ES Journal - 2023/2024

schizo said:
It's obvious you've never seen a proper bear market. There is no bargain to speak of in a bear market. Those violent short covering rallies are only a dead cat bounce that ultimately leads to a further drop later.

That's not to say that we're in a full-fledged bear market. It's even entirely possible that we could reverse and go straight back up with FOMC interest policy reversal.

But do pay attention once in a while to those who have been around a lot longer than you. If you don't watch your ass, you could lose everything in a bear market. Enough said. No more from me on this topic.
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OMG, Im not calling a damn bottom. What are you saying? I'm literally saying that a market doesn't just fall like this leaving gaps along the way. I've been in the damn market since 2007. You might not believe it, but I don't really care. Yeah it's totally normal to wake up to a 5% drop overnight in the nasdaq. In 2002 it rarely gapped lower. There was one stretch late in the run, but never like this. Most of the damage is done by those days where it opens flat and then drops throughout the day or as you said, getting the fake green days and then dumping the next day. I can't remember a time where it would just open down like this and never make some kind of comeback, EVEN IF IT DOES EVENTUALLY GO LOWER.
 
schizo said:
As they say, talk is cheap(er). :D
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I honestly believe we're going higher.

I got a call today from a friend who has millions under professional management. You know what they told him? Brace for a 30%-45 draw-down.

Know what I told him? They're full of shit.
 
Omg. You've gotta use common sense here. Two weeks ago the buy orders were flowing in hand over foot. Now what has changed? Politics? No effing way.

This is an algo driven sell-off geared to scare the weak hands. It's gonna reverse, and it's gonna do it hard and fast. Then ya'll will be sitting there scratching your heads wondering what to do... as it keeps climbing.

Jmho..
 
mervyn said:
no, go look at your charts again.
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Again August 2015, Covid, find me some other times where this happened? I am talking about OVERNIGHT GAPS. 2022 had big falls during the actual trading day.

The only big gaps in 2022, February 24th (When Russia Ukraine conflict started) that got a V very fast.
And Monday June 15th that was part of the bottoming process, before a violent bear market rally.
 
vanzandt said:
Omg. You've gotta use common sense here. Two weeks ago the buy orders were flowing in hand over foot. Now what has changed? Politics? No effing way.

This is an algo driven sell-off geared to scare the weak hands. It's gonna reverse, and it's gonna do it hard and fast. Then ya'll will be sitting there scratching your heads wondering what to do... as it keeps climbing.

Jmho..
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Of course it will. This is just silly.
 
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