PharmD Capital Trading with PharmD_KS

PharmD Capital Trading with PharmD_KS

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PharmD Capital Trading with PharmD_KS
PharmD Capital Trading with PharmD_KS
Trade Plan for 9/30
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Trade Plan for 9/30

The End Is Near

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PharmD_KS
Sep 29, 2024
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PharmD Capital Trading with PharmD_KS
PharmD Capital Trading with PharmD_KS
Trade Plan for 9/30
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Note: The price to new subscribers only will increase tonight. See the announcement here: Pricing Change

The weekly post should be reviewed prior to this. Link to The Week Ahead

SPY 0.00%↑

As mentioned in the weekly plan, the end is indeed near. The end to the pinning action around SPX 5750 that is. We are still grinding higher, and we’ve seen this a number of times this year. Price gets extended to the upside (this time with a major SPX pin along with it), we grind higher→grind higher→late buyers get liquidated→buy the dip→rip to new highs.

Thus, if you’re a trader you would love to see some late longs have their stops blown, giving you a chance to buy a clean low for a rip higher. As mentioned in the weekly plan, we have some short-term caution signs flashing but sellers are a long way from putting buyers offsides. Thus, we welcome a rapid pullback with stops being blown on the way. We’ll buy that puke until context changes. With end of month and quarter Monday, there is a chance for this to take place if the pin doesn’t hold things together. Either way I expect the action to loosen up this week.

I’m stalking this trade and a trade on crude oil this week. See here for the Crude ideas Is Crude Going to Zero?

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