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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (64855)	7/8/2022 11:12:10 AM
From: ajtj99	1 Recommendation Recommended By catou1 Respond to of 97451

This may just be a technical bounce within the context of a bear market. We had some big bounces during the internet bubble popping, including a big 3-week one in Jan. 2001 and a 6-week one that started in the 1st week of April in 2001. Traders want to cover shorts and re-load higher, and some bulls want to catch falling knives.

To: Jacob Snyder who wrote (64855)	7/8/2022 11:36:13 AM
From: ajtj99	Respond to of 97451

I hope you have a great vacation, Jacob. I suspect it involves salmon fishing <G>

To: Jacob Snyder who wrote (64855)	7/8/2022 12:18:46 PM
From: Lee Lichterman III	1 Recommendation Recommended By ajtj99 Respond to of 97451

See my earlier post about a bunch of puts around 3800 SPX. I think they are holding it up for that plus there was a lot of outflows from equities the last couple weeks, around 4 billion???? I forget the number. Probably want to sucker that money back in, clear those puts, then we can start the next leg down. Probably around earnings and triple witching mid-month.

To: Jacob Snyder who wrote (64855)	7/27/2022 1:14:27 PM
From: Jacob Snyder	2 Recommendations Recommended By ajtj99 LoveAG Read Replies (1) \| Respond to of 97451

Shorting QQQ: schrts.co. Since the November 2021 peak, every move above the 25dsma has failed. QQQ has never gotten 10% above that line. Tends to trough about 10% below the 25dsma. Around 315 was resistance at the June high, and support at the February and March lows. The largest bear market rally was in March, +17% (316 to 371). A 17% upmove from recent lows would take us from 269 to 315. The trend remains the trend until it has clearly changed, and that has not happened. The trend is down. So I am guessing, there is little upside potential, and a lot of downside risk. Started shorting today (using December $290 puts). Add on any further QQQ upmove. Load up if QQQ stalls around 315.