So, had a huge loss (12% in one account and 19% in another) as I was stopped out at close with SPY punching through 122.55 and as usual, this is a huge contrarian sign so I am sure something major is going to happen this week-end and I will have lost out on a ton...
Good luck to everyone, I may step out of the market for a few weeks and lick my wounds.
RealMoneyIssues wrote:So, had a huge loss (12% in one account and 19% in another) as I was stopped out at close with SPY punching through 122.55 and as usual, this is a huge contrarian sign so I am sure something major is going to happen this week-end and I will have lost out on a ton...
Good luck to everyone, I may step out of the market for a few weeks and lick my wounds.
Sorry to hear that. I took 3% loss on short at 50 day MA, and 1% loss on short today. One more chance to short at 1235 high, though I don't have much hope for that
SPY vs SPY avatar is a propos and totally classic!
More upside bias than I thought. This market is stronger than I thought (looking at short term momentum). More upside risk than downside at the moment IMHO.
It seems the market has priced in a once-for-all solution to the Europe mess over this weekend. All the downgrades, warnings etc have been ignored for now. Bulls better pray that will indeed be the case. If they could not agree on anything concrete this weekend, watch out below. The market is certainly capable of wiping out the "hard-earned" 30-50 SPX points in a very short time such as 1 day. In addition, the low volume shows that the institutions are still cautious.
Just opened a small short position. Stop 1250 SPX.