Nrsimha wrote:My personal take is that we are nearing a local bottom. That gap at SPY 184.98, or more importantly, SPX = 1845.73 needs to be
filled, along with that Myagi P-bar at 184.91 or so (maybe related?). In which case, I am backing up the truck.
This takes place today or tomorrow ------------- > ideally these targets get hit today, then tomorrow we get a quiet range-bound weekly opex day.
Then Monday is a lunar turn date (full moon on Sunday).
But if we break 1835.40 (my stop) today or tomorrow, I am going to circle the wagons and sell every rip, going into 100% cash for the intermediate/long term.
I must be brainwashed, too --- I can't believe 'bulls are over'.
We need a blow-off top for that!!
Update: Well, today's low on SPX is currently 1,845.19 and today's low on SPY is 184.99 (wow, within a penny of the gap and within 8 cents of Myagi's P-bar !!). So those gaps are filled.
ALL ABOARD !!!
I have hedged my position,if continue down I wll close them together at the same time,if bounce to Mr Miyagi's p-bar upside,I will close long position there and keep short position,thank you again.
breakdown, possible target. may see rebound here first.
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DumbMoney wrote: I have hedged my position,if continue down I wll close them together at the same time,if bounce to Mr Miyagi's p-bar upside,I will close long position there and keep short position,thank you again.
I respectfully request/suggest u change your avatar
For me it’s just depressing
Plus, your posts show that you are certainly not a dummy or a dunce
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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DumbMoney wrote: I have hedged my position,if continue down I wll close them together at the same time,if bounce to Mr Miyagi's p-bar upside,I will close long position there and keep short position,thank you again.
I respectfully request/suggest u change your avatar
For me it’s just depressing
Plus, your posts show that you are certainly not a dummy or a dunce
ha-ha~It's because Cobra's daily reports,sometimes Cobra shows the smartmoney/dumbmoney chart by Sentiment Trader,I feel the DumbMoney is very interesting as a nick name and..so..
We got what we asked for: red volume (red box, red arrow)
We’re oversold so a little bounce would be ok, but nobody could call that “exhaustion volume” yet… ?
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.