“Oh look! … the NDX100!”
With the Hang Seng on “vacation”, and losing its intraday volatility [versus
normal], it’s a good time to focus on NDX100 … “when does this tree cease to
grow to the sky”? … directly below the monthly NDX100 candlestick, covering
the last 6 years.
Today, another trading day of uneventful action, where the entire day since the
NYSE open has literally been ± 20 index points around the 7364 level … could
be the Summer doldrums, or the market is cooling off from its torrid pace … in
any event, after the close today we get Microsoft earnings, and next week we get
the 800 LB. gorilla in the room, Amazon … how this stuff can keep going up
with zero correction is beyond me, but unlike other professional traders who’ve
gotten carried out the door “toes up” in the last 6 years predicting the top, I
simply go with the flow … and make no mistake, this stuff flows better than
any other index on the board!
Now, no matter what the NDX100 does, we are uniquely positioned to take
advantage of any gains from here, as well as profit from days on the downside
… as I’ve said in the past, but will repeat again today, “the PAMM is simply an
ETF with no overnight or weekend exposure, with far less risk, and many times
better profit opportunities … and while I would’ve loved to have been here a year
ago, we’re here NOW, the DOW30, DAX30, & SP500 be damned … the scumbag
LP’s in those markets run their own stops, pre-program the HAL9000 to hand
out dreadful slippage like Halloween candy, and generally rob you every single
chance they can get away with; which is every time you trade … not so in the
NDX100 … live and learn! Throw in the Hang Seng when it’s volatile enough to
hang around [generally, that would be ranges consistently over 500 points, along
with decent intraday volatility], and via the “Explosion Algorithm” returns will be
phenomenal”. More on this in tomorrow’s blog post.
Turning to today’s markets … Hang Seng, “fugetaboutit”! … volatility
overnight as pathetic as I’ve seen lately, and you simply have to leave it alone
when it goes “sleepy time” … that brings us to the NDX100, where trading
action is about as bad as yesterday … brief moves up/down correlating with
the gyrations in USDCNH and the “China tariffs story”, but other than that a
pure waiting game … “we haven’t moved more than 20 points from the opening
bid all day, and as I write, we’re in the last hour of trading doing nothing but
chopping around … Microsoft after the close … who knows what that brings”.
Market hitting new lows for the day, here in the last hour, and as a rule of
trading I have used forever, you don’t buy breaks in the last hour of trading,
not cuz there’s no chance of a slight rally, simply cuz longs getting trapped into
the close can make the down moves brutal as hell, and a lot uglier than you
think possible, and how you gonna make that loss back with less than 60
minutes to the bell?
Only one trade today … PAMM up slightly.
Simply a “throw away day”, what else can you say? … 20 points either way
isn’t going to please anybody, but unless you can make it move [I can’t], what
are the alternatives? … “trust me, when it moves we’ll be there to go with it”.
And with this crap day and such a tight range, I lowered volume somewhat to
give me some flexibility in case of trouble … didn’t need it, but isn’t hindsight
All told, NDX100 lower on the day and we’re up money … no matter the
amount, cuz if your money is in an ETF, you’re down … with up days, volumes
will be higher and I’ll be hanging on trades longer … why? … to capture
“pony rides” in price, and also take advantage of wider ranges to the upside in
I’ve been busy with personal biz these last couple of days after trading, and
that continues today … PAMM Spreadsheet will be fully updated after
tomorrow’s trades. And with that I’m outta here … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!!
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