This is what a market bottom looks like

orbit23 said:
LOL, YEP. I figured that about the tops too.

Thanks to my skill though i can fail at catching the bottom and still make money or atleast not lose.

Anyways i regret not being properly prepared for the other scenario. I figured that things were not looking as they should, i closed longs, but i did not open shorts and this happens way too many times.
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IF I had known the market was going to close down like it did today- I would have kept more inverse ETFs.
At the rate this market is downtrending may get to collect dividends on the inverse ETFs,?? NOT a prediction...…………………………………………………………………………………………………..
 
orbit23 said:
If you went to check my previous thread, i said that volatility was gonna come and we'd get a 30% crash. I said that i am not the one to call tops and that what makes mone is just blindly buying every breakout. I tried to short once or twice on very tight stops but i realized it's way too early and even myself i was like what am i doing should be just longing like an ape.

I can buy bottoms only if it is the bottom.. Right now i got out of my trade on trailing SL in meaningless profit, basically breakeven... Doesn't look too promising right now, but i will enter if i see something i'd like.

Yeah i guess bottom fishing doesn't pay, honestly i'd make much more had i just been scalping. I am a scalper by default though but i trade from weekly to minute charts.
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I get it, but read what you're saying. You're basically saying the same thing I am, that if you're a trader, you need to just find the best trades you can every day in and out and that calling the tops and bottoms even if you get it perfect is just ONE trade. So, it's fine to do if you can do it, but it's just ONE trade so to spend so much effort and time on it doesn't seem like a great value proposition.

I am only speaking in regards of trading to be consistently profitable. If you're a long term investor or you want to go super heavy / all in on your top and bottom calls that's fine, but again that has nothing to do with the consistent trading aspect.
 
trdes said:
I get it, but read what you're saying. You're basically saying the same thing I am, that if you're a trader, you need to just find the best trades you can every day in and out and that calling the tops and bottoms even if you get it perfect is just ONE trade. So, it's fine to do if you can do it, but it's just ONE trade so to spend so much effort and time on it doesn't seem like a great value proposition.

I am only speaking in regards of trading to be consistently profitable. If you're a long term investor or you want to go super heavy / all in on your top and bottom calls that's fine, but again that has nothing to do with the consistent trading aspect.
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Yeah. I just thought the bottom might've been in, but i go into the lowest timeframes and scalp off of there too, so when i'm wrong i am the first to get out.

I might've been wrong on the timing, but i think if we ever get a bounce, it's likely to be a rally into the end of month&&quarter.

Palm oil looks like a potential bottom, so does palladium and the sentiment is hitting extremes, while SP looks like a potential bottom too.
 
NewTraderAdventure said:
i make millions off the calls here

how can i repay you all?
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I'll take bitcoins. 10% seems like a good deal.


I can say with pretty high confidence now, that the bottom is in. Buy here and add if it dips slightly, hold until end of month and sell everything there.
 
orbit23 said:
I'll take bitcoins. 10% seems like a good deal.


I can say with pretty high confidence now, that the bottom is in. Buy here and add if it dips slightly, hold until end of month and sell everything there.
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I note for posterity, he makes this call AFTER a 2000 point Dow rally.
 
NewTraderAdventure said:
I note for posterity, he makes this call AFTER a 2000 point Dow rally.
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You are not supposed to buy the bottom, but once the bottom is in.

Expecting massive rally to ensue in the next few days till the end of month.

That's what a short squeeze is, just look at all the plebs on this forum so convinced markets are one-directional.

Also by the way, i only think this is a short-term bottom. SPX will likely drop under 1000 in the next year and Russell is going down to 500. I am sorry. You will probably disagree on this too.
 
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Everyone is so quiet when the market is up. Ugh.

Anyways my expectations going forward are, we should be only going up in the next 4 days. Today we should reach 2650, which is our first trouble area and i assume we could get a rejection there. Even if the daily pulls back in, that's completely fine, but we have to start rallying comes friday and close well. Monday and Tuesday should be big full candles to the upside.
If a daily low is breached, the idea is off and the sell off likely to continue.

Anyways don't get fixiated on the idea because scenarios rarely occur as anticipated in a dynamic environment. But just something to bare in mind.
 
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