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Seems overextended, but the trend is down for now and bottom pickers (like myself) are hurting so far.

I tend to have a different view. I think we gap up and go higher. But the more time we spend down here, the less certain I'm getting. Yesterday was a bloodbath, but overall the week is only down -1,06 % at the lows, it's not like there's not more to go on the down side. @flash crash nailed...

Stopped overnight for 3 points. And that's why I generally don't use wide stops. :) Still thinking recovery today is most likely, so will keep taking a few stabs on the long side.

Added one on this pullback and tightened up the stop a bit. I "know" tomorrow will most likely see a (big) recovery, so I'll just hold here. I just "hope" I won't get shaken out overnight without being able to get back in. Could get another deep dip first. Only God knows. Now we pray. :)

1st trading day of the year so far in 2024. SPX. Avg. change is actually negative. 50/50 pos./neg. and only one biggie. So no, 1st trading day of the month is not usually very bullish.

LOL. You must have a good memory. I forgot I even posted that. But yes, it's true. I blew a $20K loan day trading index futures knowing absolutely NOTHING and my parents helped me refinance the loan on better terms (still had to pay it back myself, no handouts). It wasn't exactly a sinking hole...

Thanks. Best to keep it honest in my view. Nothing gained either for myself or others to be telling any lies. Yes. In the past I've been short on skills and short on cash. Now I may have the skills, but still short on cash. I think that for long term success the key is to have enough capital...

The outcome from here seems random to me. I see a spike to 5500 more probable than a dump, although the latter wouldn't surprise me either. Unless the world ended - this is a bit too much in one day. Took a few longs on the way up here, but paper handed all of them for a point or two. This...

Here comes the cavalry. PPT got the memo. LOL.

Good chance we have the bottom now. Maybe 5480/5500.

I would think so, yes. Just don't like the risk/reward down here. Always a chance this spikes higher from here as the day is already a bit of an outlier move.

I gave up on the silly and naive idea of trading for a living a few years back ago, so it's been more of a hobby or obsession for the last few years with a small hope that maybe it can amount to something. But the results I've been having lately have re-kindled the hope a bit, so I will just...

14 point bounce off the lows. Down -1.82 %. 145.50 point range. Could be closing in on a bottom here. Difficult to say...

Zero bids. Nobody wants to buy this crap today.

8.25 points bounce off the lows after 144 points down. Weak AF.

And flat. Not taking any more risk now, but this looks like sub 5440 to me.

Not a fan of a shorting the end of a 144 point move, but there's just no bid here where you'd expect it to be. That's quite a tell. Will kill it B/E as this is where you'd expect a bounce.

Putting stop at 63. See where this goes.

Holy F. This is weak. NQ filled gap and no reaction. Shorted 63.

Let's see what happens when NQ fills the gap from Tuesday. We could be looking at a complete reversal here taking out the current weekly lows, i.e., 5438. Both longs and shorts seems risky here and I'm not playing anymore at this point. But if I HAD to trade, I'd be shorting. Preferrably on a...