My brothers a stock broker of 27 yrs and he's down $2 mil. I know a 35 yr broker at Jpm morgan down $5 mil. My friend with a $3 mil account has been selling naked puts on high flyers for the last yr coining cash He's probably lost at least $1 mil. But these guys still up 50% the last 10 yrs . They need to dump now. Wouldn't be surprised to see 1500 or lower before all is said and done
I'm from Norway, so you probably wouldn't be able to read it... Basically, there's one guy who actually had the foresight to sell his entire portfolio near the top on the basis of corona. Then there's the guys who confidently said this is just a small dip. They are no longer confident. Then there's the guys who's been boasting about their returns and how much they're up for the year (pre-crisis). Have not heard from them since. Then there's the guys who's panicking and actually selling.
Looking for a buy around 2345 for at least a retest of "You Shall not pass" As we didn't retest it since yesterday Asian session
Interesting. If you did some sleuthing here, you'd find the same patterns. A lot of the vocal types that rode it higher go silent, disappear. I still remember how many longtime posters on this site disappeared around 08-09. Not to imply they all blew their accounts. Some did, some just moved on from the carnival.
You're alright in my book. Heck, you posted the analog I had been silently pondering in the months prior to the collapse (I actually was much more keen on it last year, then the market went haywire in Jan/Feb. Tesla, etc...) The reaction you received was a strong tell.
I think we're headed lower. I don't normally do overnight plays, but I was short 2363. Trailed myself out of the trade with a stop at 2360. Didn't feel comfortable holding it with a wide stop. It seems like I may have been stopped out on the high retrace. But that's my best bet for the overnight session. I think we make new lows tomorrow.