MichaelEugen1

MichaelEugen1

Hey all, I entered a large-sized short on XLRE this morning, likely with an outlook of 2ish months. I believe XLRE either made a top this morning or is due to put in a significant top very soon. There are many reasons why I decided to do this, and I'll get into that- Firstly, real estate is fundamentally very ugly right now; with 30Y mortgages at 6.58%...

MichaelEugen1

Hey all, I'm making this post to take note of the clear divergence between XLE (energy stocks) and USOIL (the price of oil ). The movements of these two tickers tend to mirror each other, with good fundamental reason behind why- the price of oil tends to increase the profit margins of energy companies, increasing the profits these companies experience. As it is...

MichaelEugen1

Hey all, Today was a massive green day; there's no doubt about it. We've had such a massive up day... that we've smacked right back into the old ceiling/resistance before on the Q's. Semiconductors and many beaten-down retail stocks are pumping like GME back in the day. I hope bears were cautious into a news event as significant as CPI, and were managing...

MichaelEugen1

Hey all, I can't remember a day that was this green on the stock market; it is incredible, to say the least. I was positioned short into CPI, and obviously, I feel the pain as my bear counterparts do- you've always got to reduce risk into these lotto news events as you can never *know* what is going to happen. We've broken out of the key level at 389/390, but I...

MichaelEugen1

A level to watch and think about on AMAT. I am surprised AMAT made it this high, but I am quite confident it makes it no higher. I expect stocks to fall on CPI, I think semis will fall especially. Even if they don't, I'd watch this level on AMAT; I'm not sure it revisits it- I think the top is in. Make of it what you will. This is as good as it gets; I think...

MichaelEugen1

Hey all, I thought I'd post this as I'm seeing AMZN get towards the bottom end of its current base. I'm actually taking a midterm right now, so I'm not able to write too much on this, other than the fact that if you're currently bullish, you want to see this base hold strong on AMZN as it is a market-moving name. I'm bearish on the markets at current stages, but...

MichaelEugen1

I'd be lying if I said I was expecting SPY & various names to hold up as well as they did after FOMC; basically, the only sector that died off as I expected was tech. I'm underwhelmed by the selloff we saw, to say the least. I've definitely given back more profit short than I would have liked to. I still expect downside- now, it's a question of how do we get...

MichaelEugen1

Hey all, I've marked up XLF's chart. This looks like it's put its top in, and is setting up to head lower, soon- the false breakout+backtest look is what excites me. Here's my trade idea.

MichaelEugen1

Here's another short setup I like; MS has a false breakout, has backtest/rejected, and has room down.

MichaelEugen1

I'm gonna be shorting tons of things toward the close. I think 389-390 will be the peak; even if it isn't, I expect rallies above it to be short-lived and only go above negligibly, if at all. There is a massive safety net with this trade... I think the risk:reward short at and around these levels is among the best I've seen in a long time. I've posted all my...

MichaelEugen1

Hey all, I'd short XLI on the gap fill, or when SPY reaches $389. It's fresh off of distribution and is now in a downtrend. Looking to play it accordingly by shorting rallies where I think they're running out of steam, which I think this rally is.

MichaelEugen1

IF SPY REACHES 389 TODAY, I'LL BE SHORTING THIS. Grateful this didn't dump on earnings. I think it will fall heavily thru November. Would look to stop out if highs get plowed through, which I doubt happens.

MichaelEugen1

Hey all, I think IWM is going to drop in November; I am hoping it chugs slightly higher in the coming week as I am looking to short this name. This chart doesn't look particularly healthy, and it is clearly in a downtrend. I see no reason that trend won't stay intact, and I perceive IWM is going to be a very safe short when $SPY reaches $389/share. My predicted...

MichaelEugen1

This is one of the most peculiar stocks on my watchlist. It is very high up and has a history rich with pumps & dumps. I anticipate this stock will *eventually* dump, but forecasting this one is very difficult. I am likely going to short this name when $SPY reaches 389 as it hovers at resistance, but I would be very careful playing this name- I am likely going...

MichaelEugen1

Hey all, XLB is in a downtrend. When you know what the trend is, you play with it accordingly. I perceive XLB will be a very solid short when $SPY reaches $389, and I will be shorting XLB. I think this is a very safe short with a massive safety net & margin for error.

MichaelEugen1

I'm looking to get short on this name and am hoping it chugs up a little higher to meet resistance at around $80. Considering where $SPY would be at the time(hoping for $389), I think GE will present a solid short opportunity with a decent safety net. My predicted move is drawn out.

MichaelEugen1

I think WFC is setting up to be a very safe short with decent reward opportunity. I am simply waiting on SPY to get a little higher to ~389 to short this name. I see no reason why this name would continue to hold up, and I suspect it falls through November.

MichaelEugen1

Hey all, I really like the look AXP is giving for shorts here. I would like it to get *slightly* higher, but I suspect it will when SPY reaches $389. I think this name is going to be a very solid short through November, and I am surely going to play it.