Purchase QQQ calls

Today we purchase QQQ 102.50's. Lets look at the chart:

Yeah, a whole lot of panic. And look at that huge bottom candle. It tells me that its time to get in.
Our in:

I

am also about to purchase SPY. I think its time for a double down with SPY...I will keep you up to date.

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We may be purchasing some QQQ and SPY calls today.

However we are in the middle of a huge panic. I will wait an hour or so to see if the ship somewhat stabilizes.

Tradinginsider

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OMG: Markets crashing

I have been watching the markets this morning and the 1000 pt Dow drop right at open and now sitting at -600. More to come as I see what is what...

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Are you Ready for Monday?

Big week last week with a new channel opening and the floor giving away below everyone in the market. In my previous post I had described how I expect the market to drop more on Monday and possibly Tuesday. To get an updated revised last minute forecast on this, 15 minutes before market open on Monday, check the futures for the Dow and Nasdaq. If they are way down, its almost certain we will have another bad day. Way up, then a good day. If just a bit down or a bit up, watch it there could be a reversal after the gap fade in the morning 1/2 hour after market open.
However, it is my opinion based on the candle charts that we are going to continue to bleed. I jumped on board this southbound train with a QQQ put at the end of last week.
Again: I do not feel that this is the big one, instead this is a fore-shock. I expect things to level out by Wed-Thurs with a tentative climb with everyone closely watching the board.
Well, thats it for today,
Stay Frosty,

Tradinginsider

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This is going to be worse than I thought...

There is a strong possibility that the market is going to continue to crater...and we have some QQQ calls out there. Thats fine, when I see the bottom via trading signal, I will simply double down on the QQQ and purchase a call on SPY and ride things back up.
Lots of chicken littles out there think that this is it, and the QQQ weekly says that it is not. Again, thats coming in 2016. Why do I keep saying that the market is going to crash then?
Lets look at the chart for the weekly QQQ:

There. This is what I am basing my data on. The weekly has had a strong upward solid curve and if you continue that trend into the future you can see I marked the months counting off forward into 2016 at the bottom of the chart and if you continue the curve of the weekly candle chart you see a crash occurring  in the later half of 2016 at the point indicated.
I don't think that crash is coming now. However, it is a fore-shock rumble much like before the big one in San Francisco. Its a big rumble because look for the first time the 50 day Moving Average (blue line) got crossed over into. I think that we are going to have a few more down days, then a recovery and things are going to steam onward until we fall off the cliff. I will give you updates as it gets clearer and what you can do to position yourself. For example. How well off would you have been if you had bought leap puts on the major ETFs and some big blue chip stocks and rode the crash all the way down? You would have done very well. This time I intend to do just that.
Also on Monday...I am going to check the premarkets and if I see that they are down with bad headlines about world markets happening, I am jumping in with a SPY put right at open. I was siting here thinking how Im watching the train go down and I'm not on board. I know its anti contrarian, but these big dips dont happen too often. Also I have a call watching my back. I'm gonna dip my toe in the pool with a SPY put at open if I see the pre markets dropping. I think we are going to bleed on Monday. If however, the premarkets are looking rosy, Ill just sit it out.

May you live in exciting times,
Tradinginsider

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Its time to reach down....QQQ calls!

and get ahold of yourself. Think: does buying call options sound completely batshit to you today? Does even thinking about that set off that safety monkey screaming in your ear to stop, what are you doing/thinking about?
Is there blood in the streets today? Well then, it just may be time to make the contrarian move of buying a call option on the QQQ. Lets look at the chart:

Not lookin good. I see we broke the 200 day MA which is a big bear signal with a gap down. I still think this etf has a bit more to go down.
But not by much. Im gonna throw in a call option here just to protect ourselves in case this bounces back some on Monday as this bleed off is starting to move into oversold panic levels. I think we are going to slow down consolidate on Monday-Tues and then there will be an up day. If I have to, I will double down early next week on some calls. And a 1x call today for a possible upside early next week. I dont want to miss the bounce, and again I can cover this with a double down if there is a further drop with a definate bottom signal from a candle.
So, my in:

I am not going to the lists today because I need to see a bottom first, then we can start bouncing other options. I am leaving now to go to a string of appts and wont be back until 2:45. If I see anything last minute, I will put it up before close. Remember, sign up on my twitter for any last minute updates.

Tradinginsider

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