Quote from tradingjournals:
I do not think there is a need for a stop if your stop were 113.28, and your entry ____. I have to stop talking.
SPY is now at 113.08.
Top was 113.11 (3cents away from 113.08). Now trading below 113.
Weekly Poll: SPY Is Stuck at 110
- Thread starter shortie
- Start date
Top was 113.11 (3cents away from 113.08). Now trading below 113.
my stop @113.10 was just to fool the robots that scan ET for trader's stops. i even wrote it in a format that a robot should have no trouble understanding.
of course the robot may not have understood that the trade was scratched in the follow-up post.
regardless, THEY did hit that stop with SPY high 113.11 so THEY always win.
LOL! You should have placed a short sell order at 113.11 as well. I am starting to think that your robot theory might actually be true. You never know what smart money can be up to.
hehehe, SPY bounced against 112.34.
here is one reason we will fill Monday gap tomorrow. the gap-up was a set-up to trap shorts going into the employment report this Fri. now the shorts are itching for 4 days trying to hedge/get out but they can't really get out without the damage because the gap was fairly large and then nothing really got filled in.
now that the shorts are fooled, the market is ready to fool the longs who have been enjoying the free money.
where is this long hog going?
here is one reason we will fill Monday gap tomorrow. the gap-up was a set-up to trap shorts going into the employment report this Fri. now the shorts are itching for 4 days trying to hedge/get out but they can't really get out without the damage because the gap was fairly large and then nothing really got filled in.
now that the shorts are fooled, the market is ready to fool the longs who have been enjoying the free money.
where is this long hog going?
Quote from tradingjournals:
I do not think there is a need for a stop if your stop were 113.28, and your entry ____. I have to stop talking.
SPY is now at 113.08.
Today it hit 112.08, and yesterday's high was only 3cents from 113.08. For today, I would place the probs that SPY reaches 113.13 today at less than 5%. It is currently at around 112.75.
I removed the short puts, as I feel it is getting dangerous to hold them.
That is what most people seem to be expecting, which can make things dangerous for shorts. The QQQQs did not confirm the SPY weakness so far, which raises question marks. We need a "selloff" to have some ceiling of losers among the bulls to limit the effect of any upmove tomorrow.
My current view for rest of day is:
1. Close would be higher than open price (which encourages bulls).
2. Red close which encourages bears.
Net= confused traders.