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DOW 23,000+ today?

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Grant 302

basic and well known psychic
Cashed and rolled for more spreads. (sold ITM puts for OTM puts and calls and cash) Volatility working in my favor right now. Up or down makes money. Bigger moves are better.
 

Grant 302

basic and well known psychic
Volatility paid all week, and it was a nice move Friday to close both the week and month. To me, this is pretty clear that there is room to move forward from here.

Talking with some of my investor/trader friends over the weekend, many are wary and are broadly exercising caution. One that I respect a lot as a swing trader is sitting 100% cash. Moments like this are the *best* time for a break-out to the UP side. Right now the market has been consolidating and honestly, I don't see the big downside. News is focused on all manner of distractions and reasons for the various moves, but when it is all said and done, the market will soon be 'done' with prices at this level and must move on outside of this range. Based on my casual polling, many investors have their bear hats on. When that happens, the market will make them all wrong...and up we will go. The dip in December was enough of a test to the downside and officially in the correction percentage magnitude.

We're starting both a new week and a new month. Watch with interest and don't be surprised if we hit new highs within the coming weeks or months...without another big drop in between.

Insert usual disclaimers. And "Don't sue me bro." :D
 
Players beware!!! It's April Fools day........Maybe for a reason......................By the way I just finished putting the blower on my Boss...................and the wheelie bars are an added touch......:rolleyes:...This parachute is a dickens to get installed................
 
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Good work. I think my LRCX shares are probably priced at this point, so today's action was appreciated. (+5.69 / 3.18%)
 

Grant 302

basic and well known psychic
I hope you get the 'discounted' purchase price!

----

Yesterday was looking like a 'back n fill' day. As well as this morning's dip.

I *think* the volume traded at this level is essentially done. Time to test the previous highs again and looking for a move to new territory. The December dip helped 'prove' the balanced market and 'acceptance' of these price levels. For those with more technical understanding, look at a Volume by Price indicator or Market Profile type indicators if you have access to such tools.

In general, I'm pushing protective positions pretty far out of the money (around 24k levels for now and move higher as they get cheaper) to keep hedging costs down and will be using profits to increase up side leverage. Targeting 3x+ percentage gains.
 

Grant 302

basic and well known psychic
My targets *IF* there is a breakout to new highs:

Dow: 29,600
S&P500: 3,250

I'm thinking in the 5-9 month timeframe would be reasonable. After Summer, later this year.
 

TymeSlayer

Tramps like us, Baby we were born to run...
3,787
2,740
Exp. Type
HPDE
Exp. Level
3-5 Years
Brighton, Colorado
Thinking of shifting a third back to cash in the next week or so. I think the profit takers are lurking in the shadows. Lotta news built into the market too and my gut tells we a mild retreat is coming.
 
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Thinking of shifting a third back to cash in the next week or so. I think the profit takers are lurking in the shadows. Lotta news built into the market too and my gut tells we a mild retreat is coming.

With this bull market long in the tooth, I suspect S&P will see an exodus as it approaches 3k, probably starting after passing September's high.
 

Grant 302

basic and well known psychic
I think that's exactly why it'll go higher. Lots of sellers gonna get left behind initially and will become buyers again when there's momentum to chase. This is a big reason why markets 'jump' between price levels.

Still looking strong despite Boeing weighing things down a bit.
 

Grant 302

basic and well known psychic
Start of the break-out is pretty clear looking at S&P500 or SPY. Expecting new highs in the coming weeks.

I'm not buying it, but Boeing looks like the floor/support may be pretty well set. 4 tests on the daily charts...looks good to me. Just interested in how it affects the DOW. And shows why I wouldn't short it after the news hits.
 

Grant 302

basic and well known psychic
S&P 500 and Nasdaq rally to record closing highs

I know that's not the DOW, but the prediction is essentially the same for S&P 500. DOW won't be far behind time wise. Broad sentiment will shift bullish for the near term as new record highs are achieved.

Always nice when it happens while on vacation :D

 

Grant 302

basic and well known psychic
Good way to kick off the month. DOW laggards still weighing the index down a bit but markets certainly comfortable with new highs with the S&P. Still expecting the DOW to follow.
 

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