well, guess that's it for today, a very strong close but also eliminated some good rebound signals for bulls. I have no idea for tomorrow, need dig more, just generally, a strong push down like we have now is unlikely just one legged.
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wayne0708 wrote:cobra?
this closing seems to be a good set up for long tomorrow?
No idea.
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jarbo456 wrote:looks likes unwinding shorts to me.
yeap, short covering, so this actually is not good for bulls as bears are very cautious here.
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jarbo456 wrote:good call on those that took profits in the past 10 minutes.
and what now? hahahah
little chicken
you're absolutely right i'm chicken. i've given up too many profits on stubbornly following the TA in this fast moving market. 100% bigger balls and all my admiration with it ^^. i would in fact even say that's probably a good thing, but holding 50 contracts of spy puts was enough for me cashing in 20k in profits without being overly greedy.
and i did see a short term reversal, and am long 20 calls in the money at the moment. i hope both YOU and i are right in our trades.
didn't meant to be any negative, just try to be funny.
lets all make a killing here.
SEE! we both made our goals. there was a new low for you, and a nice rally at the end for me. at which point i reversed my position and took 20 contracts of SPY puts at the close.
jarbo456 wrote:good call on those that took profits in the past 10 minutes.
and what now? hahahah
little chicken
you're absolutely right i'm chicken. i've given up too many profits on stubbornly following the TA in this fast moving market. 100% bigger balls and all my admiration with it ^^. i would in fact even say that's probably a good thing, but holding 50 contracts of spy puts was enough for me cashing in 20k in profits without being overly greedy.
and i did see a short term reversal, and am long 20 calls in the money at the moment. i hope both YOU and i are right in our trades.
didn't meant to be any negative, just try to be funny.
lets all make a killing here.
SEE! we both made our goals. there was a new low for you, and a nice rally at the end for me. at which point i reversed my position and took 20 contracts of SPY puts at the close.
Man i would never sleep if i were u . must be so stressful to go 20 puts of spy...but i admire ur trading! .that thing is soooo hard to trade with the cat bouncing on the trampoline every 5 secondS!! Good luck to u ! thats why i do Single stocks.
Man i would never sleep if i were u . must be so stressful to go 20 puts of spy...but i admire ur trading! .that thing is soooo hard to trade with the cat bouncing on the trampoline every 5 secondS!! Good luck to u ! thats why i do Single stocks. [/quote]
i have always traded a small SPY position, but recently, aka in the past two months, i have gone almost exclusively SPY as global and asset correlations rose. when the market settles down, correlations fall, i'll return to looking at single stock options - then i'll be following you since you seem to be doing great with your single stock put options.
Volume actually seemed a little on the light side compared to the early August crash days. Maybe things are just getting going, but if we see lower lows on lighter volumes, it would be consistent with a bottoming process.
Mr. BachNut wrote:Volume actually seemed a little on the light side compared to the early August crash days. Maybe things are just getting going, but if we see lower lows on lighter volumes, it would be consistent with a bottoming process.
I wouldn't refer to the august drop for volume. Volume is actually higher than yesterday and that's a pretty strong signal all by itself.
Mr. BachNut wrote:Volume actually seemed a little on the light side compared to the early August crash days. Maybe things are just getting going, but if we see lower lows on lighter volumes, it would be consistent with a bottoming process.
Very true. This isn't capitulation that's for sure. But maybe next week we will get another piece of the puzzle.