Has the correction begun?

dozu888 · Jan 24, 2020

trader1974 said:
Are you sure?

lol why did you not ask earlier.

SunTrader · Jan 24, 2020

Clubber Lang said:
Really?
Not a single investor in the S&P, Naz, or DOW that bought anytime since 1896 and held have lost money...

LMAO at that nonsense. That "thing" call the depression kinda lasted ...... decades.

Oh and there are always people selling at every bottom. Every bottom. Not just 1929.

There is this other "thing" called time value of money or opportunity cost - to holding and holding and holding.

How is holding GE, for example, nowadays?

SunTrader · Jan 24, 2020

nooby_mcnoob said:
Blue = fed liabilities (more blue = more free money). You can see the fed has double topped.

I think the top might be in, but it all depends on where the blue line goes right now.

View attachment 217587

Here is assets (otherwise known as QEeeeeeeeee) by themselves. Hit resistance. Not really just for the hell of it I drew that off a prior bump in the downhill road that happened to of lined up.

But note ROC on bottom of chart showed turn - indicator double top/divergent lower 2nd top in late Dec' 18 before data itself double topped 3 weeks later Jan 15 '20:

nooby_mcnoob · Jan 24, 2020

SunTrader said:
Here is assets (otherwise known as QEeeeeeeeee) by themselves. Hit resistance. Not really just for the hell of it I drew that off a prior bump in the downhill road that happened to of lined up.

But note ROC on bottom of chart showed turn - indicator double top/divergent lower 2nd top in late Dec' 18 before data itself double topped 3 weeks later Jan 15 '20:
View attachment 217607

Indeed

Clubber Lang · Jan 24, 2020

SunTrader said:
LMAO at that nonsense. That "thing" call the depression kinda lasted ...... decades.

Oh and there are always people selling at every bottom. Every bottom. Not just 1929.

There is this other "thing" called time value of money or opportunity cost - to holding and holding and holding.

How is holding GE, for example, nowadays?

Who the F mentioned anything about holding individual stocks?

My statement is 100% FACT.

Overnight · Jan 24, 2020

The correction has begun. Yes.

.sigma · Jan 25, 2020

What do you mean by “correction”?

what has happen is the market is creating its range so it can oscillate around it before moving up more to new highs

Overnight · Jan 25, 2020

.sigma said:
What do you mean by “correction”?

what has happen is the market is creating its range so it can oscillate around it before moving up more to new highs

I entered the MNQ long on 3 contracts at 9238.25. That is the start of the correction. And a correction means at least a 10% drop, but in my case it will be at least 20%.

(Oh, and the fact that there's a virus running around the world now killing people might have a little bit to do with it. But not much. Nah.)

.sigma · Jan 25, 2020

Overnight said:
I entered the MNQ long on 3 contracts at 9238.25. That is the start of the correction. And a correction means at least a 10% drop, but in my case it will be at least 20%.

(Oh, and the fact that there's a virus running around the world now killing people might have a little bit to do with it. But not much. Nah.)

Virus was priced into the market weeks ago bro lol

But nice trade, I am looking into micro-futures as we speak, very appealing and I love the extended hours. I live in Hawaii so market hours are out-of-whack here, markets open a 4:30am, so trading micros around 6pm is very nice.

Any reason you chose to short the /MNQ over the /MES and /MYM? Just curious because the /MNQ is my fav micro to paper trade so far.

Overnight · Jan 25, 2020

.sigma said:
...

Any reason you chose to short the /MNQ over the /MES and /MYM? Just curious because the /MNQ is my fav micro to paper trade so far.

Reading is fundamental to knowing how to trade methinks. I am not trading paper. I am trading real. And I am down 100 points as of today's close. Welcome to the real.

Enjoy your fucking Hawaii beautiful weather and pineapple drinks.