Time to buy here

Quote from GTS:

It is enough of a reason...and don't call me Shirley
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the emphasis is on "sustained". not saying market wont go to 1120 before rebounding but its going to rebound sooner than later. IMHO
 
Quote from Ghost of Cutten:

Big VIX spike up to 39, intraday puke after a major selloff, fear widespread and market overextended after 2 weeks of constant selling.

I would say a quick bounce back to 1250, maybe 1275, is a good play here. Another way to play it with less risk, is back up the truck on US Treasury put options.
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We shall see.
 
Quote from atlTrader666:

I cant tell if you're being sarcastic since you mentioned average down for several WEEKS lol... If you're serious then wow I hope that hedge is solid.
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I'm quite serious. I just got 2,500 shares of SPY @ $115 a few minutes ago. I post all my trades in real time (or as close to real time as possible) in another thread, and have been doing so for months.

Patience is key
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Agreed 100%. I'm drawn down quite a bit right now. I don't care. In the meantime I'm making money on the hedge and on SPY dividends, and I know that eventually price will go back up again (since price is random, or at least random to the point that I personally cannot predict it), it will go back up at some point, and I'll have thousands of shares when that happens.

Believe me, if price could be predicted I would much rather do it that way and make thousands a day with 50-100 ES contracts at a time. But I cannot do it, and I haven't met anyone else who could (despite people who PM me and say they will teach me if I pay them a few thousand dollars up front, lol, gtfo with that shit).
 
It should all stop by SP500 at 1100. Good time to buy then.
But be prepared for another downleg to 103. If buy at 110 then sit on it at 7% stop.


:D
 
Quote from 1a2b3cppp:

I'm quite serious. I just got 2,500 shares of SPY @ $115 a few minutes ago. I post all my trades in real time (or as close to real time as possible) in another thread, and have been doing so for months.



Agreed 100%. I'm drawn down quite a bit right now. I don't care. In the meantime I'm making money on the hedge and on SPY dividends, and I know that eventually price will go back up again (since price is random, or at least random to the point that I personally cannot predict it), it will go back up at some point, and I'll have thousands of shares when that happens.

Believe me, if price could be predicted I would much rather do it that way and make thousands a day with 50-100 ES contracts at a time. But I cannot do it, and I haven't met anyone else who could (despite people who PM me and say they will teach me if I pay them a few thousand dollars up front, lol, gtfo with that shit).
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Why wouldn't you just trade the ES contract. The SPYs seem like a waste of buying power... you can control the leverage in futures with less size.

What's your plan now with the SPYs? Minimize loses on any rallies? Become a value investor? Are you hedged well?

I'm going to try to scalp on the long side but won't overstay as a bull. I remember 2008 too well... called bottoms too many times... it ALWAYS goes lower. In the event it rallies then it is what it is. I missed the move and it's fine because I didn't want to chase on the longside during a momentum sell time. We're only down 9% YTD or for 1 year.

Its UGLY out there... buyer at 1108
 
Quote from atlTrader666:

Why wouldn't you just trade the ES contract. The SPYs seem like a waste of buying power... you can control the leverage in futures with less size.
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Don't want to deal with rolling over, and I get paid dividends on SPY.

What's your plan now with the SPYs? Minimize loses on any rallies? Become a value investor? Are you hedged well?
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Sell for a profit at some point in the future. I'm not hedged as well as I could be, but I have no idea how low price was going to go so I closed half my hedge (for profit) a few days ago.

I remember 2008 too well... called bottoms too many times... it ALWAYS goes lower.
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I scaled into weighted ETFs during that recession.

Scaling in because I can't call bottoms.
 
There's a bullshit bounce lol... I'm buying near close if we make a new low in the low teens around 1112... 1105 would be better.

The SPYs got to 1120 to the tick.

I average in conservatively when I try to call bottoms too. I am ALWAYS too early... knowing that I wait and am STILL too early lol.

Anyone know what's up with NEM... see that hard reversal?
 
Quote from atlTrader666:

There's a bullshit bounce lol... I'm buying near close if we make a new low in the low teens around 1112... 1105 would be better.

The SPYs got to 1120 to the tick.

I average in conservatively when I try to call bottoms too. I am ALWAYS too early... knowing that I wait and am STILL too early lol.

Anyone know what's up with NEM... see that hard reversal?
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Market WILL close near the low (to generate long red daily candlestick with short/no lower shadow --- you can bank on this!
 
Quote from pattern39:

Market WILL close near the low (to generate long red daily candlestick with short/no lower shadow --- you can bank on this!
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Possibly... I'm waiting for the 3:30pm institutional money volume symphony
 
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