At least the market went both ways and cleared most of the overbought. Was a good day for intra-day trading.
Huge volatility across all stocks, mind blowing!!! Something is brewing and its not witching week either. The bank stocks went ballistic too as B1 mentioned earlier. Very puzzling....all I can think of is I was expecting volatility and it's here, too much for me to handle as a position trader so will remain sidelined in the meantime. I remain bearish in as much I think the market is too toppy atm for fresh entries, but there is strength here which keeps pushing higher.
I opened an account with AMP and transferred some funds from my TD Ameritrade account, problem solved. Closed my IB account years ago, very overrated in my opinion. I expect, but cannot confirm that IB makes a nice Vig off of all those funds with increased margin requirements. TD Ameritrade is basically the same but not as extreme as IB and at least they have genuine customer service. Firms like IB (I expect everyone does these days) have auto liquidation if things get out of control in an account. But they will justify increased margin requirements and say it's to protect the customers and the firm. I don't buy it because I was a broker at a couple of firms and that went through different clearing firms and I saw how things were managed.
Anyone else dumb enough to try to pick the bottom at the end? Or was I the only one who went from +100 to -30 in the last ten minutes?
You and me both, brother. I cannot recall the last time I saw a midnight to ETH close range of 600 points in the NQ. $12,000 per contract? Hah! No thanks.
Except there is nothing in that tweet that would suggest sarcasm. You can always tell the people who claim sarcasm that try to look cool, and "elevated" when there is no sarcasm in the post.