DrStool Posted January 12, 2016 Report Share Posted January 12, 2016 Nice rebound. Fun with squeezing the shorts. It won't last is my guess. LATEST PRO TRADER REPORTS MARKET UPDATE PRO, MARKET UPDATE PRO DAILY Cycle Screening Measures Slightly Stronger But Does It Matter? by Lee Adler • January 12, 2016 Cycle screening measures were mixed at very weak overall levels on Monday. 5 of the 9 measures were stronger, but the increase in buy signals was very small. Most of the “improvement” came from the normal reduction in new sell signals that occurs as a decline ages. MARKET UPDATE PRO, MARKET UPDATE PRO DAILY Market Sets Inflection Point That Probably Won’t Hold For Long by Lee Adler • January 11, 2016 It’s not entirely clear why the market decline stopped where it did, but this is an important inflection point. There are clear targets for the next move if this does not hold. Link to comment Share on other sites More sharing options...
DrStool Posted January 12, 2016 Author Report Share Posted January 12, 2016 Start at the 15 minute mark. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Dumped the 1906 ES long at 1936 for +30. Holding the 1911 ES position. Moving stop to break even. No change in my QM from 31.275. Trade safe. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Looks like these knuckleheads are starting to get nervous. https://www.yahoo.com/finance/news/nigeria-says-couple-opec-members-072056359.html Link to comment Share on other sites More sharing options...
BreakOut Posted January 12, 2016 Report Share Posted January 12, 2016 Nice trading, Madness. Nice segment, Lee. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Think this bounce will go a bit higher than most expect. Will look to flip short for the March plunge. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Looking for 1960s... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Just tested the 5 dma. Good place to take some off the table. Link to comment Share on other sites More sharing options...
specie Posted January 12, 2016 Report Share Posted January 12, 2016 Lee, congratulations. You had one of the best outings on Max's show that i have seen. He's kinda difficult to handle always jumping in and redirecting his guests. You handled it very well. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Looking for 1960s... Updated. Not good. Can't hold the breakout. Link to comment Share on other sites More sharing options...
specie Posted January 12, 2016 Report Share Posted January 12, 2016 Not good.. understatement Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Wondering if we'll get a touch of 30 and bounce to form some sort of a IT bottom. Link to comment Share on other sites More sharing options...
Jetlag Posted January 12, 2016 Report Share Posted January 12, 2016 Good overnight trade on ES Madness. Every time crude rallies a couple of bucks it gets promptly whacked back to new lows. Smells like forced liquidation, although I think we're overdue for one of those rip roaring short squeezes, with all the investment houses coming out saying "you gotta short and stay short oil" and "it's going to 20". No doubt there's blood in the water and they're going after the long and strong Andrew Hall types and the USO retail lemmings. I sold my short too soon as usual but had a good run. Link to comment Share on other sites More sharing options...
MrHankydoesWallStreet Posted January 12, 2016 Report Share Posted January 12, 2016 Crude is gonna bust $30 today...trying to scalp with BIS sd the short squeeze fizzles... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 12, 2016 Report Share Posted January 12, 2016 Oil essentially crashed...and the industry is essentially wrecked for a number of years. Opec wants a bigger market share, they're going to get it but the problem is they'll also destroy the demand. You can't have it both ways. Link to comment Share on other sites More sharing options...
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