Lets just see, this reminds me of 2001.
Hard selloff in the last 30 minutes
- Thread starter myminitrading
- Start date
reminds me of June 8th 2007
Shoot I forgot options experiations next week, the markes are always up that week.
Wow! Too freakin' funny. I have all my screens shut down except for Bonds (which are barely moving). But about an hour ago I got bored and started selling 1 and 2 lots in the YM (which I haven't traded 10 times the last 2 years). I sold them from around 350 to 362 and covered the last couple at 350. All and all I made around $400 on 7 a side. Just video gambling type of thing.
When I saw your thread I thought "oh, shit I should've stayed with those YM's!" I am so freakin' glad I got out!! I would've been so pissed to drop 2k in some contract that I have no axe to grind.
I'm completely agnostic at this moment on stocks. I hate 'em. But that's always. Right here and now IMO the market is going to make new highs. The final straw. What's a better way to get more folks in at record highs then to squeeze shorts on higher interest rate news. Stocks have been disconnected from rates for four years. I suspect that disconnect continues for a couple of more months and then a vicious reversal 4th quarter from those recently prevalent year end explosions.
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Yes the hard selloffs on 2-27/month following reminded me of 2001 also, a bear market for sure.
This looks more like a correction in a bull trend[50,200dma up]
REmember my last trade, last hour,2-27;
got short in ES, an shortly ES started stalling on downtrend.coveredwith 1 point.