the top is in

R

remoteControl

This week:

1) my brother in law (full time non-finance job) emails me to brag about making $15k in a day trading

2) my best friend (full time non-finance job) texts me he is going long silver because r/wsb is going to create a squeeze. he knows I "have been long for fundamental reasons, but he is just reading the terrain"

3) a chart of GME makes the front page of the New York Times.

This is what tops are made of. You heard it here first.
 
Perhaps, perhaps not. This monthly NQ chart looks very ominous.We won't know for several months. A return to 9000 would be gut wrenching to some. But that's were we where just last year.


NQ Monthly 1-29-21.jpg
 
4) Tik Tok traders

5) Overhearing refugees talk about the stock market

6) @Buy1Sell2 have a short bias for the first time in forever?

7) A market which is divorced from fundamentals and the economy

8) Seasonality favours a down move in March

The signs are there. :)

Should be an interesting few weeks ahead for sure. There's been some many times over the last years where the market seems to have topped (and probably should have), yet this market always seems to recover. Will this time be different?

As of Friday's cash close - the ES (S&P 500 futures) closed down -4,07 % from the top, so nothing dramatic yet, although volatility and downside momentum definitively have picked up.
 
The last time S&P printed a similar week to last week it was the start of a 10 % correction. Low 3300 definitely seems like a possibility from here. That's approx. 15 % down top to bottom.

We left behind quite a bit of air below on this rally, so I don't see why not.
 
A guy I know who has never in his life traded a stock or never spoke about trading finally opened up a robinhood account in January and traded GME. Im seeing numerous social meda feeds from individuals talking about trading as if they have been involved in trading for a decade or more....The collapse is about to happen.....
 
S2007S said:
A guy I know who has never in his life traded a stock or never spoke about trading finally opened up a robinhood account in January and traded GME. Im seeing numerous social meda feeds from individuals talking about trading as if they have been involved in trading for a decade or more....The collapse is about to happen.....
More...


The world has not changed. Trading hasn’t suddenly become easy. Those of us that have been doing it for decades know this. I hope these people enjoy it while it lasts, because it is extremely temporary.
 
agree... main goals are swing large vs piker size in inverses and be more patient to let swings run w/position sizing. and now's a time i wish i knew more re options trading /weekly spy puts /best strikes. i want to score 6 figs before ftt bs
 
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