Fading today's rally.... Trade it or Fade it?

[Sekiyo]

Give me the ultimate top or bottom, and I shall go all in!

Proud unicorn owner I see

 

[Nine_Ender]

When horrible, horrible news comes out, and the market freaks out momentarily but then goes bigly higher, my witnessing experience has always been that such is a huge bull sign. But we are in a huge bear market, so who knows. Tread with care though, the bottom will be put in at SOME point, and then it will go radically higher!!!

I don't see inflation cresting as "horrible, horrible news". CR +10.2%, CMMC 6.3%, UVXY -4.8%. Not sure why "price action" guides one to trade UVXY today.

 

[SoyUnGanador]

I don't see inflation cresting as "horrible, horrible news".

I dunno about "cresting", everything I read says they were bad numbers:

https://finance.yahoo.com/news/horrible-cpi-bracing-jumbo-hike-130817185.html

https://finance.yahoo.com/news/inflation-grocery-prices-jumped-130-in-september-160403150.html

The market sure seemed to think they were bad, hence its cratering before this remarkable rally.

What is your read on the numbers? They were "cresting" so really they were good?

 

[KCalhoun]

i just trade price action; crushed uvxy premkt, then tqqq/soxl on rally, now flipping back to inverses if they ever fkng bounce

i dont care about inflation or the economy or what it all means, im a price action trader looking to make money off volatile moves. re what it all means, zero fucks given, to quote dest Ima trader, i hustle wall street

 

[murray t turtle]

I dunno about "cresting", everything I read says they were bad numbers:

https://finance.yahoo.com/news/horrible-cpi-bracing-jumbo-hike-130817185.html

https://finance.yahoo.com/news/inflation-grocery-prices-jumped-130-in-september-160403150.html

The market sure seemed to think they were bad, hence its cratering before this remarkable rally.

What is your read on the numbers? They were "cresting" so really they were good?

%%
Looks like the market hated them.
But like Art Cashin says for years/ ''the shorts help fuel the rally ''[I cant prove it but i think that UBS floor manager @ NYSE is worth about $10 million]

 

[GotherL]

You gotta be kitten. ES up almost 200 points from open. This might just become the biggest intraday bounce in stock market history.

 

[SoyUnGanador]

You gotta be kitten. ES up almost 200 points from open. This might just become the biggest intraday bounce in stock market history.

Haha, yea, it RIPPED higher with a vengeance. That was definitely a HARD bounce! Not kitten!

 

[Ayn Rand]

This is an election bounce. Early voting starts on Monday. Lot of "wokes" on Wall Street.

 

[M.W.]

Radically higher? Based on what assumptions? That people have a lot of money in their pockets to buy overpriced, low quality products that are designed to last for a very short time? I don't see that happening for many years to come. We must be living on different planets. In my province 70% of the residents can't make their ends meet. We hit the wall at some point and need to push the reset button.

When horrible, horrible news comes out, and the market freaks out momentarily but then goes bigly higher, my witnessing experience has always been that such is a huge bull sign. But we are in a huge bear market, so who knows. Tread with care though, the bottom will be put in at SOME point, and then it will go radically higher!!!

 

[M.W.]

Sure, we all send you a message the moment the top or bottom is in, so you can go all in. CLOWN.

Market has much more downside left, like a drop of 50% or more. In the long term, I would go bearish, BUT in the short term, market could rally to squeeze out the shorts. I never play these kinds of intermediate game... Give me the ultimate top or bottom, and I shall go all in!