Numbers for 12/18/2020

Numbers
12/18/2020 8:07
High = 30248
low = 30062
Close = 30202
Pivot = 30171

Support/Resistance
Support = 30070
Resistance = 30285

Time of comment: = 12/18/20 8:08 AM

Volatility = 99.

Quad witching — options expiring. We will go with a breakout today, either up or down. Let’s end a great week of profitable trading.

>>>>>>>>>>>>>

First Day of vaccines

This is how we are trading it:

We are now trading the March contract–

Support/Resistance
Support = 29907
Resistance = 30309
 
Time of comment: = 12/14/20 7:48 AM
Buy market on pullbacks (85 points) into support. Vaccine starts today.
>>>>>>>>>>>>>

FDA

The FDA granted emergency authorization for a Covid-19 plasma treatment. Volatility = 95. Stay long. Next minor support is 28075.

We are long this morning.

Great Job Spyglass

Quiet trading. Congratulations Spyglass. The “accident” trade became an $800.00 winner

I made 70

Not how much money I made. On October 22nd, 2019 I made it to 70 years of age. Thanks to everyone who helped me get here. No thanks to the punk who tried to prevent that in 1972.

That clown shot me in the chest in Rio De Janeiro. This will all be in the memoir I am writing. It will be a blockbuster.

This week was a good one in the markets. We were very patient with Mr. Market. On Fed Day we traded in both directions.

Just when we thought the bearish reversal would keep going on Thursday, the Friday employment numbers told another story. Our prediction was down.

Our trading was to go long. It is OK to make a prediction. Just don’t trade them. Trade where the market is going. Better to be a follower than a leader.

Recap 03/28/19

Market managed to squeeze three minor swings into today’s trading. Before the open we were long after the GDP and Jobless claims report.

Once the market opened those who were long, began to take profits. We were pretty quiet so did not catch the short until after 10:50 Eastern.

During the last half hour we were long again—the market was confused today.

See chart:

The second low by the arrow was a fake out break out.

Fed Day

We started out to the upside.

Two quick double bottoms lead to buys at 24750 Dow.
Then as we advised, we just wanted to make sure the Fed did not step on their own necks with a negative announcement.
We were off to the races. Good job all.