I do not see any reason why this is not a top.
Kudos to MMs
- Thread starter nitro
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I do not see any reason why this is not a top.
How far down do you think it would go on Monday? If there is an up gap on Monday, what are the probs it would be filled on Monday.
You sound like a bull with horns
Isn't SPY175 (if it goes to there) a resistance ?
Isn't VXX at 12.60 getting cheap?
I don't necessarily think that way. Think of it this way, when the correction comes, how far down will it go? No one knows what this experiment that is being run in the United States (and by extension the whole world) will lead to since it has never been done before in history. There are many estimates. Mine is somewhere around 1450 - 1480. Some say SPX back below 1000 (look at links in previous recent posts). It is more a campaign than a single battle. The more the FED does to sustain unnatural markets, the more calamity will come when the rubber band snaps, imo. My experience is that this sort of extreme easy money leads to hyper bubbles. On the other hand, who knows? Maybe this will lead to a new era of prosperity and we will have discovered that the correct level for IRs is zero for twenty years at a time (with Yellen, it is at leas four more years). Maybe recessions are a thing of the past. But if that is not the case, the next recession will likely be one that we have also not seen with potentially catastrophic consequences. People think that economic strategies show up economically. In fact, the seeds of calamitous political chaos are being set by these very economic decisions. All you have to do is open your eyes to see it.
I just add at disciplined targets. The market does what it does.
Nitro, why do you have disciplined targets and not disciplined stops? Isn't that a contradiction of the word. It's like saying I'm disciplined about my diet eating pizza and chocolate.
You've been short now since 1000 on the SPX with no covers that I'm aware of. The point of trading is not to eventually be right but to be right given a certain amount of risk. This is almost a personal vendetta for you. Remember what Jesse Livermore said about the markets. The market is merely a mirror.
I'm not questioning his add, I'm question his risk management. When he uses the word discipline about a trade that he has been short for 3 years and no stops. Now I know these trades aren't real, it's all semantics. If one is going to take the time to post, they might as well still carry out their simulated trades as if it were real money. Otherwise what are they getting out of it?