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Marketmind
Veteran hedge fund manager. I trade what I see, I fade fintwit. Trader, gambler, investor. +80% in 2019. Subscribe to my free weekly e-mail:
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Marketmind 5h
Replying to @Matthia36469298
I don't really have a bias either way. Just happens that the very short-term opportunities are on long set-ups. We're in Week 7 of a decline - usually that makes downside limited. Also, sentiment has stayed too bearish - everyone is expecting a test of the lows or new lows.
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Marketmind 7h
Here's what I was looking at when I made my long entry. Zooming in on the 5-minute charts, we had lazy selling all day, and positive MACD divergence. Worth a shot long in front of a lot of weekend fear.
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Marketmind 7h
Taking a small long position here. Buy April 15 $265 Calls at $1.06. 1.5% position Risky trade, but obviously my downside is limited to just losing 1.5% of my bankroll.
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Marketmind 7h
You can see why a lot of people will want to add/press shorts into this set-up. Sitting at support. Technicals about to turn down. Heading into the weekend with headline risk. This set-up is way too obvious, so I'm much more tempted to go long here.
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Marketmind Apr 2
Replying to @Sharath00980046
I think the market is just shaking everyone out on both sides. I don’t have a view yet- I think having a bias is dangerous right now. It might take a few days for it to build up a tradeable set-up. Until then, lots of chop I think.
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Marketmind Apr 2
Another day with no juicy set-ups. Patience. Looking around FinTwit, I saw many gurus' price levels getting blown up & reversed all day. Last year, I did less than 25 different trades in this public account all year. Still made +80% return. Less is more, everyone.
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Marketmind Apr 2
Replying to @Syntheto1
Very possible. Though it all depends on how far and how fast the rally goes. Plenty of time to wait and see...
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Marketmind Apr 1
Yeah, my gut is telling me everyone is looking for new lows. You can feel the eagerness for this market to turn down here. Doesn't mean it won't. I really don't know what the next nice trade will be - take it one step at a time and make sure I don't fall for any traps.
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Marketmind Apr 1
Replying to @ksopworker
Exactly - everyone is trading off the same targets. Bold, riskier trades will work best.
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Marketmind Apr 1
Whatever my next trade is, it's probably going to look crazy. I have no plan right now, I'll take a shot when I see one. It feels like everyone is watching the same levels. The market is going to fakeout, reverse, and ambush everyone.
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Marketmind Apr 1
Replying to @Sharath00980046
Yeah, I think this market is in a very tricky period. I'm watching for levels and supports/resistances that everyone is watching to fail somehow, or never get hit. Holding back on trades has helped me in the last few days (I would have had some losers)
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Marketmind Apr 1
falls back below the trendline, which should have been support. It's too early to know if this is another fakeout. Still a lot of conflicting signals and mixed sentiment. I'll let everyone else throw darts and I'll wait for a clearer opportunity.
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Marketmind Mar 31
Replying to @Syntheto1
Market can go either way. I'm more inclined to wait for some sort of extreme event and then trade off of that. In many ways, I feel like I've been overtrading recently - it hasn't hurt me fortunately, but I want to be careful.
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Marketmind Mar 31
Still no clear compelling market direction trades IMO. As I said in my newsletter - this is the time when mistakes are made. I'll sit on my gains for the years and not going to force anything.
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Marketmind Mar 28
Replying to @stoolpresidente
If you’re gonna try it, follow someone who’s been doing it right. +30% so far this year, +80% last year. All my trades posted live, for free
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Marketmind Mar 27
Daily charts are bullish, but are due to lose upside momentum. Weekly charts still bearish, but due to lose downside momentum. Sentiment feels mixed - everyone's targets are all over the place. No real obvious pain trade. This is a perfect time to be patient.
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Marketmind Mar 26
Replying to @Sharath00980046
I could see why that trade makes sense - shorting the trendline resistance, with a tight stop. Good luck!
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Marketmind Mar 26
I focus on controlling my fear of missing out. Yes, the market has potential upside here. But the easy money has been made, and we're still in a weekly bearish set-up. With again pausing at resistance, and the rally in day 3, I'll be neutral here and wait.
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Marketmind Mar 26
Booking profits on my and holdings, Back to the sidelines with no trading positions. There might be more upside, but I'll take profits early here. Sold for $255.77 Sold for $187.17 +3.4% gain on these bets. Now up to +31% gain on the year.
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Marketmind Mar 25
Replying to @Sharath00980046
I’ll likely sell my longs and return to the sidelines if there’s any bounce on deal news. The rally will be three days old and since the weekly trend is still down, it’s dangerous to hold long too long. Unfortunately, there may be no bounce. I will have to wait and see tomorrow
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