I Have Not Been Able To Exclude The Possibility Of BLACK MONDAY 04/26

[noddyboy]

Quote from Rabbitone:

Whoa, at days end the big money is dumping the dip.

I actually don't know anymore -- I am done buying. If I get stopped, I will not take a direction anymore.

 

[abducens]

If the Senators were not so mean to the Goldman guys we would be up another 50.

 

[shortie]

30% VIX jump for -2.5% SPY has to be excessive to my eye . so we should have a bounce back short-term. if somebody could post a formula or a study that relates these two that would be great.


BUT, look at Jan top! the exact same thing happened: the first large red candle resulted in a giant VIX spike on Jan 21 only to be followed by more sell-off.

 

[MohdSalleh]

not a bad day for active daytraders, so many signals that it was hard to keep up..

If this keeps up, i might have to vote for Obama

 

[NoDoji]

Quote from Rabbitone:

Whoa, at days end the big money is dumping the dip.

I'm a bit peeved at myself. Saw an ES short signal 3:25pm with an 1179.50 target zone and didn't trust it. I'm too used to end of day monster rallies after a big selloff. This second selloff caught me totally off guard. I chased the one this morning and snared a nice gain, but was afraid to chase this EOD.

 

[Lojanica]

Quote from Lojanica:

Here we sit on support again. The increased volatility shows a toppy market but no mayday or May day yet. Tomorrow will be the test again. The call to sell calls has been the word. Word.

Um, Mayday?

 

[Petsamo]

Quote from NoDoji:

I'm a bit peeved at myself. Saw an ES short signal 3:25pm with an 1179.50 target zone and didn't trust it. I'm too used to end of day monster rallies after a big selloff. This second selloff caught me totally off guard. I chased the one this morning and snared a nice gain, but was afraid to chase this EOD.

I'm sure everyone was thrown off, even those who were short three months ago, like shortie.

 

[shortie]

Quote from Petsamo:

I'm sure everyone was thrown off, even those who were short three months ago, like shortie.

yes, the market has done a great job of conditioning people: "buy the dip", "eod rally", etc.

 

[pspr]

What comes to mind is a quote I heard somewhere,

"I'd Rather Be Lucky Than Good"

 

[Ivanovich]

Quote from MohdSalleh:

Ivan bought the float

LOL! Yes, I did. I bought the bounce, and then was stopped out. A loss, but not a large one. And it certainly doesn't cancel out all the times where buying the dip worked.

I do find it somewhat odd that GS was up and the whole market was down, despite the congressional grilling.