And flat. Not sure where this is going to be honest. Seems a bit oversold short term, but if it's a solid down day we can go plenty lower.
very nice, @Laissez Faire !! i missed it! Was at work then got busy with stuff. Just catching up now.
The /\ force is too strong atm... there's likely some small down legs. Save your bullets... don't try to catch a falling knife atm on BTFD.
I'm short again. 2 % down at 5736. I don't see why not. I will take profits at 60 if I get it, though. Always mindful of this ripping like crazy out of nowhere, but it's a nice down trend for now.
Never easy to hold short when the market starts ripping, but I think we can get one more leg down here.
for what it's worth I took a big hit on my YM longs, although overall it was really nothing against the profits i'd made on BTFD over the prior few months! Probably the equivilent of giving back like 4 days profits on that trade? (out of maybe 50+ days) I like to think of it all as 'one big, single trade'! lol. So i'm all flat now. Not sure i'll trade today as haven't done any homework at all and would kind of be shooting from the hip. Feels like SPY 169.50 ish could happen which is another 25 or so ES handles down, but just going short is scary enough....never mind 'chasing' it! So i'll probably stay out here Flat for now. Will be trying some daytrades (likely not until tomorrow) and waiting a little longer to see if my medium term bias needs to be adjusted or not! (e.g is this just the usual 'blip' we always see where bears get too enjoy 2-3 days every few months and get excited only to have their faces ripped off by the bull?? Or is it the start of a much needed 'correction'!! I dunno!!!)
Apple, Amazon and Intel reporting after the closing bell. It seems to me like an SMCI-contagion effect (45% down in two days). Microsoft and Meta were not great, but nothing to justify this sea of red. So, in tech stocks the theme right now seems to be "let me get the hell out just in case, I can always get back in later". That, or people are starting to get jittery about the election being too close to call for weeks or months.