The bears den

[Mecisteus]

I thought with all this bad news that my target price for 2800.HK would finally be reached, but when I logged in to check, it seems that both HK and China markets are up... only 10 more days left for the FSM free trades promotion and I still haven't bought anything yet

If you are bearish, you can choose to short though.

You still can utilise the free trade promotion.

 

[revhappy]

I thought with all this bad news that my target price for 2800.HK would finally be reached, but when I logged in to check, it seems that both HK and China markets are up... only 10 more days left for the FSM free trades promotion and I still haven't bought anything yet

HK dividend yield is solid. It didn't go up so much also. Compared to how high S&P500 has gone.

 

[revhappy]

If you are bearish, you can choose to short though.

You still can utilise the free trade promotion.

FSM cannot short.

 

[Mecisteus]

FSM cannot short.

Oops you are right.

Then can sell some.

 

[DukeCS33]

It is not easy for investors to turn short. Requires a change of mindset. And it requires more consideration to get the timing right.

 

[theMKR]

It is not easy for investors to turn short. Requires a change of mindset. And it requires more consideration to get the timing right.

i feel that its easier to short than to long.....

but i been shorting TSLA only

now i have short positions at 204.6 and long options put 197.5 and 195 by 24 may

 

[churnmaster]

Last night's price action was not overly volatile . There was an attempt to close the opening gap before resuming the downward trend. The S&P managed to lift above the lows.

The SP futures closed above the 2840 level and there was a lack of momentum to push it further down. I reckon we may see sideway movements from here with test of upside to see if there may be fresh supply for another push to the downside. 2800 remains the key support area.

My intraday trades have played out quite nicely as the volatility favours such scalps. The only stock that I am long beyond an intraday hold, managed to nudge up another 1% gain last night - not too bad considering the weight dragging down the major indices of late.

Yep, looks like a sideways market from here on for the next few days ... Brazil rallied more than 2% overnight and today most Asian markets are in the green. Slowly getting net long for the singapore market.

 

[peipei1]

Hey duke, you see tonight ok to scalp some upro or tqqq? Last night fall wasn't so bad, tonight will rebound a bit?

 

[DukeCS33]

Yep, looks like a sideways market from here on for the next few days ... Brazil rallied more than 2% overnight and today most Asian markets are in the green. Slowly getting net long for the singapore market.

I have 3 longs and 3 shorts to execute tonight. These positions would be held on for a slightly longer time frame. Prior, I have used VSA techniques to validate swing trades. Now I am using it solely for trade initiations. So when I spot a buying zone and that zone is being retested and where there is lack of supply there, or demand showing up, I would trade it.

My only concern here is that the Chinese may spring up a surprise retaliation and that to me is the most pressing factor for the markets now... every day we do not see that, we may see the markets attempt to rally... but make no mistake, we have already observed supply coming in over the last 2 weeks... and that was a change in character for the equity market which has been used to trending higher without much resistance.

 

[churnmaster]

i feel that its easier to short than to long.....

but i been shorting TSLA only

now i have short positions at 204.6 and long options put 197.5 and 195 by 24 may

Why this infatuation with TSLA ?

Btw, If you are short the underlying then you should be buying call options as protection for any adverse moves in the underlying.

 

[DukeCS33]

Hey duke, you see tonight ok to scalp some upro or tqqq? Last night fall wasn't so bad, tonight will rebound a bit?

Frankly, I am not too sure... I thought that the SP futures tested the downside at 2840 which was the low from 16 May but that level held and what we had was a doji with a small body with wicks on both top and downside.... all that means indecision to me. So I expect more of the same today unless we have news. I normally trade the reaction rather than pre-empt news and take positions.

For scalping, it really depends on price action reading at that point in time... if I see a technical formation for me to trade, I would do so until I see a reversal. Normally I would only scalp stocks that exhibit high momentum and a directional bias and trade along that bias. Before the market opens, I would see which stocks has news, which stocks trade in high volume in the premarkets and shortlist some counters there... so last night, it was a play on the semi con stocks for me.

 

[DukeCS33]

Why this infatuation with TSLA ?

Btw, If you are short the underlying then you should be buying call options as protection for any adverse moves in the underlying.

MKR, could you care to share the reasons for shorting this time?

 

[theMKR]

Why this infatuation with TSLA ?

Btw, If you are short the underlying then you should be buying call options as protection for any adverse moves in the underlying.

i keep trading SHOP and TSLA only...... i losing big at SHOP, it rose 30 dollar after i short within 2 days.....

i think TSLA will go 192 or something.

so i buy the option put, so i have the right to sell at the strike price if the price fall below strike right?

its my 1st option purchase btw lolx

 

[churnmaster]

I have 3 longs and 3 shorts to execute tonight. These positions would be held on for a slightly longer time frame. Prior, I have used VSA techniques to validate swing trades. Now I am using it solely for trade initiations. So when I spot a buying zone and that zone is being retested and where there is lack of supply there, or demand showing up, I would trade it.

My only concern here is that the Chinese may spring up a surprise retaliation and that to me is the most pressing factor for the markets now... every day we do not see that, we may see the markets attempt to rally... but make no mistake, we have already observed supply coming in over the last 2 weeks... and that was a change in character for the equity market which has been used to trending higher without much resistance.

Yes, this net long position is after closing the shorts with the intention to again get net short 1.5 to 2% higher. I maintain my bearish view on the market, however, its also important to realize some of the gains on both sides - longs and shorts regularly.

 

[DukeCS33]

https://sg.yahoo.com/finance/news/1-singapore-downgrades-2019-gdp-002432630.html

 

[Trader11]

The goal of big boys is to force those who bought during last bearish trend to be fearful and start selling at weak prices so that they can pick up cheap prices again.

 

[revhappy]

USDSGD is going back to the highs reached in Nov 2018 when there was EM turmoil. What followed was the huge December plunge. Will that repeat?

 

[churnmaster]

https://www.cnbc.com/2019/05/21/mor...-could-drop-to-10-in-worst-case-scenario.html

Morgan Stanley on TSLA shares

 

[Trader11]

https://www.cnbc.com/2019/05/21/mor...-could-drop-to-10-in-worst-case-scenario.html

These guys want to sell fear to scare people to sell. Then they accumulate more Tesla below 200

 

[DukeCS33]

These guys want to sell fear to scare people to sell. Then they accumulate more Tesla below 200

I see the MKR's hand in this