Bears back finally? S&P drops to near 3000

KCalhoun said:
Good job, agree re intraday vs swing best. Up today, I trail stopped out of most inverses midday to lock profits. SCO short crude one of the best. Even did a single winning momo HTZ daytrade in 2.08 out 2.34 thrilling lol.

Thx hafez for nudge re intraday, makes sense vs swings. Fwiw I tightened trailing stops near midday bc often there's midday reversals, worked great today.

Update: I did rebuy small size inverses right before the close for overnight hold
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I would be cautious about shorting oil right now. I still think WTI will make $50 by the end of the summer. As for all the other stuff I am actually liking inverse ETFs today and I might go in with some tomorrow. I have to be careful though... don't have any day trades left and so I can't bail if things suddenly get bullish again.

Everything lost me money today except COCP which gave me a very small profit. MEH. Still holding SQ because I like their service and product and also QQQ because hey, it's QQQ. And the COCP cause I don't think it is finished yet.
 
GrowleyMonster said:
I would be cautious about shorting oil right now. I still think WTI will make $50 by the end of the summer...
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I disagree. We're already hearing rumblings about possible reclosures in states due to the huge spike because of all the unmasked people, and we're already on the August contract.
 
Overnight said:
I disagree. We're already hearing rumblings about possible reclosures in states due to the huge spike because of all the unmasked people, and we're already on the August contract.
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Perfect time for daytrading since no overnight risk of adverse gaps either way due to headlines.

Btw it would be unsurprising to see the market do a mean reversion bounce tomorrow
 
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Overnight said:
I disagree. We're already hearing rumblings about possible reclosures in states due to the huge spike because of all the unmasked people, and we're already on the August contract.
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Well, you may have a point, at that. I just don't trust it. Everybody is producing near or below break-even. The price has got to move up or else.
 
S2007S said:
I have DRIP. Sold off about 15% of my position today.
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Thx, looks like a great chart for crude short too, and less $ than sco, like srty is to TZA..... appreciate it

Side note: I find the deafening silence of the permabulls who trolled my inverse posts hilarious. Go bears!

dripjun.jpg
 
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