BS Move Today
- Thread starter Cpt Power
- Start date
:eek: great call. seasonality about to come into play here. retalers got crushed today, hmmm me thinks a decent (5% + possible) near..Remember folks this mkt has not had a 10% + correction in over 3 years. eqt trader I look for 100% up from here post to shortly follow this post. good trading to all
sorry I meant 5% + correction
While we never had a 10% correction, we didnt have >20% rise in short time as well (after the 2003 move). Example N225 adavnced 40% since August. If we have had these kind of moves a 10% correction is warranted.
So why do people keep repeating this statement over and over that we didnt have 10% correction. Even CNBC keeps talking about this. BS.
Lot of people have forgotten the fact that You can also make money on the up and not by only looking to short for pennies all the time.
So why do people keep repeating this statement over and over that we didnt have 10% correction. Even CNBC keeps talking about this. BS.
Lot of people have forgotten the fact that You can also make money on the up and not by only looking to short for pennies all the time.
I'm sorry I wasn't implying that I have been short since '03, I have made decent coin being long, but now I am 80% + or - short and will be thru the elections. I have been long gold and will remain so..long only is for mutual funds.
Nice call.
Some weird shit today-- mega-divergences everywhere. My only regret today is not leveraging even more but whatever tommorrow is another day. Trading really is funny sometimes, frustrating sometimes, sometimes boring (actually alot) sitting on hands 90% of the time ain't easy, and sometimes terrifying.
Actually looking at the pattern of the market moves last two years, this is hardly suprising.
Most of the times when early hours started with a bang it was invariably met with late day selling to bring it back down and curb the enthusiasm. Big moves have come on the days following it when the market started tepidly. I wouldn't be suprised by EOD tomorrow if the market recovers all the gains lost today.
last melt down has left deep scars that will take a decade to heal. Until then we will continue to see this high level of pessimission with people jumping in and out quickly taking profits/losses after each move up/down.
Most of the times when early hours started with a bang it was invariably met with late day selling to bring it back down and curb the enthusiasm. Big moves have come on the days following it when the market started tepidly. I wouldn't be suprised by EOD tomorrow if the market recovers all the gains lost today.
last melt down has left deep scars that will take a decade to heal. Until then we will continue to see this high level of pessimission with people jumping in and out quickly taking profits/losses after each move up/down.
i'm relatively bullish position play-wise (intraday i take what the internals tell me) for a # of reasons, but i love the way the market shrugs off higher oil and gold, and all the naysayers who call every rally "window dressing" etc.
all this bearishness is great for a bull market. it's not yer daddy's bull market (tran, dow, gold, commodities in general, and er2 have led) but it's a nice one nonetheless
the other day (last week) the friggin put/call ratio on 41 strike q's was like 5 to 1.
THAT is the kind of thing i want to keep seeing on minor selloff, bears being roped in.
a move for the dow down near 11k would be really good. i'd especially like to see some dow weakness, while seeing some NQ relative strength on that selloff to really confirm the rotation is caught up
all this bearishness is great for a bull market. it's not yer daddy's bull market (tran, dow, gold, commodities in general, and er2 have led) but it's a nice one nonetheless
the other day (last week) the friggin put/call ratio on 41 strike q's was like 5 to 1.
THAT is the kind of thing i want to keep seeing on minor selloff, bears being roped in.
a move for the dow down near 11k would be really good. i'd especially like to see some dow weakness, while seeing some NQ relative strength on that selloff to really confirm the rotation is caught up