ES now at 1818.75, and a buying opportunity this awesome needs to be shared! If it goes lower just buy more. Anticipated holding period: About a week.
RM's occasional market calls...
- Thread starter Rearden Metal
- Start date
So you're suggesting we buy with no stop and add to losers? Really? Has someone hijacked RM's account?
I'm looking at this also, but not in yet. Waiting for some more information before I'm convinced here. In fact, would prefer if we ranged and probed slightly lower for a few days before buying. (taking out the first wave of pullback buyers and encouraging shorts) Also, will likely get positioned in the Dax around 9500 looking for 10,000 instead of ES.
Hot potato syndrome at new ATHs though, so not gonna get greedy on this one, if I take it.
RM has said before that he never uses stops. When he no longer likes the trade, he gets out. And larger traders have to add at better prices in order to get their size filled - are they really the "losers" in this game?
Scaling out of 1/4 position, here at 1832.50.
good call so far
What made that opp better than 1750 or below???
Was this a great opp to you because you noticed someone dumped it in after hours on that china news during relatively low liquidity?
Not hating , just curious about your thought process.
Scaling out of another quarter, here at 1840.75. One half of the position still remains.
What made that opp better than 1750 or below???
--->The chart pattern.
It happened to set up in an extremely favorable way last night. I was buying the recent dip below 1750 as well, but yesterday's action was much easier for me to time properly.
Was this a great opp to you because you noticed someone dumped it in after hours on that china news during relatively low liquidity?
-->Yeah, that's part of it.
What made that opp better than 1750 or below???
--->The chart pattern.
It happened to set up in an extremely favorable way last night. I was buying the recent dip below 1750 as well, but yesterday's action was much easier for me to time properly.
Was this a great opp to you because you noticed someone dumped it in after hours on that china news during relatively low liquidity?
-->Yeah, that's part of it.
Once again, I find myself in a situation where I'm already sitting on a sizable gain and have little to no incentive to recommend that anyone continue to hold. Might as well exit the rest right here/right now at 1840.25 and call it a day.
What was the reasoning behind the trade and what made such a no-brainer?
