I Got this one wrong guys.....

ktmtrader · May 12, 2020

Reading the news about new flare ups in South Korea, Wuhan, Singapore, India and soon many parts of the US that opened businesses early, one has to prognosticate the S&P should have topped for a momentary high & is headed back to 2000. But timing is just guess work for us traders, some of us will get it right & some won’t.

hafez50 · May 12, 2020

I can assure you the downside won't be anything like feb or march . It will be a ton of ups and downs making the short side very tough . There will be an incredible amount of hype virus vaccine news through the fall causing huge rallies .

ElCubano · May 12, 2020

and they know exactly when to leak the news. day/time etc.

vanzandt · May 12, 2020

ElCubano said:
and they know exactly when to leak the news. day/time etc.

8:30EST... "New housing starts lowest in 3 decades".
8:31EST ... "Gilead says 90% of non-placebo Phase II test subjects healed!"

formikatrading · May 12, 2020

Now we're in a bigger short opportunity. Yesterday was just an appetizer.

Hotcakes · May 12, 2020

Don't fight the FED. I learned that in 2009....

Ever see a chart of Zimbabwe's stock market? Argentina? Venezuela? Their economies went to the dustbin while asset prices skyrocketed. Stimulus has been about 3-4 Trillion more then lost during the shutdown, which is coming to a close.

nillionaire · May 12, 2020

They tried their hardest yesterday and today, when the market dipped below 2900 in the premarkets, and staged some 40-50 point rallies to fake out the bears. Looks like the big drop has started. I expect to see us take out the last swing low of 2717.

KCalhoun · May 12, 2020

hafez50 said:
I can assure you the downside won't be anything like feb or march . It will be a ton of ups and downs making the short side very tough . There will be an incredible amount of hype virus vaccine news through the fall causing huge rallies .

Excellent point, agree.... likely a zigzag grind down at best, thx. I did well today in SRTY UVXY etc but rather than hold all overnight I sold some aftermarket to lock in profits.

Your earlier point re not strong trend yet is well said, so I decided to take some profits rather than risk giving it all back if tomorrow gaps against inverses. Many thanks!

hafez50 · May 12, 2020

KCalhoun said:
Excellent point, agree.... likely a zigzag grind down at best, thx. I did well today in SRTY UVXY etc but rather than hold all overnight I sold some aftermarket to lock in profits.

Your earlier point re not strong trend yet is well said, so I decided to take some profits rather than risk giving it all back if tomorrow gaps against inverses. Many thanks!

Ken i have a motto i use and its served me well for 31 yrs for the short side . " Take your short bacon or somebody will !!!!!" . Yes tomorrow we could gap down and continue down but 80% of the time we don't and you kick yourself for not taking your short bacon. How i don't get angry when we continue down is i look for long trades for scalps if we continue falling . But i will say its game on to short the big bounces now for trades

formikatrading · May 12, 2020

Market never makes it easy and always tries to take your money. Lots of folks got chewed up in the last 2 days.

nillionaire said:
They tried their hardest yesterday and today, when the market dipped below 2900 in the premarkets, and staged some 40-50 point rallies to fake out the bears. Looks like the big drop has started. I expect to see us take out the last swing low of 2717.