Risky Swing

Look for Visa to cross over yesterday’s close for a quick swing up.

Stop loss is the 21 period’s channel

Where’s the bottom ?

“I’m not afraid, but I’m very nervous.”

― John Irving, A Prayer for Owen Meany

I keep trying to get a rebound, fortunately I was able to make my 1+% with my last pick, ABR made a high around midmorning and I was able to cash on my pick selling at 11.99,  however that’s not the way I like to trade cause I can’t be looking at prices all day. Is the volatility here to stay?

The SP500 is trading inside a killer downward channel and really nobody knows when or if it is going to end. As I told you before I trade with stops for opening positions what makes very difficult for me to short unless it is with an inverse ETF. Being said that, if only I would have 10% of John Irving’s talent for writing in my market timing……

The Dow still above the 21 week channel, although it’s a long way to the top, with a great economy there's hope for it yet.

 Anyway, it seems that Dover Corp found a bottom after the October 18^th earnings, volatility for DOV is decreasing.

My stop-buy is at 82.5, if filled and reverse I’m going out at 81.7 tish. As always I’m looking for quick 1 to 3% profit.

Good luck all,

Shalom

Arbor Realty

Some buying in reits

ABR crossed yesterday’s high and the volatility is decreasing

ABT 24/10/18

Swing trading IBM

Its too late for me for more shorts, at least for now.

The oversold market can keep on it or can rebound for a couple of days while the volatility fades.

IBM seems to have a short term bottom of 2 days, one way to play a rebound is buying at yesterday high with the stop loss below today low.

Viel Glück

WFC another swing

Wells Fargo presented a short opportunity with Friday’s close. Look at the textbook head and shoulders pattern with lower high on the right side of the chart.

I love shorts, if they are going to work, they do it quick, unfortunately since its impossible shorting with a stop, you have to follow by the minute to enter.

In the first 30 minutes today, together with the general market uncertainty, I shorted WFC after it broke the HS support at 52.71.  The quick move of more than 2% in a couple of hours made me cover with a quick ≈ 2% profit. Since it takes almost a year for a return of 2% in a safe investment, the profit was too good to pass. Of course, as always, I left profits on the table, it’ll happen again and again.

Sorry about not posting real time this trade, it went too quick.

Shalom,