ES Journal - 2019/2020

Let's just call it a FED fueled FOMO rally.

I wonder how many people have lost money trying to short this market in the last few weeks based on their fundamental perception of the economy.

Maybe we'll get a second strong leg down at some point, but no need to be a hero just yet. IMO, of course.

 

What I think happens is when you get a big overnight push, you generally have a move for back and fill and then move upwards again towards the Hog. There are times of course where the overnight push is a blow off top------just need to figure out which is which. --But in general, we move back towards The Hog. I prefer as you well know, to have overnight pullbacks in up markets. ----We are now within about 500 pts of all time highs and we continue parabolic hier. --just a hop,skip and a jump now.

 

thanks for this as posted below, a few questions

appreciate if you or anyone can answer the following & if its a dumb question either ignore it or explain.... thanks

this is a need to know type information/education question

$100,000 is a fair chunk of money as is 6x leverage.

opening a 'portfolio margin account, an account has $100,000 cash (before margin add-on) ready to go to be used.

if you can help answer & figure out the margin IB would give someone where using the $100,000 cash position purchasing 1000 shares of a single stock at $100/share, then selling a long covered call on that stock DITM at $70 strike expiring Jan 2021 for an option premium of $45/share

would one get/qualify for $600,000 margin?

 

Why not wait til clearly saw the set up?

 

Ahhhh ok... I see!

 

I'll likely be posting more entries and exits soon or at least saying when I see a long or short is coming in. Just waiting on some things to go through. But I trade extremely active. Sometimes in three different or four different products at once.

 

The only explanation for the drop and quick pop is market manipulations where all news/data are discounted. If it is as such, then, this pop could easily turn 360 degree south when they are ready to take it down lower.

 

There's another explanation------The market is bullish.

 

You always said the same thing before the big drop to 2200.

 

So far, the market has remained bullish and in a bull market this entire time. At no time have we entered a bear market. We've had a correction that is being erased as we speak.