ES Journal - 2019/2020

[QTrader20]

That sell-off on FSLY tonight, you wouldn't think that would be a big deal, but it took a lot of stuff down in the AH's.

They filed an 8K after the bell tonight and re-stated their revenue forecast from like 73M to 71M.
I mean that's friggin nothing and the damn thing dropped 30%. And it took stocks like Twilio and DDOG with it.

This is interesting. No opinion, but the fact that one report can move multi-billion dollar companies....

I dunno, but I suspect there's a lot of overnight Robinhood "traders".... that just became Robinhood "investors".

Oh well....
Good.
Markets never change.

One thing's for sure though... expect some serious volatility in the naz tomorrow.
At least in the first hour or so.
Serious $'s will be won and lost.

NQ is good, but the big action will be on certain individual stocks.
If you can read a chart in one minute intervals and play accordingly... FSLY is gonna be wild tomorrow at the bell. Avoid the pre-market on it though. Only use it for tells.

The pre-market high will be an important level to note for later in the day.
-vz

I've no doubt many day traders including Robinhood, ET and Reddit became "investors" right now...

 

[QTrader20]

My past experience from reading charts tells me that NQ might drop to level 11880 (currently trading at 11961) sometime tonight/tomorrow... Meanwhile, it might just be a dead cat bounce right now.

NQ just hit 11887.50....

 

[syswizard]

That sell-off on FSLY tonight, you wouldn't think that would be a big deal, but it took a lot of stuff down in the AH's.

Yeah, well no surprise there....I had a feeling that all of the hype and hoopla over that stupid Chinese app TikTok was going to end some time and that "someone" was going to get hurt.
https://www.marketwatch.com/story/f...-as-anticipated-11602707617?mod=mw_quote_news

 

[vanzandt]

NQ just hit 11887.50....

One word of caution, this whole FSLY thing could be a false flag leading into a blow-off top.

Like I said, this is interesting.

Don't go all in, that's 4 sure.

 

[vanzandt]

Yeah, well no surprise there....I had a feeling that all of the hype and hoopla over that stupid Chinese app TikTok was going to end some time and that "someone" was going to get hurt.
https://www.marketwatch.com/story/f...-as-anticipated-11602707617?mod=mw_quote_news

Either way.... trade what you see. Its merely another thing.
Don't get too biased one way or the other.

 

[Laissez Faire]

Playing the odds now as I see it. Long from 83,50. Initial stop @ 60, but may move it if the trade goes in my favour.

Make that 55 on the stop just in case. Looks like I was wrong on this one, though.

 

[Laissez Faire]

Make that 55 on the stop just in case. Looks like I was wrong on this one, though.

As I'm present and monitoring this - I'll adjust it to 48. 50 should offer at least a bounce.

Obviously not quite how I envisioned this to play out, but I still think we're seeing a retrace here. The last 'major' legs down have been around 70-90 points and we're there now.

EDIT: And stopped for a - 35,50 point loss. Let's see if I got stopped out near the low or not - but it starts looking like more than just a retrace if we go much lower here.

 

[syswizard]

Well, now it's apparent......the Fed didn't take away the punch bowl, but Pelosi did. Add to that a second wave of corona virus and this is just a perfect storm to support the Democrats for a big win in November.
So now it looks like we are not going up till the election.

 

[vanzandt]

Who's buying the dip today?

I see the XLF is back at $24.50. Right where it was in June
The massive up move to $25.50 was fun while it lasted.

That 200 day better change direction and start heading north or else...
....only $0.20 away from the dreaded 50/200 death cross.

 

[EON Kid]

Who's buying the dip today?

If I had to guess - a bounce after the open to 3465, followed by continued selling for a close below 3400 today