For the record, he made similar predictions in early April 2020 when the market appeared to be recovering...and did recover with a vengeance. We'll see. Stay nimble or stay hedged enough that you don't get burned badly on a one-way bet in either direction.
The Grinch Who Crashed Wall Street... Santa Selloff
- Thread starter KCalhoun
- Start date
For the record, he made similar predictions in early April 2020 when the market appeared to be recovering...and did recover with a vengeance. We'll see. Stay nimble or stay hedged enough that you don't get burned badly on a one-way bet in either direction.
Seriously though the chances that all those etfs double in the stated time frame is less then 1% imo, and he's "confident" that it will happen. That's a little delusional in nature. That's the thing about day traders you need to know your lane if you don't research and carefully monitor say Oil don't think you can nail down where it's going in in a couple of months.
Ken's ETFs today so far ( note that Friday's are often the most bearish day of the week ) :
UVXY -6.6%, KOLD -6.2%, SCO -3.2%, TZA + 1.9%, SQQQ -1.6%
UVXY -6.6%, KOLD -6.2%, SCO -3.2%, TZA + 1.9%, SQQQ -1.6%
Why buy in the aftermarket on a Friday? FOMO?
All sorts of shit could happen over the weekend.
Ok that's a personal system not sure if it will work well or not on various etfs. The energy stocks I trade are no longer correlated very tightly with commodity prices suggested the value play in Canada is finally being recognized ( as long as WTI stays above $60 most are highly profitable $70+ they are cash flow machines with their fixed balance sheets ).
Right, so I'm long inverses, shorting the market.... between today's cpi and next Wednesday Powell I expect some selling pressure to return by next Friday, like we had a couple weeks ago.
TZA FAZ relatively strong among inverses, small cap and finance weakness is bearish lead indicator. Buying 52week low near here VXX UVXY is usually a winning swingtrade to prepare for inevitable VIX spike.
Only stock I like here is F
I'm questioning why Friday after market?
Why not Monday premarket or Monday after the market opens. Would that not be less risky?
Yes, you're right.... in general it's best to be cash into weekends, or at least to not initiate new trades Friday. Since news can break either way.
In this situation, I started small new trades, because I think risk/reward especially for UVXY is favorable here. I just bought 200 UVXY, and less for the others. Buying VIX support, selling into strength has done well. It's near support here.
Big picture I'm anticipating a minor pullback next week esp. if Powell talks rate hikes bc high inflation Wednesday, so I'm putting on small bear starter positions now.
VIX is near 15 support here at 19, had spiked to near 30 recently
https://www.cnbc.com/quotes/VIX
See 1-month UVXY
https://www.cnbc.com/quotes/UVXY
My stop is 13.9, just under 14.3 52-week low. Exit target 19. Risk =1.5, reward=4
But mostly I daytrade, in up to 1100 shares at a time UVXY during market drops.
In this situation, I started small new trades, because I think risk/reward especially for UVXY is favorable here. I just bought 200 UVXY, and less for the others. Buying VIX support, selling into strength has done well. It's near support here.
Big picture I'm anticipating a minor pullback next week esp. if Powell talks rate hikes bc high inflation Wednesday, so I'm putting on small bear starter positions now.
VIX is near 15 support here at 19, had spiked to near 30 recently
https://www.cnbc.com/quotes/VIX
See 1-month UVXY
https://www.cnbc.com/quotes/UVXY
My stop is 13.9, just under 14.3 52-week low. Exit target 19. Risk =1.5, reward=4
But mostly I daytrade, in up to 1100 shares at a time UVXY during market drops.
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Yes, you're right.... in general it's best to be cash into weekends, or at least to not initiate new trades Friday. Since news can break either way.
In this situation, I started small new trades, because I think risk/reward especially for UVXY is favorable here. I just bought 200 UVXY, and less for the others. Buying VIX support, selling into strength has done well. It's near support here.
Big picture I'm anticipating a minor pullback next week esp. if Powell talks rate hikes bc high inflation Wednesday, so I'm putting on small bear starter positions now.
VIX is near 15 support here at 19, had spiked to near 30 recently
https://www.cnbc.com/quotes/VIX
See 1-month UVXY
https://www.cnbc.com/quotes/UVXY
My stop is 13.9, just under 14.3 52-week low. Exit target 19. Risk =1.5, reward=4
But mostly I daytrade, in up to 1100 shares at a time UVXY during market drops.
The market reaction to the CPI number and Friday being relatively strong compared to normal suggests we aren't likely near a market sell off this month. That being said, UVXY seems like a good trading vehicle short term but SCO I think your read remains bad on Oil price moves. I think you trade too many of these and are underestimating the need to stay on top of some of them if you ever want to hold sizeable positions overnight.
Day trading and swing trading ( my definition ) require different skills and approach. We can approach the other area occasionally when windows of opportunity show up that cross over. KOLD for example you found a good breakout trade but perhaps didn't cash in as fully as you should have from a swing trading perspective. Which may be because it's an unreliable trade most of the time.