2023-02-23

Drag the blue slider to reveal the day's price action. Dots on the timeline represent comments and can be clicked. View the table below for all market-related comments and annotated charts (including those from after hours).

All Comments

Click to expand content and reposition slider.

13:34:06 Pete	CLICK HERE TO WATCH TODAY'S VIDEO
10:37:00 Pete	I still have my long on. Did not add. The high from Wed is holding so far. Very choppy price action. Long mixed candles and tails.
10:40:01 Pete	Just recorded video. MOS March (17) $49/48 PCS for $.20 cr. I like it. You could also consider buying small sz April (21) $45 calls for $.7.90. About $1 over parity. I like NVDA. More for day trading. ABBV could...
10:41:30 Pete	As far as the market, I want this support to hold while 1OP bear cycle completes. Then next bull cross should challenge the hod.. Need to hold this level. In general, price action today does not look great for a...
11:17:39 Pete	Volume is heavy on this drop. Gap fill and 1OP diving. Video is almost done. I will have to decide what to do with the 1/2 position. I am going to see what this bullish cross brings. If we don't...
11:20:10 Pete	Gap reversal has the momentum to test the 50-day MA and that looks very possible
11:38:48 Pete	That was a heavy volume decline and a gap fill. We are likely to drift lower and this is likely to turn into a bear trend day. I will take my lumps on this bullish cycle. I would like to...
11:41:22 Pete	We should expect this bullish cycle to be a bear div. The candles have been red with little to no retracement. Trend is strong. Favor the short side.
11:45:44 Pete	Just touched the 50-day MA and did it with ease.
12:17:55 Pete	I took this small half position too casually. "I like what I see so I am going to record my video." We have not seen any sustained moves so I did not worry about it. Now I am getting my...
12:42:11 Pete	Exit ES 3983 for 50 pt loss, but only 1/2 position so 25 pts
12:48:19 Pete	The last half of  this drop came on heavy volume and I am going to respect that. The temptation is to trade out of this, but I am going to keep my head down and resist. I have too many...
12:51:29 Pete	I have not seen this level of selling in at least a few weeks. Straight down, heavy volume and very little retracement. The first half of the move was tenuous. Lots of long tails and mixed candles. The second half...
15:00:38 Pete	No whining, no pissing and moaning. I discounted the chances for a big move today and I got what I deserved. The action does confirm my believe that the market is not going anywhere. Lots of volume and buyers and...
15:04:36 Pete	I plan to hold /ES long overnight. Bears have taken their best shot the last 3 days and support held. I believe buyers are going to take a shot.
15:05:34 Pete	Long ES 4017 1/2. This is a swing trade. I will decide if I want to add the other half near the close. I will let this bear cycle run a little
15:11:35 Pete	I did not make it clear, my /ES is a swing trade. Good likelihood I will add to it closer to the bell
15:27:03 Pete	Long ES 4022 1/2  ave 4019.50
18:15:52 Pete	DAY TRADING USING THE1OP INDICATOR
18:17:07 Pete	DON'T TRADE THE MARKET - TRADE THE EDGE
18:17:30 Pete	Those were the last two articles posted.
21:14:42 Pete
21:20:02 Pete	Traders remind me again what is not working? Everything we teach in here was working just fine. I took a half position because I was bullish. I got busy and I let it get away from me. The selling pressure...
21:24:59 Pete	Hari is bearish (I am not sure to what degree). I am neutral to bullish. We each have a market thesis that we can defend. It is healthy for you to see that process. He could be right and I...
21:29:39 Pete	There are going to be times when you disagree with the Featured Traders. You need to formulate your thesis and defend it. When you are wrong, you need to adjust your risk and adjust your thesis. I just completed the...
09:29:49 Pete	PRE-OPEN MARKET COMMENTS - Short and sweet. The market could not advance the last couple of weeks and it hit resistance. We tried the downside and found support above the 50-day MA yesterday. Big move Tues, flat Wed, today should...
09:30:30 Pete	Support is at the low from Wed and the 50-day. Resistance is at the high from Tues.
09:32:26 Pete	This type of price action is consistent with my thesis that we are not going anywhere. I will record a video in 30 min or so with price action analysis. I want to find another PCS (aka bullish put spread)....
09:33:28 Pete	For me to add to BPS, I need really strong stocks and I want the gap to hold during the first 30+ min.
09:35:53 Pete	Gap up thru prior day high after a compression. I covered this in the articles. Bulls want the high from Wed to hold. That is the first line of support.
21:38:10 Pete	In the last 30 years I could write down 30 things that were going to change trading forever. OMG, they are going to stop quoting in 1/8ths and use 1/16th. OMG, they are going to start quoting in nickels, OMG...
21:44:14 Pete	0DTE might have an impact. Like Hari said, the players are still figuring it out. There will be an edge that they find, they will arb it and it will close. For now it could be creating intraday volatility, but...
21:47:54 Pete	@Ruddiculous This is a tough market. Some days it is dead flat. Some days you get action like this. My plan is to focus more on longer term swings and I will be posting those. They are more neutral than bullish....
21:52:30 Pete	In the article I posted today I mentioned finding the duration that you are comfortable with. Where is your highest degree of confidence. Is it day trading, overnights, 2 weeks out, 2 months out? If you can't find a comfort...
09:53:08 Pete	That green key bar was an engulf. It is a sign that buyers are going to defend the gap. The high from Wed held. 1OP has room go go higher.
09:54:28 Pete	Long ES 4033 1/2.
09:55:52 Pete	Will add on follow thru. Going to record now. MOS is a fav long and I will look to sell BPS < 100-day MA