Cobra deviated from that chart and went short mid-day and got screwed. I myself sold my XME prematurely, only 100 shares though. I should've swung traded into USO before the close. I'm no longer 100% long.
Well, I was pretty close to my stop, but I thought I would keep adding until we reach it a comfortable distance under 200 SMA. The VIX is up today even though the SPX is down only slightly. I believe that the fear will dissipate as we rally till the end of the month.
Well that was a pretty frantic bounce there. Europe should gap up tomorrow and given the technical situation I don't see too much room for more downside (I haven't seen much room for downside for weeks now and it's essentially not really gone down, except everybody is acting like it's a bear market for some reason).
Spy is positive on the day again :eek: Intense ! Waiting for the bounce in Europe tomorrow as today has been a disaster there. As of Hong Kong, the market has been very distressed the whole month, so I don't hold my breath
Spy went up to 129 premarket. Has been rallying the wrong way ever since and Europe has lost almost all its gain, might as well close red after yesterday - 2% day
SPX 1271.5 is significant. If we close above, it'll be the 2nd straight positive week. If we close below, it'll be 6 weeks negative, 1 week positive, and back to negative. The positive week last week only amounted to < 1 SPX point.
I hope you remember that this is deadbroke's third top call. Be careful listening to him. The market loves to rally just to see him drop his shorts. Sick market, eh?
They just gotta take deadbroke's name in vain. Just because THEY spend 30 years in the markets and NEVER getting even 1% better they think that deadbroke's formative months in trading wherein he called erroneous tops is END OF STORY. Truth is there's never been anyone like deadbroke EVER at ET who has made this much progress without HELP so fast. Try to have the Markets fck me now. Virtually impossible. Some losses yes, but no outright fall on the ass - but the wins are so staggeringly huge that the few losses if any, NONE FOR MONTHS AND MONTHS are miniscule in comparison. Case in point .... deadbroke exits as per his own guidelines - RELIGIOUSLY - while the clowns keep talking and discussing fundas, deadbroke is already cashed in and off to the beach and doing something else, anything other than trading. Uploaded with ImageShack.us