Catching a falling knife

KGTrader4 said:
Took my short ETFs off and bought back covered calls in a timely manner this morning, took $3600 in profits, 2400 of it in 2 short positions on SDS. Might buy those back later in the day

Before anyone asks, the reason I did SDS and not SQQQ, is that I find SQQQ is a little too much leverage for me, I get scared out too easily. With SDS I find it easier to stick with my convictions and eliminate the emotional, hunch, aspect.
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good stuff bro. i went balls to the walls on spxl this morning and got paid!
 
It was an amazing come back. I just don't understand what it is fundamentally based on? But I have noticed the markets seem to mirror the GBP move lately. Maybe that's it but it seems strange the US markets would come back because the Truss government might roll back tax cuts.
 
Just a rubber band snap IMO. So much pessimism. Now the news is out and fully digested. So the VIX backs off, market snaps back.

Bought back my covered call, booked $200 gain
 
nitrene said:
It was an amazing come back. I just don't understand what it is fundamentally based on? But I have noticed the markets seem to mirror the GBP move lately. Maybe that's it but it seems strange the US markets would come back because the Truss government might roll back tax cuts.
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i don't care about news and what not. as a day trader...this morning 10/13/22...i saw a giant red ass candle stick on futes around 8:30 am est. there are 2 ways to play this. either spy would continue to go down during the open or fill the gap back up. i played the latter and got paid.
 
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