te_fern wrote:Are you sure it wasn't because they were saying 'we finally suckered fern into going short'!! LOL!
There were rumors, unconfirmed, that the "finally suckering" of Te Fern indeed moved the market today.
Kidding aside, there is a prevailing tendency on Opex Fridays for the AM session to be weak, and the afternoon session to be neutral, or even recovering from the morning weakness.
te_fern wrote:Are you sure it wasn't because they were saying 'we finally suckered fern into going short'!! LOL!
There were rumors, unconfirmed, that the "finally suckering" of Te Fern indeed moved the market today.
Kidding aside, there is a prevailing tendency on Opex Fridays for the AM session to be weak, and the afternoon session to be neutral, or even recovering from the morning weakness.
Thank you for that. I was also worried that the market tends to go sideways in the afternoon, more often than not.....
If this is a fourth wave then it is supposed to confuse us about market direction. Considering the wave two lasted about a week and had a really nice retrace just seems reasonable that we jerk around with an upwards tilt towards the Jackson Hole speeches on Friday. Based on the past our financial Sovereign rulers tend to decree good things for the market at Jackson hole. If this a fourth wave they could be ready to make a Bernanke taper tantrum speech and send us on down.
Tin foil hat folks think the Fed is triggering a selloff because the Treasury needs money and massive profit taking means tax payments flooding in to help prolong the spending limit crisis. I would think they win on this one as the Fed has to be way more concerned with the threat of default than they are about a 10% overdue market correction.
SPY volume today is already greater than all but 3 sessions of the past two months. Those 3 were all down days. Yesterday's elevated volume is being confirmed.
te_fern wrote:Giving the downside trade a try. We'll see...
you didn't get stopped out yet [???]
you've got a higher low boss
it's a coin toss, may the force be with you (i don't mean the force index)
Haha, no, I used your 400 min MA line as the stop point. So, it has kept me in the trade. One thing nice about TZA is that it doesn't move as fast as some as the other levered tickers! LOL!