My long position is down about 20 points so far on this superbull, Red. How are you doing? Me? Psshaw, a minimum 10% correction for NO REASON is not out of the question.
On The Verge of A Super Bull? What say ye
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My long position is down about 20 points so far on this superbull, Red. How are you doing? Me? Psshaw, a minimum 10% correction for NO REASON is not out of the question.
All we can do is hope and pray that Trump doesn't Twit some shit that fubar's everything, and makes a China deal.
And before anyone else here calls me out with "TDS"....Dudues, you need to seriously think about the domino effect this guy is having on the markets, with these damned tariffs.
Economy was going fine for 10 years. Trump comes in, 2017 is great with the tax-cut plan, and then BOOM, China tariffs. The markets are no longer ignoring this. The Fed tried to in Q4 last year, and that did not work. The markets are NOWHERE from where they were when Powell first joined. Look at your charts!
I am long the MNQ on one contract. Take it down 500 points until the roll into December. Sure, why not. I'll lose only a thousand bux. Not bad PRM on a micro.
And before anyone else here calls me out with "TDS"....Dudues, you need to seriously think about the domino effect this guy is having on the markets, with these damned tariffs.
Economy was going fine for 10 years. Trump comes in, 2017 is great with the tax-cut plan, and then BOOM, China tariffs. The markets are no longer ignoring this. The Fed tried to in Q4 last year, and that did not work. The markets are NOWHERE from where they were when Powell first joined. Look at your charts!
I am long the MNQ on one contract. Take it down 500 points until the roll into December. Sure, why not. I'll lose only a thousand bux. Not bad PRM on a micro.
trade war is a factor... sure.
but notice market made new high after the 25% on the $250b, this is very important.. the market wants to go high despite some head wind.
yes fibs are useless... I only listened for a few seconds.. the vid wasn't related to fibs though.
The market doesn't just WANT to go higher, it is DESPARATE to go higher, but the trade war uncertainty is the cap on movement.
Without that cap in place, I am sure the market can reach new ATH. I've been watching how the trade war info has been goring the action, and I can tell you...Trade deal reached? New ATH. New tariffs implemented? Correction (minimum).
You are hilarious Overnight. PRM. 500 points. LOL And you telling me to refrain from the profitable strategy of Averaging down in certain context.
Yes. These are not normal times. Look at my NQ long. I'm looking at delayed data, but it looks like it is down 40 points at least. This could be the start of the next correction.
1. Disagree about trade. Trump not getting anything substantial, period.
2. If the bull market explodes to the upside, it will be due to "overbelief" in the Fed. If/when that occurs and is priced into the market, "look out below".
It could be. Or it could not be. Nowadays 40 pts is normal intraday range on NQ. Too scary for me to trade that. lol. Maybe one day I will be good enough to trade NQ
Suggest learning "Price TA". Everything will become less scary.