Can't believe the market lost +4% today!

[maxinger]

LOL, indeed. But something tells me just a FEW more details are needed to implement maxinger's strategy LOL.

yesterday, Asian / Eur / US index futures (and crude oil) were down.

although the general direction was down,
different index futures went down at different times ;
some went down earlier, some later (laggards).
In that sense, they didn't go down in tandem.
The market I like most is when the market moves in tandem.

anyway, an Intermarket correlation study helps cut down fake / false signals.
have the various Asian/Eur/US index futures charts displayed at the same time for the Intermarket correlation study.

 

[ET180]

You don't have to have a high delta position on in the market at all times. If you don't have high conviction (and right now, the market itself does not have high conviction...so if you do, then you must know something that the market does not), then just trade light.

LOL, indeed. But something tells me just a FEW more details are needed to implement maxinger's strategy LOL.

Here's another important detail. Market can only go 3 directions. Up, Down, or Flat. That's it.

 

[vanzandt]

I did and there were days like yesterday and May 4th that screw you just the same

Hahahahaha
Not if you've been around awhile.
Yesterday was Soooo predictable.

If you didn't short at the close... you need to quit the game.
Or just keep losing money until you figure it out.

 

[TheDawn]

Hahahahaha
Not if you've been around awhile.
Yesterday was Soooo predictable.

If you didn't short at the close... you need to quit the game.
Or just keep losing money until you figure it out.

yeah you say that now. Hindsight is always 20/20.

 

[KCalhoun]

Hahahahaha
Not if you've been around awhile.
Yesterday was Soooo predictable.

If you didn't short at the close... you need to quit the game.
Or just keep losing money until you figure it out.

Exactly. I bought UVXY eod yesterday, and today was easy money trading UVXY SQQQ charts.

 

[vanzandt]

And they picked Target!! Like seriously??!! The freaking company's weight is only 0.29XX something in the entire index. And it was able to bring down Walmart and Amazon!! What does Amazon have anything to do with Target??!! It's not even operating in the same segment, one is brick & mortar and the other is online retailing. The entire index was down except for three companies. https://www.slickcharts.com/sp500 That was absolutely ridiculous!!

I don't want to sound like a conspiracy theorist but today looked like a shake-up by the MM's against the retail traders. The level that the market stopped at, 3915 for S&P500 is just way too arbitrary. It's neither a fibo nor a support/resistance level. Why stop there? Why not 3858 which is a previous support of 2 days ago? Why not the fibo level of 3816? Why stop at 3915? Why not higher at 4000? I don't have the books but I bet you there were a lot of retail positions at 3915. It's just too suspicious that the market turned right around at 3915 clean.

They picked Target because it confirmed Walmart.
Whoever in this thread wrote: "if Costco misses" .... truer words have never been spoken.

You're worried about market weight of a stock in an index.... and you need to be worried about the bigger picture.
Here I wrote this Monday night:

You can mark this post Stoney. We're at the tip of the iceberg. I don't care what the Q's do, or the S&P.... because they are controlled by six stocks at best, and those six stocks are controlled by algo's sporting and fueled by 100's of billions of aum battling each other out... but hear what I say.... in the real world this stuff is gonna start hitting home real soon with 70% (+/- a bit) of the US population.

Home Depot, Walmart, Lowes, and several others will all report soon.

You watch.... if they haven't already, they are going to lower their forecasts.... and watch out below. Oh they'll all say "the consumer is strong"... because that's what they do... but watch how they lower the estimates.
Mark the post.

We're going lower Stoney.
~vz

Don't let the forest blind you from the trees son.

 

[vanzandt]

yeah you say that now. Hindsight is always 20/20.

Uhhh.... no.

Posted this screenshot yesterday morning from two posts I made the night before.

You can have the picture.
Make it an nft and hang it on your wall.
Or digital wall.
Whatever.

 

[TheDawn]

They picked Target because it confirmed Walmart.
Whoever in this thread wrote: "if Costco misses" .... truer words have never been spoken.

You're worried about market weight of a stock in an index.... and you need to be worried about the bigger picture.
Here I wrote this Monday night:



Don't let the forest blind you from the trees son.

I don't look at the fundamentals because they can be interpreted however they want. This time they just happen to go for retail and use it as an excuse to tank the market. If the market really wants to go up, I have seen them brush off far worse earnings or whatever statistics just to prop the market up.

 

[vanzandt]

I don't look at the fundamentals because they can be interpreted however they want. This time they just happen to go for retail and use it as an excuse to tank the market. If the market really wants to go up, I have seen them brush off far worse earnings or whatever statistics just to prop the market up.

Omg...
The more you write... the younger you show you are.
>>>Water seeks its level son. Over time.
Search "lemonade stand" under my moniker here.
Or I'll put it to you like this.... would you buy a lemonade stand that makes $1000/year in profit for $200,000?
Because that's exactly what you've been doing.
Duh.

 

[vanzandt]

I don't look at the fundamentals because they can be interpreted however they want. This time they just happen to go for retail and use it as an excuse to tank the market. If the market really wants to go up, I have seen them brush off far worse earnings or whatever statistics just to prop the market up.

One more thing then I'll let it go....

Have you ever heard that old saying "It's all fun and games until someone gets poked in the eye?"

Well, when you have fuel at $5 and climbing, housing, insurance, food, medical costs, and utilities climbing even faster... you don't need a PHD in math to put 2 and 2 together to figure out that 70% of the American (consumer driven economy) is getting poked in the friggin' eye.

Good luck to ya though. For real.
You would be wise to learn however... pigheaded stubbornness when it comes to markets, will get you nowhere fast but to absolute zero.
Forest>>> Trees.