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Weekly Poll: Buy Dips or Sell Rallies During Expr Week?
- Thread starter shortie
- Start date
You know my views guys since the eve of last Friday for currencies, and friday morning for stocks. There were:
1. EUR/USD support around 1.36 area. (now trading above 1.37).
2. Bounce in stocks. The last visit to the highs before the real retreat.
The pros in twitter are saying a bear leg in EUR/USD, and shorted below 1.3660. They currently hanged. Once they decide to cover, then the real move will start.
Summary: it would be a range bound type of rise, unless the bears who short friday get scared, and start covering their ashes.
1. EUR/USD support around 1.36 area. (now trading above 1.37).
2. Bounce in stocks. The last visit to the highs before the real retreat.
The pros in twitter are saying a bear leg in EUR/USD, and shorted below 1.3660. They currently hanged. Once they decide to cover, then the real move will start.
Summary: it would be a range bound type of rise, unless the bears who short friday get scared, and start covering their ashes.
Quote from adadadog:
Two reasons allegedly caused the dip. But both are mitigated according to some sources.
Ireland sovereign debt:
bull crap
Shanghai Index fell:
more bull crap
Markets have nothing to do with that crap. I posted on Shortie's thread since a week ago saying what the direction, and asking what the explanation would be. During the move they were talking QE2. Once they realize it does not make sense with dollar move, they bring a more suitable news.
I wonder how they will explain the down move in the dollar, which I wrote about here on eve of Friday, when they were talking and still are talking about china and Ireland.
Once they explain it, then it will be time to flip the burger.
Quote from Visaria:
I'm already short from Friday. There is a possibility of a trend change, but no confirmation yet. Nothing large because you don't know what nonsense will come out over the weekend (and because there's no confirmation of a trend change). I have quite wide stops.
I'll add to the shorts if markets start moving down tonight and tighten the stops.
I always admire courageous people who short/long after a move is already well underway. Good luck to you. I will be on the sideline. I sold some puts on Friday.
Quote from Nine_Ender:
I think there is at least a 20% chance we sell off large Monday so on that basis I am still short. Friday's afternoon rebound seemed half hearted I doubt that's it and the S&P 500 is in a weird spot where I think it has to move somewhere before people get comfortable.
I suspect by 8:35 am tommorrow that direction may be clear.
Risk/reward says stay short but I'm ready to bail if I'm wrong.
Risk/reward says go long, or do not play. SPY's friday bottom less than 1% from a support.
I like you my friend, and I like all people on the thread of our dear friend shortie, so I wish you the best even if I lose money, on my short put. (only one put from a poor ETer )
Quote from S2007S:
Shortie there is no reason to even have a worry about Ireland, the bailout is coming, this will send stocks and markets around the globe skyrocketing once again. This bailout news is getting extremely old dont you think. By Monday morning futures will be soaring. Buy the dip on this good news and sit back and collect risk free money.
I would keep this in mind: markets are not influenced by economy, but the economy is influenced by markets. Crises and solutions come from markets. I would use markets to predict economy/crisis solutions, not the other way around.
I was on Twitter. EUR/USD at 1.3660 area, and tweets saying to short. The bucket shop twitters are talking about the selloff.
I went LONG. Let us see who will be the bagholder on this one. Me or them.
I went LONG. Let us see who will be the bagholder on this one. Me or them.
Quote from tradingjournals:
I was on Twitter. EUR/USD at 1.3660 area, and tweets saying to short. The bucket shop twitters are talking about the selloff.
I went LONG. Let us see who will be the bagholder on this one. Me or them.
1.3660 area has been the bottom. EUR/USD higher by some 20 pips. Now EUR/USD at 1.3686. They cannot get me on this one---I am safe. The twitting guys were nailed on this one.