Discussion in 'Trading' started by lylec305, Feb 2, 2018.
If it gaps down big, push the BUY button and close your eyes...LOL!
Hmmm. I really don't think Asian markets are going to like Friday's USA action AT ALL, even though Asia closed down on their Friday close.
I bought the dip.
Why? Nothing fundamentally different in the market. Only change was small change in interest rates.
The Trump tax cut is Big. It may lead to much higher deficits in the future but not now.
I started another thread asking for data support but best I could tell decline was orderly with no abnormal volume trades. Someone/s big was selling but no one is sure who. On the other side someone big was buying. Me.
At the heart of is that almost everyone involved with big volume benefits from higher stock prices. Everyone is getting a % of a big number. Plenty for everyone.
Only thing that would really tank the market is an exogenous shock.
I am calling for at least a +200 on the Dow on Monday.
Monday will be fun.
200, that's it? Party pooper!
Overnight - What do you want. I am actually looking for +400 but I am conservative.
Truth - I have no support for any number. If anyone does please post for all.
Just saying that I thought the Friday decline was overdone. It I get 200 I will be happy. If I get more then Wow!!
This is the kind of decline I have been looking for to test my hedge strategy. Unfortunatley I went long too deep for my risk appetite on the current contract months and didn't hedge. My instincts are telling me to go long here, and considering the percentage drop it could only be done on Sep contracts at this point for enough recovery to offset the March losses I'll most likely incur. I am still not sure yet on what to do.
I am an options trader. I am doing this up coming week. Why? Vol and bid/ask spread. Have no idea on how to do +3 months out.
Looks like tomorrow will be green. ES opened down 15 points, but at the time of this writing, it's only down 5 points now. I would have thought ES would still be down 15 points. The thing about momentum to the downside is that it requires continuous progress. A market can continue grinding higher after days or weeks of no progress, but to go continue going down, the market cannot pause for long. Otherwise, the dip buyers come in and vix drops like a rock.
Correct. In addition, we remain in an uptrend.
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