Johnny Rock's comeback

Discussion in 'Journals' started by johnnyrock, Jul 20, 2017.

  1. johnnyrock

    johnnyrock

    I just heard a report on the radio. NK is planning a missle test towards Guam. Our Generals promise to shoot it down.

    NQ futures up 28 points. I think everyone realizes this is just theater.

    I have a queation. What if we "miss" a practice launch and the missile lands in the water as planned?

    The futures might take a dip. It doesn't seem to matter either way. What matters? Follow the futures. They are a reflection of the present, reality. No civil war. No NK war. Oil was down too!
     
    #261     Aug 14, 2017
  2. johnnyrock

    johnnyrock

    Short YM
    Screenshot_20170815-110240.png
     
    #262     Aug 15, 2017
  3. johnnyrock

    johnnyrock

    Covered. $125 loss. New balance $4175.
    Screenshot_20170815-130025.png
     
    #263     Aug 15, 2017
  4. johnnyrock

    johnnyrock

    • Impulse down
    • Lower high
    • Lows held
    • Exited on strength
    Loss that was played aaccording to what I am trying to accomplish.
     
    #264     Aug 15, 2017
  5. johnnyrock

    johnnyrock

    I passed on this trade because my bias is short in oil at the moment.

    But this a good illustration of the 3bt (three bar triangle at a key level) at gap resistance. For my purposes, psychological, my bias lines up with the 3bt break as a prerequisite to take the trade.

    You can see the bottom that was carved out in the premarket until noon. On the 30' price coiled for an hour and a half

    Why use the 30' on the ETF?
    • truer picture of institutional participation
    • Gap
    Why use the 24 hour?
    • The market is 24 hours
    2017-08-15-16-45-30--1987757893.png Screenshot_20170815-164337.png
     
    Last edited: Aug 15, 2017
    #265     Aug 15, 2017
  6. johnnyrock

    johnnyrock

    I turned 14 in 1980, so I am no expert on the 70s. Recent events have me feeling nostalgic.
    Screenshot_20170815-173525.png
     
    #266     Aug 15, 2017
  7. johnnyrock

    johnnyrock

    At a recent seance we were able to contact the Spirit of Jesse Livermore. I had the opportunity to ask him a few questions.

    JR: So, Jesse, what is heaven like?
    JL: Well, I ended up in purgatory with a 30 year sentence.
    JR: The whole suicide thing?
    JL: No, not at all. Jesus was kinda cool with that.
    JR: Hmmm. I would not have guessed that.
    JL: He understood. I had to go through a lot of ups and downs in my trading career. That can put a lot of stress on the family.
    JR: The wife? (Johnny chuckles.)
    JL: Happy wife, happy life.
    JR: Amen brotha.
    JR: You said 30 years of purgatory. It's 2017.
    JL: Damn, another elite trader stating the obvious!
    JR: Aren't we a little sensitive?
    JL: It's not a matter of being sensitive.
    JR: What is it then?
    JL: I have another 10 years on my sentence.
    JR: I don't get it.
    JL: I have ben reading your journal. There are a lot of things you don't get.
    JR: (Johhny chuckles).
    JL: (Jesse is visibly annoyed. "And?!")
    JR: So what is your sentence?
    JL: You have the greatest trading legend who ever lived, standing before you, and that's your question?
    JR: Yep.
    JL: As you know Elite Trader started in 1997, right?
    JR: I have been lurking since 2002.
    JL: Looking for the missing piece of the trading puzze, Johnny Boy?
    JR: Yep.
    JL: The missing part is you.
    [SILENCE]
    JL: Are you still with me Johnny?
    JR: You have my attention.
    JL: [SILENCE]
    JR: What else?
    JL: That is it. There is nothing else.
    JR: Fuck. That makes no sense at all.
    JL: Of course it doesn't. I have read your journal.
    JR: So. What was your sentence?
    JL: 30 YEARS of ELITE TRADER!
    JR: I like it. A lot of wisdom floating around from the old timers.
    JL: A lot of bullshit too!
    JR: Amen, brotha.
     
    #267     Aug 15, 2017
    speedo likes this.
  8. johnnyrock

    johnnyrock

    Screenshot_20170816-062538.png Yesterday's NR bar on the daily did nothing for the bull case. Oil and gold are my two prime candidates for day trades today. I will be waiting for the 3bt on the 30' within the overall context of key levels.

    The indices are all stuck back in the previous range.
     
    #268     Aug 16, 2017
  9. johnnyrock

    johnnyrock

    What would catch most traders off guard? A selloff? There hasn't been much participation to propel the markets forward during RTHs.

    YM would be by go to short if the indices selloff. That is a big IF.
    Screenshot_20170816-074113.png Screenshot_20170816-074048.png Screenshot_20170816-074022.png
     
    #269     Aug 16, 2017
  10. johnnyrock

    johnnyrock

    Disconnect or is the nasdaq leading? Waiting ...

    Screenshot_20170816-080242.png Screenshot_20170816-080232.png
     
    #270     Aug 16, 2017