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If you were able to follow last week's and this week's Market Radar Video's you were definitely not taken by surprise by the recent move down. The charts were all pointing to a drop and news of the Argentina default added to the pressure and things really played out as planned. I don't want to see the market pull back and catch people but I was kinda happy to see the call come true and that we got the move that I was looking for. Now this sets us up for a crazy next week. I will start off saying I still think we head lower before heading to new highs on the SPX. The move is overdue and the momentum is on the sell side for a little more time.
That's why I focused on getting the VXX on the bounce in the markets today. After seeing such a picture perfect technical breakdown I wanted to take advantage of the first bounce. While still expecting further downside.
Next week brings a lot of interesting charts to table. I go over these in detail on this week's HPS watch list that you can view here.
Today was also very busy for me in the chat room and in the trade alert box. On Fridays I work from 8:00am till around 10:00pm on charting and finding the best set up in the market for the following week. I wanted to share today's log with you as there was a lot of great info.
I even got into an Ebola play and was happy to see other join me for a nice ride and profit ( I am still holding but some took profits)
Well here are some comments from today's action; I am leaving out the HPS charts that were posted those can be seen in the video and the HPS site
Today's Transcript
(9:05 am) Morning Notes : Don't forget there is a Market Radar out for today https://www.youtube.com/watch?v=2r3E6lSzgIE&feature=youtu and just will be positingcharts all day and here is an early list of great potential bounce trades. PG, MON, GIS, KSU Channel,
( 9:16am) looking at PFE again 28.00-28.20 area, CS Channel, BLL Flag, $RUT as a possible Lane Divergence, CMI lower channel line, K in the same setup as GIS but a great retracement trend line under us now. KRFT same as above.. All these are looking so nice for starting entries but I expect the market to pull back further.. So cautiouson any longs
(9:34am) Bought MON 20 @ 112.68 added to position 60 shares total
(9:41am) First bounce after a day like yesterday is suspect but the 60 min is set up and we are right on the 1-2-3 channel line so looks good for more upside
(9:46am) Bought VXX 100 @ 31.49
(9:50am) Markets usually sell this bounce but we do have a nice DTR 1-2-3 pattern and 60 min set up
https://twitter.com/daytradingradio/status/495211321018036224/photo/1
(9:56am) Will be adding to Gold soon Like the GLD a lot and this last pullback looks perfect for a continued move back up
(10:04) Bought VXX 50 @ 30.69 150 shares
(10:05am) I am having a hard time buying this pop. Holding some longs and feel better having this VXX hedge for now
(11:04am) Here is something to pay attention to for this next pullback
https://twitter.com/daytradingradio/status/495223420561686528/photo/1
(11:21am) Bought V 20 @ 211.56 small scales 60 total Higher Risk don't want to get to involved yet in longs except some quality names that are holding up
(11:24am) Sold VXX 150 @ 32.40 +91
(12:04pm) Small tight Scalp Bought TNA 100 @ 64.72 looking at 1.00 stop might add
(12:08pm) Will be positing some future setups for next week some I am already scaling into small. But these levels and stocks will be discussed in detail in the video released later tonight
(12:08pm) HPS POSTED for MEMBERS
(12:24pm) HPS POSTED for MEMBERS
(12:38pm) keeping my eye out for a move back up in the $RUT long the TNa and looking to add
(12:51pm) Sold QCOM 70 @ 72.29 -3.86
(12:57pm) Bought TNA 50 @ 65.06 added to position Higher Risk
(12:58pm) HPS POSTED for MEMBERS
(1:24pm) prob a nice safe level to get out of TNA here on this bounce still very risky I am taking the chance we get a grind higher
(1:28pm) Surround yourself with quality stocks and friends. Watch SPLS we actually can grind all the way back up here on SPLS
(1:30pm) Awesome move here DTR multiple time frame buy signal sold VXX into and bought TNA.. Lets keep it going
(1:46pm) Question of the Day: What stocks are out there to watch if there if chatter of someone with Ebola gets into the US. You know this is coming.
(2:01pm) Bought TKMR 50 @ 13.61 High Risk Spec stock on Ebola
(2:11pm) Sold TNA 150 @ 66.00 +1.17
(2:18pm) Even though I got out of TNA the multiple time frames is a nice set up and we could easily move higher. But the game is to rat hole profits. I am happy with the follow through today and starting to shift to a positive bias but lets just say slightly bullish right now on how this day ends up.
(2:33pm) Bought TKMR added to position 50 @ 13.75 High Risk Just a spec play on the Ebola Virus, Not to much research at this point just working a possible media frenzy if things got worse.
(2:50pm) HPS POSTED for MEMBERS
(3:22pm) What time we send out the Question on the EBOLA Stock and Buy $TKMR on top of it again!! #Rockoutwithyourstockouthttps://twitter.com/daytradingradio/status/495287955528093696/photo/1
(3:27pm) Early 7 Min video of some stocks and outlook http://youtu.be/nV-T6hhTo8o
See everyone in the markets Monday
DTRS | 
