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SMC Update 7-15-21

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07/15/2021

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canikram271828
canikram271828

Hello Peter, could you review the VIX or VIX related ETF.

XXSPOWER127
XXSPOWER127

Maybe a TSHIRT update Friday special can happen??? ;)

Optimus
Optimus

Market does not seem to let us in on the downside. So, knowing we still have the Dow Jones projections outstanding, looking to nibble some DIA into the close.
Update: a small limit order got filled at $346.45. I noticed DIA was approaching the continuum (345.86 for the 7/8 offset) at the close. Trailing stop at 343 (1%); plan to buy more if that holds. Upside to 357 (12.1/ 3.8 offset) but will keep moving the trailing stop up if we move higher.
What are others doing with the service in this environment? If you want to share.

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Optimus
Optimus

jshemanski49196 said:

Long 1 TSLA $700 Sept put & long SRTY ( both stock and options), while short a few shares of CMG (Chipotle), Any projections on that one would be greatly appreciated! McClellan oscillator closed at -200 today, approaching oversold territory however.

SRTY must have made you happy; up 10% last week. MACD also shows IWM as oversold. Let's see what next week brings.
TSLA: Peter beat me to it. Let me know if there is anything I can look up for you.
SRTY: Due to the recent rapid move up, I didn't see any outstanding downside projection. But, it does have couple of upside projections and is already in their projection window. The highest possible level is on the 48.4/55.3 offset of $12.12.
CMG: One downside, a preliminary projection, generated Friday for the 7/8 offset to $1,532.88. At which point we could see a cascading downward effect from the next offset as Peter highlighted on this weekend's update.
I am looking at NVDA as well. May short it if it bounces to a level I am looking at. Not chasing downsides at this point. But, that could be another juicy one.

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