poor guy is absolutely clueless, and comes in here asking all these rookie questions. Yet, he has a chatroom where he teaches inverses, yet he doesnt look at futures. Things that make you go hmmmm for $100 Alex.
After looking at some forecasts I think you might be right for tomorrow morning. I don't watch the news anymore. It just pisses me off. There are plenty of sheeple to do that for me. But I am expecting oil to open about a buck down from Friday and dip some more through the day. I am still bullish on oil but tomorrow won't be my day. As for the market in general, I think buyers are feeling the pain and fear of buyer remorse, and sellers are grateful to get out. For the next few days at least. But no, I don't think it is time for a big crash just yet. Everybody is holding their breath for elections and an end to the epidemic. We are overdue, no doubt. But I think things will hold, more or less, until there is one or more major catalysts to push things over the edge. I just don't see a spontaneous crash before the end of the year.
Good points especially re crude, my easiest daytrade Friday was long inverse crude SCO. other favorites SDOW TZA UVXY. For swings, SPXS SRTY SQQQ FAZ LABD SOXS
end Feb 20, the very strong bear pushed the PRICE down by about 50%. end Mar 20, the very strong bull pushed the PRICE up by about 45% to roughly where it came from. Now the PRICE is exhausted, and PRICE needs to rest.
Hmmmm XOP and USO are looking kinda strong in the premarket. GUSH went up, going down. Seconds from the bell...
I'm up slightly on all my bull bets but QQQ is down a bit. I'm long on XOP, USO, TMF, and BBBY. None of them are disappointing me.
Bears and bulls are going to tire quickly of talking up their bias every other day. Chicken Little died a violent death in March. For now. Short term retail wanker panic provided a sweet value opportunity for the long term commercials. We're going to be in a rangebound trade short to mid-term. Make the best of it. Take your little piece out of the market and move on to the next trade opportunity. Get that Bullshit Market Wizards macro bias call nonsense out of your head - it hurts you more than it helps you. We are officially in a RECESSION, not a depression. It will take a slew of bad or good earnings reports to get us out of this range. My guess is on the former, but you've got the Fed to consider - and as a side note, an ocean of outside money (like overseas Sovereign Investment Funds) buying US Tech Companies. Norway is insanely over-biased on US Tech. Monster. Just my opinion - I'm a futures spread trader and not a stocks day trader. I wish everyone good fortune.
Byebye, bears. Drop that pickanick basket and run! Up 2.4% for the day so far. Stopped out at a profit on USO, XOP, BBBY, dumped TMF for a buck profit, holding FB and AMZN and I shoulda bought TQQQ but I honestly wasn't expecting this little rally to be so strong and now I am out of daytrades again. I like to be able to bail when I am long TQQQ.
I am up 3.5% for the day so far. Look out, here comes the bull stampede. Everything I touch pays off today. Bears, bears, go away. You can play another day. QQQ up 1% from the open. TQQQ 3%. It's like Pamplona. I shoulda held my oil stocks too. Sorry, Ken. Maybe tomorrow will be your day.
Congrats! I daytraded TNA for a win, I go long bias if the market goes up . also put in pivots TZA UVXY in case they bounce.