johnpaulca
12,036 posts
msg #132620
- Ignore johnpaulca |
11/18/2016 3:03:28 PM
SPY....now in oversold area, lots to short in this overpriced market.
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Walid
130 posts
msg #132623
- Ignore Walid |
11/18/2016 5:24:11 PM
You mean over bought.
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johnpaulca
12,036 posts
msg #132625
- Ignore johnpaulca |
11/18/2016 5:31:39 PM
Thanks Walid...time for a coffee.
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pthomas215
1,251 posts
msg #132628
- Ignore pthomas215 |
11/18/2016 6:58:27 PM
Get some Tim Horton's to go, eh?
Short SQQQ @13.65. Thinking Nasdaq will be up on Monday morning at least.
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johnpaulca
12,036 posts
msg #132629
- Ignore johnpaulca |
11/18/2016 7:08:08 PM
pthomas215
393 posts
msg #132628
- Ignore pthomas215 11/18/2016 6:58:27 PM
Get some Tim Horton's to go, eh?
Short SQQQ @13.65. Thinking Nasdaq will be up on Monday morning at least.
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I was also thinking of shorting SQQQ...that's a sound trade...glty!!
I did have Timmy's coffee (:
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johnpaulca
12,036 posts
msg #132635
- Ignore johnpaulca |
11/20/2016 1:11:17 AM
SQQQ....just had a good look at this, I believe this will rocket somewhere around Christmas. QQQ's still lots of momo for now.
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pthomas215
1,251 posts
msg #132637
- Ignore pthomas215 |
11/20/2016 10:26:21 AM
I think you are right. However my conventional thought is this. I think we are going to see a pullback for the next couple weeks, which is where SQQQ would escalate pretty good. Nasdaq has been at all time highs recently. Then around December 15th or so I expect to see a Santa Clause rally. If your retirement account is in equities, it might be a good time to push it over to bonds for a few weeks.
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pthomas215
1,251 posts
msg #132641
- Ignore pthomas215 |
11/20/2016 5:37:47 PM
The U.S. Dollar Index (NYSEARCA:UUP) is breaking out in a big way, and hedge funds have piled back into long exposure.
Stocks
I was expecting to see hedge funds massively adding to their longs in equity futures this past week. Surprisingly enough, they actually closed out of some longs and added to new short exposure in the Nasdaq (NASDAQ:QQQ).
Everybody's still bearish on the Nikkei (NYSEARCA:EWJ).
Hedge funds exited some of their shorts in VIX (NYSEARCA:VXX) futures.
It should be noted that hedge funds are pretty bullish on S&P (NYSEARCA:SPY) futures. This level of positioning has previously marked short-term tops.
Conclusion
Three things:
Bears are back in WTI crude futures
Copper is an extremely crowded trade on the long side
Sentiment is a mixed bag in equity futures. Hedge funds got more bearish on the Nasdaq, but are still quite long the S&P 500
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pthomas215
1,251 posts
msg #132642
- Ignore pthomas215 |
11/20/2016 5:38:32 PM
JP, the above is from an investment article I get...
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johnpaulca
12,036 posts
msg #132644
- Ignore johnpaulca |
11/20/2016 8:56:57 PM
Thanks PT.
My target for the Dolla is about $101.8(secondary resis). Monthly is measuring just under $112, so expect a little relief for commodities.
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