relax we're still testing this is the best time to enter cause you can get a tight stop let them run the lows of yesterday ideally then we see if we get follow thru. still long though its scary as hell. You have to remember everyone was/is getting short this is the firepower we need because if it doesn't breakdown that will cause it to spike the other way when all the ppl who are shorting now are wrong, so we need to to be ugly so the short, sellers of stock panic out removing selling ppl. Of course, it could be a REAL breakdown but lets we will see, want to see it get back above 43.60 to invalid this move down (or it will become resistance on a rally back up before it plunges most likely)
ok we got the stop run (albeit a small one), the retrace to kiss 43.60, so now we should try for real this time to head south..come on LONGS!!!
Still holding long waiting for the daily close, although its bleak now its all flop and chop lunchtime junk pushing the market around. Tbh, I'm surprised I'm not being slammed more by the peanut gallery since when your wrong everyone posts and when your right everyone ignores BUT.. I'm not wrong yet!!
i shoudl point out that the reason I'm watching QQQ, is because SMH makes a big part of them and they are been in a range, the reason the QQQQs are weak is that the Semis are trying to test the breakdown from consolidations, hence if its fake out it will rally hard the other way taking QQQQ with it. SPY & DIA are stronger than QQQQ and thus QQQQ is the trigger.
i stayed long because of the nature of the rally (ie rallied back to .57). If we had meandered about and sold off I would have sold out. I think tommorow with window dressing will be a good up day.
================= You calling me a pig son?????; my name is murray, nickname turtle, not pig or pork belly Empee; Seroiusly, its about 7;20/7;21 chicago time/premarket; looks like QQQQ $43.43 area found some support /buyers ,maybe close above 50 day moving aversage,SPY ES also. Not a prediction; but the plans of the diligent tend only to advantage- Solomon trader king