Today's Intraday Tech Reversal Caught Me By Surprise. By Gregory Mannarino
What a day.
Today's stock market action (with respect to the tech sector) was certainly not how I expected the day to progress.
At the market open it seemed that cash was making its way, at least just a little bit, back in to the tech sector however as the day progressed a strong reversal took place. (This goes back to my premise of why it is so important to watch your trades closely, be ready/have them hedged, and think about closing them if they go against you).
For now I am still holding calls on Facebook, and Apple as posted on my website TradersChoice.net click here: https://www.traderschoice.net/money-page--stock-picks.html however, I did open hedges on these positions. I outline how to hedge your positions in this brief, click here: http://www.lulu.com/shop/gregory-mannarino/options-trading-a-simple-effective-way-to-hedge-your-trades-includes-a-new-technical-trading-system/ebook/product-23108108.html
Personally I am going to be watching my current trades and the tech sector very closely, as I did not like the intraday reversal in tech.
It is certainly possible that I dead wrong about a rotation back into tech in the short run however, I will continue to watch for a reversal.
Gregory Mannarino
We need a world without $$$ where people are good to each other.
Greg any news on gold and silver they seem to be getting a good spanking
I am getting set to do a video blog on that now. Will be out soon. Thanks.
Sound, cheers for your reply
Yes. It would be great to hear from Greg what he thinks of the current price moment of gold and silver. Today is just another bad day for me.
I think he's about to do a video soon
Wish you good luck!
It is difficult to predict a manipulated market, even for a master such as yourself!
Can turn on a dime. Need nerves of steel sometimes, it is not easy. Many times traders get caught on the wrong side.
Not only that, look at this spike in the Q's. Anyone that sees this and STILL thinks the entire markett is not computer controlled would be better off not even trading the markets at all. :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=qqq&x=60&y=12&time=2&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
Jamie Dimon and Llloyd Blankfein "probly" visit my blog just to see what I am saying...so they had the guy handling teh compooterized QQQ trading account do that spike just to try and screw me up. Not a chance, Jamie. Your going to jumpf too when I'm finished with you, Lloyd. :-0
Joe you are 1000000000000000000000000000% Correct.
Funny, spekkin of the HUI. Can anyone tell me how an index like that can stay "logged in" at the current 181.65 area like it has been for an hour now?
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=hui&x=62&y=11&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
No way...no how. "Manipulation?" Looks more like somebody is worried about getting their ass kicked. The guy handling the HUI trading machine is on the brink of getting fired...Donald Trumpf style. Go ahead Mr HUI trading wizard...make the exact wrong move. He'll amke the wrong move either way, Greg. that clown is just plain skeeerd shitless! :-)
Btw, I already have the words Trumpf dumpf and jumpf copyrighted...in honor of our great President. You can "borrow" those words. I won't take bitcoin, STEEM, or ANY of that shit when you come and ask me for permission to use them though. Better cash in crypto for dollahs becuz when Jamie Dimo actually does jumpf as a result of the GRRREAT Trumpf dumpf...one bitcoin will buy you lunch..and that's about it.
Still, is it "manipulation" or just a normal course of things? My opinion is that there is no manipulation...just compooterized trading idiots making mistakes via their compooters. As I said earlier, you need to look not only at what you intend to trade...but other indicators that are giving clues that "maybe" what you are seeing in your trade vehicle of choice is off in your assumptions. Here, I just put this up...this is a good example. I want to add to my GDX long...butt! Look at what else I take into consideration first.
https://steemit.com/gdx/@joejustjoe/physical-gold-is-for-suckas-buy-paper-gold-here-s-why
Thanx for the report... the market is fickle! JMO
Thank you
And don't forget the bond sellout. It is frightening... Bonds and stocks are selling off, while the dollar got strength... Somebody is flying out of the U.S. right now and it's a big player.
i understand that sometimes the market goes a different direction. Thanks for having our backs. We love you man.
Greg, I am betting that this is just a blip and that you are correct with your tech positions. We will see! @marketreport
Thanks for the update, i like that you tell us both sides and the ups and downs. Thanks Greg, your lions appreciate you!