My working hypothesis is that the seller is also the buyer behind the rallies; generating excitement with sharp rallies in order to simultaneously take off some size whilst continuing to build into a short position at the expense of the frenzied public and pension funds.
Futures fall as Trump asks for $100 billion in additional China tariffs https://www.marketwatch.com/Story/f...-tariffs-2018-04-05?&siteid=yhoof2&yptr=yahoo
So I was trying to get a small long to work and it missed target by 1 tick. So I stupidly had limit orders at some supports. Support breaks and I am down $ 700 for averaging into a trade when I did not realize what happened. I then reversed short and made back $ 300. I also started shorting CL. When I read headline I shorted again at market and then added to trade as it went against me with stop above the high of the day since I knew this is very bad news and was more than willingly to blow out my account if I was wrong. So ended up making back my loss and a $ 145 profit. I am done till Sun night. Not going to trade on Friday.
There is no teeth in the STOCK ACT to prevent executive staff from providing forewarning to anyone of these well timed official releases. All of the Kushner and Trump boys frat bro's are making bank.
Whoa... Just checked my screens & I was just given a gift... Resting buy limit was hit at last meaningful support at 2620.50... I`m offered at 39.50 for 50%... remaining 10 cars will ride with stop at even. I always adjust resting buy & sell GTC limits way off the market at RTH session close. You would be surprised at how many times I`m hit & wake up profitable the next morning. Iv`e been doing this since `01 & continue to do it till this day & this is reason why... always 2 ticks above & 2 ticks below the whole numbers. Gotta Love this Vol.... from both sides of the plate!
Based on the daily, price usually moves back to the SMA before further up. That line is around 2620, but the move already has happened overnight thanks to China. It might repeat during the day, but yes, it is a gift for longs...