Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
Keep a tight stop.....
Im the opposite of how you trade, I would never never go long after a day like today, yes there might be more upside but I like to trade the opposite way, for instance Im not even thinking about going long here, all my trades today were getting rid of shorts while the market was tanking and now adding more shorts while the market is in rally mode hence my new positions in DRIP and LABD the last hour or so.....You should have gone long the russel this morning when everything looked like it was over thats when I went long LABU and sold for a 14% gain in less than 2 hours....it worked out very well, I also sold DWTI around the open and TZA around $53 as the markets started to move higher...
i think we have seen the lows ... would expect 1970 on the es next week...
Thats it, the lows are in?
1970 yes its a possibility and I welcome it very much so.....
That will help me scale out of some longs I still own (SVXY, TQQQ, LABU, GUSH, SSO)
Wait until it moves higher and then go in short again!!!
today there was a 400 point swing in the dow, now thats some great trading opportunities!!!
i'm happy to earn some risk premium by holding over the weekend. I do think we have hit the lows, monetary policy which drives the stock market will remain easy for some considerable time.
I like your style of trading, it clearly works very well for you, but my mind isn't set up to do the same.
Reading the posts 10 pages back right after the NFP dump is a total crack up. People dancing around likes apes "THE END IS NEAR!"
C'mon guys - you know this game. The entire point is to trap back and forth over and over and over until the musical chair game actually stops (if ever).
Look at this post-NFP buying on a volume chart, totally smooth:
C'mon guys - you know this game. The entire point is to trap back and forth over and over and over until the musical chair game actually stops (if ever).
Look at this post-NFP buying on a volume chart, totally smooth:
SPX 4H: Have some short positions and slowly adding. Lets see what happens Monday. Have a great weekend all.
Yeah im actually starting to think there might be justification for the bull case even though i was wildly bearish a couple months ago.
Pessimism indicator is already as low as it was in 2008, that alone tells me there will be no mass sell off, anyone answering those surveys saying they are bearish is already out of the market, which means there is no panicky sellers left. I wouldnt be at all surprised if we put in a christmas rally here and close the year back near the highs.
With that said, i still havent been willing to pull the trigger yet, im looking for this bottom from the panick low to really establish itself before i go long all the leveraged instruments i can get my hands on, as i see alot of violent chop here until it does.
At this point im just waiting for the last of the permabulls to be cleared out, when i see Rickshaw throw in the towel i will know we have hit a definitive bottom.
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[QUOTE="Max E. Pad, post: 4187519, member: 267088"
At this point im just waiting for the last of the permabulls to be cleared out, when i see Rickshaw throw in the towel i will know we have hit a definitive bottom.[/QUOTE]
You're too late, I'm afraid. RM has been absent for a few weeks I believe. i960 played this very well...while I was just closing a few puts here and there, he was adamant about being long...my problem is I don't focus as much on the S&P and so other indicies I look at were already taking out the August lows. Of course, I should know that TPTB love to parade around the successful double bottom re-test "the low's are in" and then the icing on the cake is that the economy is so sluggish that ZIRP is here to stay (let's all gun it higher)...Trap and harvest is definitely the name of the game...it's also very important that it's now Q4 and the front running algo's were selling off all the dogs at the end of Sept...it is very logical, albeit the intra-day action is so skittish and whipsawing that I'm never one to believe that any move is iron clad...
At this point im just waiting for the last of the permabulls to be cleared out, when i see Rickshaw throw in the towel i will know we have hit a definitive bottom.
[/QUOTE]You're too late, I'm afraid. RM has been absent for a few weeks I believe. i960 played this very well...while I was just closing a few puts here and there, he was adamant about being long...my problem is I don't focus as much on the S&P and so other indicies I look at were already taking out the August lows. Of course, I should know that TPTB love to parade around the successful double bottom re-test "the low's are in" and then the icing on the cake is that the economy is so sluggish that ZIRP is here to stay (let's all gun it higher)...Trap and harvest is definitely the name of the game...it's also very important that it's now Q4 and the front running algo's were selling off all the dogs at the end of Sept...it is very logical, albeit the intra-day action is so skittish and whipsawing that I'm never one to believe that any move is iron clad...