PPT cometh !!

Not sure how much I buy the PPT .. who knows.

But one thing is certain.

Intense selling pressure at the open tells me there are aggressive fund managers who are shorting every single open fearlessly against their long stock portfolios.

Then when the news doesn't worsen, remove the hedges. Look at the charts -- its a quantifiably low risk trade (especially if you are already long stock and options) amidst a crappy economic backdrop. We haven't had many trending days lately to threaten this strategy.

Everyone agrees a trend is not going to return to this market at least until this payroll and bulk of earnings data is out of the way.
 
Quote from Tracy McGreedy:

Whoa, u've been a little off lately.
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haha ... i was about to jump out the window if this market rallied back today ... needs a good smack down IMHO
 
stock_trad3r:

You missed the point of my earlier post entirely. I was suggesting that large gap downs which aren't filled in first hour often lead to more capitulative selling, which is exactly what happened today. You cited Friday Oct 19 as evidence to contrary. On that day we also closed right into the lows and proceeded to open lower the next session, which ultimately proved to be a fantastic buying opportunity.
 
Quote from bh_prop:

stock_trad3r:

You missed the point of my earlier post entirely. I was suggesting that large gap downs which aren't filled in first hour often lead to more capitulative selling, which is exactly what happened today. You cited Friday Oct 19 as evidence to contrary. On that day we also closed right into the lows and proceeded to open lower the next session, which ultimately proved to be a fantastic buying opportunity.
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Maybe

I just know that this is a great time 2 buy
 
Outside of a fucking meteor hitting us, there is never a bad time to buy in your own words, we get it. Why don't you find a hobby? Since you are not a trader, how about learning to weave, or yoga?
 
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