The S&P 500 will top at 3250
- Thread starter volente_00
- Start date
1 gap down3337 on the S&P cash market. We could still head down and open below 3337. *fingers crossed*
3 to go
Players move the markets. They may respond to the news and they may not.
How many really bad news items have there been the last 10 years which the stock markets have just shrugged off like it's nothing? A lot. Equally, there can be very bullish news that does not seem to matter either.
News is just a convenience to explain price movements when one have no other means to explain them. You see it in the media all the time. On Friday, I bet the papers were writing: "The markets fell on fears of the corona virus spreading..."
If the markets rose on Friday, they would be writing: "The markets rose in spite of reports of the corona virus spreading, suggesting that investors believe that..."
Bottom line is that these financial commentators knows jack sh*t about why price does what it does. The commentary may be interesting to know what's going on in the world, but it sure as hell ain't useful for trading.
As a trader, you should not be worrying about WHY, but about HOW. How to trade price movement.
FWIW, I was bearish for last week already on Sunday and it had nothing to do with Corona.
I just read this at Bloomberg now:
U.S. stocks continued their relentless push higher even as the economic impact from the deadly coronavirus remains murky. Treasuries were mixed and gold advanced.
They're just spinning a story each and every day with no clue at all about why and what.
Disclaimer: I still browse the news, but don't use it to base any trade decisions/analysis.
I'm positioned for a minimum SPX touch of 3300 from 3380
Continuation objectives in the next 7 trading days remain at
3300
3251
3228
Spy range is 340-322
Continuation objectives in the next 7 trading days remain at
3300
3251
3228
Spy range is 340-322
Last edited:
My target is SPY 400 by end year...
Shorting ES here 3379-80
Stop is 3390
Objectives are
3300
3251
3228
Stop is 3390
Objectives are
3300
3251
3228
The rally by DEMTDAYBOYZ in U.S. stocks took a break Thursday after going green and the placing of a large short Position by Volente_00
I see new highs? What is going on? Are you never stopped out?
He's had around 10 failed shorts now ( too many to count ) over 13 months. So a 10% winner would put him back at roughly break even on the trades he posted. Every time he gets some initial head way on a trade, his fans start crowing and he starts warning/chastising the bulls the top is in for real this time. Whatever works for him I guess but the opportunity cost of not being long the SPX from January 1, 2018 to yesterday was 36%. Going to take some serious success moving forward to make any of it worthwhile. He might have caught some of that 35% in a long trade early in 2019.