2022-11-10

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08:27:55 Pete
08:32:55 Pete	This is going to be a wild day.
08:36:22 Pete	That SPY strangle is going to pay off huge.
09:14:39 Pete	PRE-OPEN MARKET COMMENTS THURSDAY – The election results point to a Republican House and control of the Senate will require a run-off in Georgia. In general, investors prefer a balance of power and that outcome is likely.The market is focused...
09:19:07 Pete	Today I am going to do something that I have not been able to force myself to do in the last 30 years. The temperature is going to be 75 degrees today and 35 degrees tomorrow. I will be around...
09:20:38 Pete	I know I am going to miss a great trading day, but there will be others. Very hard for me to say that.
09:34:34 Pete	A very common pattern for these monster gaps up is a "gap n go" with follow thru for an hour and then a tight compression. I hope I am wrong because that is a very tough pattern to trade.
09:37:36 Pete	Nice first candle is long red so we at least get a little time to evaluate. If the first 3 bars are stacked and red, that would be bearish and a sign that we will fill more of the gap.
10:00:32 Pete	You can be long here. The bid was tested briefly and we are going higher. 1OP continues to climb
10:01:34 Pete	This market move might only last another hour, but there are sectors/groups/stocks that will grind higher all day.
10:10:54 Pete	Hariseldon wrote: Profit taking is my biggest concern here right now Yes and SPY is right at the 100-day MA
10:12:32 Pete	We also have a big spike in 1OP. Good to be cautious. Also a small bear hammer off of hod.
10:17:28 Pete	We want to attack these major resistance levels like we are. If we keep pecking at it eventually we will retrace and then take a running start at it. If you have a stock on a major breakout on heavy...
10:19:59 Pete	Be mindful of "Fed speak" today. I am expecting those comments to be a splash of cold water (... "this is just one data point and we still feel the need to tighten").
10:25:25 Pete	Here's what bulls want. A compression near the hod while 1OP is in the bearish cycle. This would be a sign that the next bullish cycle will push us through the 100-day MA. I am not seeing the stacked green...
10:37:27 Pete	From a swing standpoint we need "escape velocity" from the 100-day MA. It will be a magnet. If we easily clear the 100-day MA today you can take some overnight longs. Do not load up. As I mentioned earlier, the...
10:42:26 Pete	In the short term (today) the best profit potential is on a reversal where some of the gap fills. That would spark a big move today. If the market is able to get above the 100-day MA we will drift...
10:47:38 Pete	The market gave us time to evaluate. We are sitting right at the 100-day M
10:48:50 Pete	We will know one way or the other soon. Use the 1OP cycles as your guide. Trade well. Can't wait to see all of your winners when I return tonight.
10:50:10 Pete	Watch for that compression at hod (no big red candles or retracement) during the bear cycle. If we get that we are going to take out the 100-day MA