Nasdaq bounced right off the 50 dma — for now !

[derektrader]

The Naz held and bounced nicely off the 50 dma. However, i think we blow right through it next week.

 

[Tradex]

The Naz held and bounced nicely off the 50 dma. However, i think we blow right through it next week.

So I guess we should all sell, go to cash and watch "I Love Lucy" reruns until the crash is over.

 

[bone]

The Naz held and bounced nicely off the 50 dma. However, i think we blow right through it next week.

Or the Daily Trend Line. They bought the living shit out of it there, ES and NQ.

 

[smallfil]

The pendulum swings both ways. I lost my profits in the span of 2 days. That said, I am revising my exit strategy. The good thing, I still have my risk management and position sizing to minimize any damage. This exposed a weakness in my trading system which a small tweak should fix.

 

[TimtheEnchanter]

The pendulum swings both ways. I lost my profits in the span of 2 days. That said, I am revising my exit strategy. The good thing, I still have my risk management and position sizing to minimize any damage. This exposed a weakness in my trading system which a small tweak should fix.

I too can not complain. I did some incredibly stupid things like I covered my long puts in SPY, QQQ, on Thursday closing! For the week whatever I made was erased by an idiotic attempt to go long BABA and sell calls just for the day. I got punished and after I covered with a loss, BABA nicely recovered. I also tried a one-day iron condor for TSLA, not too smart (very small loss). Considering that I've lost $5000 on 6/11 when I had $50,000 in various covered calls, I am doing much better. Live and learn.

 

[Riser]

The Naz held and bounced nicely off the 50 dma. However, i think we blow right through it next week.

J.Powell got on NPR and it was reported around the market close that rates would have to stay low for periods measured in YEARS. Haha! Gotta try to stop the selling next week somehow.

 

[ET180]

Beyond that, where else is money going to go? Can't get anything from fixed income. Who would buy a 30 year treasury at 1.xx% yield? Seems insane.

 

[Tradex]

Who would buy a 30 year treasury at 1.xx% yield?

Sure, so you need to scalp, day-trade or swing trade the sucker in the Futures market (symbol ZB), of course.

Unless you have a billion to invest, and in that case you'll pocket at least 10 cool millions each year, doing nothing.

 

[Riser]

Beyond that, where else is money going to go? Can't get anything from fixed income. Who would buy a 30 year treasury at 1.xx% yield? Seems insane.

Yes, the cheap money is being forced once again into equities. The buy level is there somewhere, going to get really volatile as the election nears. A good opportunity to be long or short.

 

[Nine_Ender]

I too can not complain. I did some incredibly stupid things like I covered my long puts in SPY, QQQ, on Thursday closing! For the week whatever I made was erased by an idiotic attempt to go long BABA and sell calls just for the day. I got punished and after I covered with a loss, BABA nicely recovered. I also tried a one-day iron condor for TSLA, not too smart (very small loss). Considering that I've lost $5000 on 6/11 when I had $50,000 in various covered calls, I am doing much better. Live and learn.

It is no surprise you've done incredibly stupid things trading given the idiotic posts you have been dropping on this site lately.