Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
yeah the "first touch" theory...and then you can sometimes get the second touch, especially with minimal momentum...
Yeah, i like selling double tops or buying double bottoms but im always suspect of triple tops or further, cause it tells me the market is going towards that number like a magnet. Plus the trade becomes crowded the more times it hits that top. Plus the weak hands get washed out on the first down move.
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hmm, news bit about Glencore stock price...now at 129, was 68 on 9/28...that was really the inflection point in the market...a few of the indicies were below their Aug lows and S&P was very close...something must have been done behind the scenes since Glencore was a pretty big threat.
I think this is why trying to do a long term short (however one wants to play it) can lead to real challenges...Basically, the market starts to lose "range", but stair steps to new levels and deep retracements disappear...On the flipside, longs can scale in many times and still get out of their trades on numerous bear squeezes the entire ride lower...so volatility works in their favor as well...just thinking out loud as I am bored out of my skull.
I think this is why trying to do a long term short (however one wants to play it) can lead to real challenges...Basically, the market starts to lose "range", but stair steps to new levels and deep retracements disappear...On the flipside, longs can scale in many times and still get out of their trades on numerous bear squeezes the entire ride lower...so volatility works in their favor as well...just thinking out loud as I am bored out of my skull.
Definitely alot easier to be long then short, though im alot more accurate from the short side.
Especially with SSR rules so many moves down turn into massive short fuckjobs the second they trigger SSR. Ive basically just made it a rule to take most of my stock off at 10% down when i short it cause its happened too me far too many times, look at what happened with PACB yesterday, nailed the top, luckily i got out at 7.15, but then it turns literally almost to the tick as soon as it triggers SSR at 7.02, and it continues to grind higher today cause its still on SSR for another day.
Long is harder for me because I believe, since 2001, that most mainstream stocks in everything except raw industry, transportation, utilities and some patented microelectronics and biotech are complete shams, scams, charades and of very little value to me or the world economy and that the industry they trade is pure legalized thievery...so shorting is more second nature where long is holding my nose and making some quick money.
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