Counter trend trading? See Monday morning's post...
BMO – ES +3.00 and NQ -1.25 futures are mixed about 20 minutes before the open in pre-market trading and point to a flat to lower open…
TLT is up 2 cents and the Euro is down 83 pips in premarket trading and is nearing horizontal resistance …
NDX leaders GOOG is higher in pre-market trading…AAPL, AMZN, BIDU, NFLX and PCLN are lower…
Look at URBN which is lower on heavy volume in pre-market trading…
Dave’s Insight for Tuesday: The broad market is still in short term consolidation. Continue to follow your rules, look for breakouts up or down, support bounce and divergence entries and enter when you see the signal…
SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,311, 1,300, 1,281
Quoting Down – CMG, , NFLX, URBN, ICE, WLT, VECO, CRM, IL, ARUN, LDK, GS, FAZ, CAT, ATW, QCOM, SRCL, AAPL, FFIV, NTAP, BIDU, APOL, LIFE
3 comments:
from Steven R. to All Participants:
What is going on with NFLX?? I just got stopped out of my stock position and my Bull Put Mar 200/205 is in the max loss zone today ... The stock was $245 a couple of weeks ago on an analyst comment.
I don't want to panic and exit the vertical. NFLX could EASILY go way over 205 and put me back into max gain
TOS Live News: NEW YORK (Dow Jones)-- Warner Bros . said Tuesday it will begin offering select movies through Facebook , a move that will enable the social networking giant to compete in the online movie rental market. [ ie: NFLX ]
This may be one of those situations where I have to rely on Dave Johnson's quote: "A successful trade is any trade in which I follow my rules" (NOT a trade on which I make money). I did everything right, but stuff can happen from when you enter a trade and expiration.
THANKS !!
Steven R.
from Steven R. to All Participants:
Gorgeous pennant on the SPX at about a 50% retracement level (at from where I started Leo Fib.
Steven,
Just a reminder...
Plan the trade..trade the plan.
Trade the charts, not your emotions.
What was (is) your risk?
Did you exit as planned?
Are you turning a trade into an investment?
News does not change the overall trend.
What are the first four letters in Analyst?
Good Luck!!
P.S. I exited my NFLX calls today.
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