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iamiam wrote a post · Aug 10, 2022 02:16

UPDATE August 10

Still winning although only up 5% today (that's what happens when you close and open a lot of positions)
UPDATE August 10
iam set up mostly long, although I didn't manage to sell as many short positions as I wanted, or buy as many longs as i wanted.
Tomorrow is the CPI release... and I predict a BEAT, as in lower inflation, how because commodities have come down a lot, and all those sales at the stores and extra inventory SHOULD drop inflation. I expect a 7% something report which would be almost 3 percentage points lower than last month and should reignite a rally.
UPDATE August 10
Don't get me wrong, this is not real and the market isn't either (price is detached from reality) but it is what it is. If you want reality - here:
UPDATE August 10
Onto the charts:
First $ChemoCentryx(CCXI.US)$ I have sold this short (my own shares) playing for a BIG drop.
Why? Human nature, IF the markets take off as I think they will, holders of CCXI with limited upside and a lot of equity in it will sell to participate in the rally. With limited upside (52) buyers should be scarce, causing a fall.
UPDATE August 10
UPDATE August 10
$Invesco QQQ Trust(QQQ.US)$ The weekly chart is strong. This is one of those times where the market just does what it does because everyone thinks it's going to go down, and that is how it sucks in the euphoric and profiteers.
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And just for fun
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$Alibaba(BABA.US)$ I swear BABA is bottoming, it has been for some time, but now it's finally starting to fill out the triangle. Triangles break both ways and the indicators tell me this will ultimately break out.
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And don't forget the miners $VanEck Gold Miners Equity ETF(GDX.US)$ plus it's cheaper than $SPDR Gold ETF(GLD.US)$
UPDATE August 10
UPDATE August 10
And finally way to early futures, and they don't really matter because they will not give off a signal. $E-mini NASDAQ 100 Futures(SEP4)(NQmain.US)$
UPDATE August 10
UPDATE August 10
UPDATE August 10
iam much too tired to do any more charts, goodnight, and as always
Good Luck
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iamiam
Engineer, Commodity Buyer, Alert Bettor, Tesla 🌬 Commodities BULL🐘 Precious Metals Dragon 🐲 and OIL Trumpeter 🗣🎺
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