Is it time to go short?

schizo

schizo

Is it time to go short? I don't think so. But getting close. The magic number? 3030. ES is currently trading at 2945, so less than 100 points away.

PS. Don't take out no mortgage or sell your wife and kids.

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schizo said:
Is it time to go short? I don't think so. But getting close. The magic number? 3030. ES is currently trading at 2945, so less than 100 points away.

PS. Don't take out no mortgage or sell your wife and kids.

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I agree getting close i thought it was 2965 on spx but iam swing trading any ways less than 100 points is not much, many stocks starting to deteriorate already and i believe another scary day or week is yet to come even if we end up upwards later on any ways
 
I have made the observation, that the Europeans tend to sell the ES during their trading day, then the Americans chop through their hours or they buy, then the Asians buy it up and up. What is going on here? What is the great picture behind this?

BTW if you do not agree Id like to hear your opinion.
 
ES has formed H&S on the daily, so if Friday's low broken, this will trigger sells/hedged for me and resume hedging of long stocks. I have no opinion as it automated. Only big ETF buy been UCO, more of a longer term trade but offers huge returns once Crude goes up, was huge volume on the lows, one must check out that chart, WOW.
 
6 weeks ago, I worried about the *possibility* of material, long-term effects of a pile-it-on, One-Shot-Kills-All approach to CoVID-19... but I had an underlying assumption that the effects would be short-lived, and that a V-bottom was the likely/*only* course for the market. (And that that course was once-and-always oriented on a future-viewing P/E...) My observation was that shooting all our economic powder at once as ill-advised, and that *proper* testing was required to form *any* viable long-term strategy.

I am now in great fear of long-term effects of this so-called "shutdown" -- we're not really easing on the economic strangle-hold that's going on worldwide (IMO). Yes, Britain, other EU, and various U.S. states are talking about opening this and that, "staging" this other, "testing" more.... And while these noises are nice, I think they're ephemeral: they *still* lack a cohesive nature -- at least as far as what's reached my eyes/ears. Because of this, I think this "Opening" is built entirely on the thin ice of a slowed CoVID-19 incidence, and that as soon as that incidence number re-climbs, the ice will melt, and Lockdown II. will ensue. (Accompanied by another *further* drop in the market -- down to (or below) the first lows.) We have shot our wad, without setting ourselves up for the future.

Is it time to go short?
I'm entirely with the OP: it's not time to drop the mortgage on this, but at the very least, it's time to put strong(ly) directional trades on a short leash. S&P resistance at 3000 and support at 2400 are first-glance targets: sideways flop in extremis.

Sorry to be so glum, but I really figured we'd get our shit together sooner..... And while we are making the kinds of noises we should have been making weeks and weeks ago, I think one good CoVID splurg more, and the lockdown course will be re-imposed -- still based on fear and not on knowledge. And then the spike in P/E, for which the P↓ to follow. Ugh. No economic bullets left.





https://www.elitetrader.com/et/threads/nobody-knows-the-number.342769/page-4#post-5060650
https://www.elitetrader.com/et/thre...tic-yet-infectious.342772/page-2#post-5060629
https://www.elitetrader.com/et/thre...e-lockdown-is-over.342761/page-2#post-5060301
 
YM ( only track YM via D1 ), Short near 24750 worth a shot, but uptrend still in play with 25200 SL.

Most of USA got this over in 1 wave, some low number states ?? no 2nd wave required.

Don't let the South Korea / China news confuse you, they stopped there 1st wave still got to have that :)
 
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