Correction coming? See inverses UVXY TZA SQQQ

[KCalhoun]

Just bought 200 TZA, 200 FAZ, 100 UVXY. Roughly 20k total including earlier 7k I'm in. Small ball starter swing positions. Make it rain, baby

Though I vastly prefer daytrading, bc swings have gap risk.

 

[murray t turtle]

Be very careful. Even if we gap down Monday morning I'd be looking for a violent bounce.

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Sure could happen that way;
sure could bounce all the way down to OCT 1st or 2nd.Thats one reason i did not sell all my longs...............................................................NOT a prediction,+ not bank insured.

 

[murray t turtle]

Just bought 200 TZA, 200 FAZ, 100 UVXY. Roughly 20k total including earlier 7k I'm in. Small ball starter swing positions. Make it rain, baby

Though I vastly prefer daytrading, bc swings have gap risk.

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Exactly;
i like the gap rewards+ gap trend risk/reward is part of it.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Daytrading is helpful especially if one thinks its a turn point. Good TZA,SPXS,SPXU, TWM move.

 

[KCalhoun]

UVXY TZA looking good

 

[KCalhoun]

Doing great UVXY TZA

 

[GotherL]

We might actually see a real correction on the S&P.

It's starting to break away from the usual pattern. We have never seen 4 red days in a row in a while.

I am not super convinced we are done yet but just noting it as a possibility of a shift change.

 

[Relentless]

I'd be diligent and flatten for the inevitable spikes up. You cant time all of it but you are going to take a beating from the big swings up.

Also not convinced we are done yet anyway. Could easily meltup from here before turning back down.

 

[Nine_Ender]

We might actually see a real correction on the S&P.

It's starting to break away from the usual pattern. We have never seen 4 red days in a row in a while.

I am not super convinced we are done yet but just noting it as a possibility of a shift change.

4 red days in a row of this amplitude is basically meaningless. In fact, more meaningful is the constant sector rotation going on suggesting not much if any money is leaving markets ( which means any downside moves on NA indexes are likely going to be limited this year ).

 

[KCalhoun]

I'd be diligent and flatten for the inevitable spikes up. You cant time all of it but you are going to take a beating from the big swings up.

Also not convinced we are done yet anyway. Could easily meltup from here before turning back down.

You make an excellent point I completely agree, so I'm day trading more than swing trading because of the inevitable head fakes and reversals

 

[SammyJ]

7 down days has produced a whopping 2.5% down after 30% gain in 1999,19% last yr and 20% this yr . We should be down much more. It feels like there sucking the shorts in for the 1000 th time . Negativity growing 100 fold yet mkt is hardly down. The time to short is when were cascading down.