Here we go. Have a great weekend you all!
http://www.cnbc.com/2015/10/02/us-stocks-open-sharply-lower-after-jobs-miss.html
http://www.cnbc.com/2015/10/02/us-stocks-open-sharply-lower-after-jobs-miss.html
Dow, S&P close up more than 1%, post biggest reversal in 4 years
- Thread starter Michael J. Fletcher
- Start date
Should've, would've, could've.
- GOOGL October 02 650.00 weekly calls.
- Day low $0.05
- Last sale $6.66
went long pretty much at the bottom, but sold way too fast into the first supply area....cons of trading only 1 contract =p
Nowhere did I have in my thought that the indices would break a gazillion resistances and close at the high. But what a beautiful day,this is why I love the markets, they always keep me guessing.
Then went long NQ near the resistance area because PA was telling me we were going higher despite selling pressure. Got long, placed stop to preserve profit, I come back a few minutes later, and see my stop was taken out and that the NQ ripped up like 30 points. LOL.
Sometimes I question if the market sees my stop, and targets it.....but if I don't place a stop... your bound for doom!
Nowhere did I have in my thought that the indices would break a gazillion resistances and close at the high. But what a beautiful day,this is why I love the markets, they always keep me guessing.
Then went long NQ near the resistance area because PA was telling me we were going higher despite selling pressure. Got long, placed stop to preserve profit, I come back a few minutes later, and see my stop was taken out and that the NQ ripped up like 30 points. LOL.
Sometimes I question if the market sees my stop, and targets it.....but if I don't place a stop... your bound for doom!
I agree...but that is a pretty big intraday reversal. Could've made a killing in options.
I'm curious as to how all the traders on this forum traded it. Did you expect this big of a reversal? Were you up/down for the day? Did you allow your mind to be opened enough for this reversal? Did you get in long at bottom and hold it all day? Or were you selling when market kept going higher??
On a side note, paper kept bidding it higher after the cash close. Interesting.
On a side note, paper kept bidding it higher after the cash close. Interesting.
I didn't get to trade any of this today - which sucks, but it wasn't all for nought as I had been picking up Oct9 OTM ES calls (1960, 2000) throughout the week and prior which I still have open.
From looking at the action there were a million opportunities to get on this comet with probably the best one around 10:30ET.
From looking at the action there were a million opportunities to get on this comet with probably the best one around 10:30ET.
Could have turned into a strong trend day, though. I think that's what most were expecting, and so were probably shorting that area at 10.30ET as a pullback into a potential further drop.
Did you expect this big of a reversal?
Yes
Were you up/down for the day?
UP
Did you allow your mind to be opened enough for this reversal? Did you get in long at bottom and hold it all day?
In near the low. scaled out at +10, +20, +30
Or were you selling when market kept going higher?
No. I knew we were gonna keep going up
Yes
Were you up/down for the day?
UP
Did you allow your mind to be opened enough for this reversal? Did you get in long at bottom and hold it all day?
In near the low. scaled out at +10, +20, +30
Or were you selling when market kept going higher?
No. I knew we were gonna keep going up
I'd imagine everyone on ET nailed it.