surprise, usually a huge gap like this, the market would rebound immediately upon the open...
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I was following your blog for a while. I really enjoy it. That's why I just registered this forum.
I also believe that we're going to test Aug.9 low. I think the market needs a big washout if we want to have another bear bounce.
Wow, declining issues opened 2500 and went to 2700 within the first thirty minutes
Breathtaking
Obviously all other internals solidly behind this drop, but looks like they need a breather here
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Mr. BachNut wrote:Short position built last week is still on. Now in the money.
My mechanical model did whipsaw back to a sell yesterday in classic bull trap fashion. Amazing how bullish things can look right before dive.
Did not quite get to full position as last tranche had a sell price of SPY 122.2. OK with that as being short in front of FOMC was very scary.
Resistance zone held amazing well. Stop loss point was not even flirted with. Confirms Bear Market rules remain in effect.
Should have finished the position on the break yesterday, but I am a tortoise not a snake and thus too slow.
Trend line of rising bottoms from August low has been violated. So, this is our test of the low and a double bottom can be looked for in coming days.
Will be looking for some kind of low and a positive divergence to form to get bullish.
That said, I don't plan to overstay my welcome on the short. If given a good price, will take profit arbitrarily without regard to technicals. May happen today.
Congrats. Thanks for updating. My shorts are also looking rosy although most of mine are to be held for the medium term. While I am expecting a bounce over the next few days, I will stay short.
Anyone listen to the pit trading of the S&P 500 /SP big contracts? (I went to check it out today) What does it mean when they say, the papers are selling or buying?
Just trying to see if the “quick reply “ works.
I tried 3 times to post some stuff and charts here this morning, but I was kicked out of this blog every single time…Something technically wrong?
I might try later again.
jarbo456 wrote:wow. stronger rebound than i expected. pretty much straight up for the past 20+ minutes.
Jar
U don’t even wait for a higher low; I see one little doji and next stick tail to VWAP, now this stick red.
On an anti-trend trade?
Wow, you guys scalping seconds/minutes. Are u that quick?
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
jarbo456 wrote:wow. stronger rebound than i expected. pretty much straight up for the past 20+ minutes.
Jar
U don’t even wait for a higher low; I see one little doji and next stick tail to VWAP, now this stick red.
On an anti-trend trade?
Wow, you guys scalping seconds/minutes. Are u that quick?
haha. depends on the day, but yeah, sometimes that quick. but that was more of a general statement in regards to what i was seeing on the minute and tick charts.