hourly: 2 hr bars- Looking at the lower indicators, the suggestion here is that this rally will take a day or two to top out. Finally, the 30 minute bars. 2-3 day cycle projection is 3330. But that cycle isn't cycling at the moment. We can see shorter and longer. That one is in trending mode. However, there should be a little downdraft to end the cycle later today. For the big picture, posted each weekend: Bears Have A Chance To Break The Market 2 - TECHNICAL TRADER SEPTEMBER 20, 2020 An important low is due right now but bears have a chance to break the market. This report shows you the setup and gives you picks to play both ways. Current long/short swing trade chart picks are up 6.9% (100% cash basis) on average, with an average holding period of 3 weeks. This week I added 3 short and 3 long picks. That leaves the list with 6 shorts and 10 longs. Technical Trader subscribers, click here to download the report. Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days! Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 In case you missed this last night, this is big. I received the email yesterday. 11 hours ago, DrStool said: Whoa. Bearish. Dear Client, As you’ve likely observed, elevated option implied volatilities indicate that the markets will be confronting elevated volatility both before and after the November 2020 election. IBKR shares that sentiment and believe it’s appropriate to start controlling leverage in a measured fashion in advance. Consequently, to protect IBKR and its customers, IBKR will increase margin requirements by as much as 35% above normal margin requirements leading up to the November U.S. election. To illustrate, consider a Reg. T margin account with stock XYZ having an Initial Margin requirement of 50% and a Maintenance Margin requirement of 25%. With the increase fully implemented, the new requirements would be 67.5% Initial and 33.75% Maintenance. Accounts subject to risk based margin will have their scanning ranges increased in a similar manner. This will be implemented gradually each day, increasing Initial margin requirements from normal levels starting September 28th to a rate that will be 35% higher by October 23rd. Maintenance margin requirements will increase in a similar manner between October 5th and October 30th. The new requirements will be implemented each day, after the market closes in New York, and will be effective the next trading day. IBKR may make additional changes to the margin on certain products, or all products, depending on volatility. This includes changes built into the standard margin model as well as any new house margin requirements that may be imposed. Interactive Brokers Client Services Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 When this thing unravels, SIPC won't save us, and FDIC won't save us. I believe that we already had a systemic failure in March, and it took $2 trillion of Fed printed confetti to reverse the implosion. I'm not sure the next one will be reversible. Where's Bob! Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 Roll over Beethoven. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 Infartion point Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 EIther they reaffirm the minor uptrend, or roll over. decision coming around the open. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 And the decision is... is.... is... Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 How do you pronounce the stock symbol EURN? It came up on my shortsale screens. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 One thing's for sure. Anyone who owns it already peed Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 Oop. There it is. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 Short the Golem. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 I have no idea what that means. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 I want to short GS but don't have the guts to pull the trigger to do that. It's like shorting the antichrist and being afraid of what will happen if they try to get even. Link to comment Share on other sites More sharing options...
DrStool Posted September 23, 2020 Author Report Share Posted September 23, 2020 Trend support around 3285 this hour. Link to comment Share on other sites More sharing options...
Jorma Posted September 23, 2020 Report Share Posted September 23, 2020 30 minutes ago, DrStool said: How do you pronounce the stock symbol EURN? It came up on my shortsale screens. I think you know the answer to that. Link to comment Share on other sites More sharing options...
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