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Got rid of a few at 66.8K, and plan to liquidate the rest near 70K. But, really, if we were planning on coming right back up to where we started the session, what a friggin' waste of energy for nothing, right? :rolleyes: Traders are not only greedy, but extravagantly wasteful as well.

I sure hope so, but for some reason I have this nagging feeling that we might just chop around between 70k and 64k. But I'll be there with ya if she decided to rip higher. :)

I guess the funds are settled already. The damn thing is breaking out higher. :) My initial target is at 66.8K

But once it's reserve status is removed, it just might collapse after all. And I'm willing to bet that's what will ultimately happen within the next 10 years. The reason is simple IMO. It used to be unthinkable to even speculate that the US could ever default on its debt. Is that still frowned...

That might be true, but at the same time, how much is that actually attributed to their trading skill and not just dumb luck? With Uncle Sam providing the backstop these days, ya don't need to be a whiz to make money. But how did they do in 2022, let alone in 2008?

Well, I'm not saying we will reverse and go straight into a full-fledged bear market, but something feels very different this time around. Call it a sixth sense. I expect a deeper pullback than normal, somewhere in the magnitude of 8%-10%, which would put us at around 4800-ish for the SPX (and...

Dude, I've been trading ES since 2002 and let me tell you something. In a bear market, that's exactly what the bulls will end up with, a cyanide pill, to get them out of their friggin' misery. You obviously haven't learned your lesson during the 2022 bear raid, even though you've been here since...

So we did go down to 59k today. I ain't sure this qualifies as a genuine pullback. I was hoping it would take a few days to get there. But now that it pulled back, this could possibly give an impetus to another leg up. Not sure it will go straight up to 87k-90k as I wrote above, but I'm pretty...

Go vote: Who thinks S&P500 will reverse in the next 10 days (2 weeks)? https://www.elitetrader.com/et/threads/vote-who-thinks-s-p500-will-reverse-in-the-next-10-days-2-weeks.378658/

I say we're about to reverse here, but you might think otherwise. Would like to hear your rationale on WHY or WHY NOT.

Just put in 2000 point tail. We'll be rocking higher now. All hands on deck!

We're way oversold ATM. I think we will likely head back up to 64K and very possibly higher.

Now that dude's smart. He probably got roasted in 2022 and he ain't taking no chances this time. :)

Added another batch of long just below 62K

Always stick with your original plan.

It's a scam for sure, but that long wick you see below ain't no stop running. It's simply pump and dump, only in reverse. These violent shakeouts are usually done by fat fingers. But the thing is that I see this more frequently here than anywhere else. Somebody should look into this. But then...

Sneaking back in long @ 66.9k

Looking back now, I should have known that the price would stop and reverse at 65150. :banghead: Still such a noob!

Man, why didn't they push it down a bit lower to 64.5k. That's where my buy stop is. :( I don't think they'll push it back down again.

OMG Did you just catch that?? That's what you call panic selling. No, not a scam wick, but noobs getting chills up their ass. :D