Well that was a sick run...wonder how much longer this bad boys gonna last.

[Bugsy]

I had an upside weekly prediction of 3250 and a Week High coming late in the week.

We pretty much hit that today, so it's possible this is all we got considering the gap fill from the 21st is out of the way.

But if I were to guess - maybe 3350-60 by tomorrow?

I think we'll hit that overnight though I also wouldn't be surprised to see us just trade sideways all night.

 

[DevBru]

Well I tried stocks initially, but it's just so much damn work screening for volatile stocks that you can also short without problems. Throw wash sales and short term capital gains taxes in and it's too f'ing much. Futures are far easier to deal with and volatile enough to make them worth playing daily.

Volatile stocks are easy to find, just look at the premarket gain/volume and wash sales are only an issue if you are taking positions in to the next year, nothing to worry about as a day trader.

Futures are easier but also way more boring when there isn't this kind of volatility, you are trading during high volatility markets, wait until the ES goes back to ranging 5 points a day most of the time .

 

[Bugsy]

Volatile stocks are easy to find, just look at the premarket gain/volume and wash sales are only an issue if you are taking positions in to the next year, nothing to worry about as a day trader.

Futures are easier but also way more boring when there isn't this kind of volatility, you are trading during high volatility markets, wait until the ES goes back to ranging 5 points a day most of the time .

The problem I find with the premarket gain/ volume in screeners is the majority is penny stocks for any good sized volatility in price change, and this renders to ability to short them almost impossible with the volume normally very illiquid.

Also, at least taxes on futures is a mix of long/ short term cap gains. Stocks is 100% short term.

You do raise a valid point on the current ES volatility. Are there any other futures worth trading in those slow times? WTI maybe? BTC contract prices are ridiculous. $10 round trip? Wtf

 

[Overnight]

The problem I find with the premarket gain/ volume in screeners is the majority is penny stocks for any good sized volatility in price change, and this renders to ability to short them almost impossible with the volume normally very illiquid.

Also, at least taxes on futures is a mix of long/ short term cap gains. Stocks is 100% short term.

You do raise a valid point on the current ES volatility. Are there any other futures worth trading in those slow times? WTI maybe? BTC contract prices are ridiculous. $10 round trip? Wtf

NQ volatility not good enough? Could always try GC or RB. That'll put hair on your ass.

 

[Bugsy]

NQ volatility not good enough? Could always try GC or RB. That'll put hair on your ass.

Sweet. I'll dip my toe in tonight see how they look thanks.

 

[Overnight]

Sweet. I'll dip my toe in tonight see how they look thanks.

I did not mean to actually do it with real money. RB is always a monster, but GC has been on a rip-roaring tear, and if you get the direction wrong on it you'll be shredded.

 

[Bugsy]

I did not mean to actually do it with real money. RB is always a monster, but GC has been on a rip-roaring tear, and if you get the direction wrong on it you'll be shredded.

How far over do they go on stop outs as far as slippage?

 

[Bugsy]

I did not mean to actually do it with real money. RB is always a monster, but GC has been on a rip-roaring tear, and if you get the direction wrong on it you'll be shredded.

I'd imagine Nasdaq stays fairly volatile all around with technology stocks constantly moving. Probably far more than ES no?

 

[Poljot]

Hi Bugsy, If you are looking for volatile stocks you might consider screening for tickers with highest beta coefficient and restrict market cap to avoid penny stocks.

 

[Overnight]

I'd imagine Nasdaq stays fairly volatile all around with technology stocks constantly moving. Probably far more than ES no?

They TEND to move in unison in direction, but this earnings season has been a bit odd. As for volatility? You'll always have more price-action on NQ as opposed to ES.

Regarding slippage on GC vs. RB, you'd have more slippage on market orders with RB due to it's jerkier moves per tick.

Watch RB, NQ, GC and ES tomorrow during the NFP report at 8:30AM ET and draw your own conclusions.