Its about time. I wouldn't sweat it though. If we were going much higher we would have Friday after that news out of the Fed. This is just noise. Its literally algy's taking money from, to quote B1, teenagers in their pajamas. Any entry short here will make you money before the day is over. It may nip at 3K, but I feel pretty damn confident we'll see 2960 before the bell. For "journal integrity", pencil me in as short at 2993 if it hits it. Stop at 3022. edit... i'll fine tune that to 2994.
Well to quote @theapprentice, the casino opens here in just under an hour. Should be good. I see we didn't make it to my 2994 today. Fear not however, it should get there pretty quick out of the gate tonight. 3008 might be seen tomorrow. Looking at today's chart I think I might have been wrong about 2960 tonight. It didn't play out like I thought it would today. I wanted to see a good spike up to near 3K. Hmmm. Well, we'll see.
Speaking of the Izzy Bottom, I have to applaud B1 for not just his acumen on the reversal but his character as well. Not once did he lash out against his detractors. Something every one of us could learn.
Removing stop. Would rather play with the position tomorrow than get stopped out whilst I sleep! See how we're looking tomorrow. Only a small trade in the swing account. I'm sure the Fed will insure i'll be ok lol Good luck all
The Izzy bottom is laughable. When you have S&P drop from 3400 to 2200 in the space of about 17 trading days, its not hard to throw caution to the wind and call a bottom. A 35% correction.... 35%... Gimmee a break. 35 friggin %. The entire trading world knew it was a bottom. I'm sure he's up 800 points too. Edit.... and note he never called "the bottom" until way ex-posto-facto. Like 10% later. And even then he never threw a number on it till I pimped him numerous times, at which point he said 2400 when the ES was near 2700. It's like the Wizard of Eff'ing Oz.