I look for 2685 to hold and that would be my stop out area. I'll get long sometime tonight or tomorrow with that in mind.
There was like 20 pages today. #1 financial blog..... Anyway, as always.... in no particular order. Sibs... thats a good one. But since you brought up JP........ I'll raise your Judas with some BOC Crank it up. The Veezee 2690 call coupled with the Veezee top of 2975.... aside from some Nervous Nellie selling, is panning out to be the greatest stock market call of all time. 2690 is a magnet. 2975 won't be breached aside from a daily spike. You can bank on it Izz. Yeah. "An incredible buying opportunity" @ 3250. Just sayin'.... You got 10 likes and 22 pages.... ...go hit some golf-balls B1. There will be no new ATH's btw. Its called $6 Trillion of funny money. Its like the Viet-Nam war percentage-wise, in a month. I'm no economist nor am I a physicist... but I do recall Newton's Laws. You don't get something for nothing babe. Of that I'm 110% sure. Mark of a pro. Retail or otherwise. Throw the Fed in there too. So do I. I'll go short right here... with my stop at 3175. I learned from the best. And last but not least... to Mickey... I caught this one on Sat radio.... now I knooow.... its a Disney song.... but it really is good. 1st time I ever really listened to it. I got your taste figured out. Just give it a chance. It really is a pretty song.
Oneliners can be very to the point, and very impressive. But this one to me is not. If you take the perfect entry you don't need a perfect stop placement as the trade will never go in a open loss and makes a lot of money. That's what they call perfect. Maybe (probably) a good entry AND a good stop is better. Why should it be this OR that? What is a perfect stop? A stop that is never hit? A stop that has the optimal risk/reward ratio? Etc... Just my 2 cents.
Fully agree. Perfect entries, if you can nail them down, really takes care of everything. Even in this environment, you can execute with fairly tight stops if you enter around extremes or on breakouts. And better entries also means more profits. I assume what @Buy1Sell2 means is that he's placing stops outside of noise or outside the zone that would negate his trade idea. As such - price can still wobble around with quite large swings in both directions as long as it does not hit his stop and thus validate his trade idea. But without a perfect entry - that usually means very wide stops. And those can get hit if you end up being wrong on the trade. Yesterday, I had 75 as the level which would negate the long scenario after 10:50 or so. As such, the higher you enter, the larger your stop and the smaller your profit. But if you got an early entry, you could get away with say a 5 point stop.
What's everyone's expectations for the day? Here in Norway, the official Easter Holiday starts today with the markets being closed today and also on Monday. I believe other European markets are closed today and on Monday too. London certainly is. I normally have not traded today both because it's a holiday with my family and since holiday often means lower volume/action, but being locked down alone in my apartment anyway, I will probably be trading. And in the current market conditions - I suppose we can expect volatility today also...? Fairly slow overnight session so far though.