closing that here for +20
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Hey guys, before I dip out for the evening I figured I better throw this in... because I'm such a nice guy. 
Regardless of whether or not this run continues tomorrow... I'd be very careful tonight, because you can bet your ass, being up 62 points already, there will at some point be a very sharp down-spike that will blow your stops out and they will execute at a price a lot lower than they are set at. And there won't be any warning whatsoever.
My guess... before Europe opens or shortly thereafter. My better guess... probably after. But there will be some sharp down-spikes tonight. 24 point type.
->g/l
Regardless of whether or not this run continues tomorrow... I'd be very careful tonight, because you can bet your ass, being up 62 points already, there will at some point be a very sharp down-spike that will blow your stops out and they will execute at a price a lot lower than they are set at. And there won't be any warning whatsoever.
My guess... before Europe opens or shortly thereafter. My better guess... probably after. But there will be some sharp down-spikes tonight. 24 point type.
->g/l
Hey guys, before I dip out for the evening I figured I better throw this in... because I'm such a nice guy.
Regardless of whether or not this run continues tomorrow... I'd be very careful tonight, because you can bet your ass, being up 62 points already, there will at some point be a very sharp down-spike that will blow your stops out and they will execute at a price a lot lower than they are set at. And there won't be any warning whatsoever.
My guess... before Europe opens or shortly thereafter. My better guess... probably after. But there will be some sharp down-spikes tonight. 24 point type.
->g/l
Asia has taken it in stride. Let's see how Europe swallows it. At least we have a RTH buffer tomorrow before the dreaded Tuesday CPI crap. Watch those volumes!
That was seriously the fastest bailout I've ever seen, as if "BTFP" already existed and they were just waiting for the first bank to go belly up. Now Goldman is guessing the Fed will put hikes on hold. Futures are skying...
I don't pay much attention to news, but I would opine here that The Fed believes that they are at least partially to blame for the SVB collapse. I realize that SVB wasn't hedging risk, but according to reports, they had invested customer deposits in investment grade government debt and The Fed quick rate increases caused those instruments to decline in value quickly. I look for rate increases to pause.
It is funny in a way. I have been saying for the last 8-12 months that FOMC was on a tear, and will do what they can to stop inflation with rate increases, and the PPT was gone ages ago. That the FOMC does not care what their decisions meant for the stock market because they got caught with their hands in the cookie jar back in 2021 by trading stocks for their own benefit. The PPT paradigm was gone.
But now with these banks breaking because of those policies of not giving a shit about the stock market? They may truly have to reassess that attitude in the new paradigm of not the stock market breaking, but the financial system breaking. These homies now face the consequence of trying to save the US economy, and not their own portfolios, for the first time in their careers.
Shit jerks!
there ya go.Hey guys, before I dip out for the evening I figured I better throw this in... because I'm such a nice guy.
Regardless of whether or not this run continues tomorrow... I'd be very careful tonight, because you can bet your ass, being up 62 points already, there will at some point be a very sharp down-spike that will blow your stops out and they will execute at a price a lot lower than they are set at. And there won't be any warning whatsoever.
My guess... before Europe opens or shortly thereafter. My better guess... probably after. But there will be some sharp down-spikes tonight. 24 point type.
->g/l
Nice.
What next from here?
Wobbly/sensitive/thin markets so far in ETH. Personally, I'm leaning long, but, I'm thinking we have a good chance at touching Friday's Close in RTH first.
So, not chasing any longs. Yet.
That was fast. And why I wasn't interested in chasing a long.
Today is one of those days that may be outright silly to attempt to predict in advance as there's just way too much uncertainty at the moment. It's my belief that markets are periodically predictable/orderly and periodically more chaotic or unhinged. Still moving within predictable boundaries to some extent, but hard to predict. Right now we're probably more within the latter mode.
Unless you know something, it might be best to wait for the initial 15/30 minutes today and some structure to materialize before initiating any trades. The opening will probably be whippy.
Today is one of those days that may be outright silly to attempt to predict in advance as there's just way too much uncertainty at the moment. It's my belief that markets are periodically predictable/orderly and periodically more chaotic or unhinged. Still moving within predictable boundaries to some extent, but hard to predict. Right now we're probably more within the latter mode.
Unless you know something, it might be best to wait for the initial 15/30 minutes today and some structure to materialize before initiating any trades. The opening will probably be whippy.