Exactly. Plus: BTFD =/ catch falling knives BTFD is actually short for BATFDOTFWU(AUAFS) Buy after the fucking dip on the fucking way up (and use a fucking stop) Congrats again to @flash crash and all others making out like bandits yesterday
So far overnight, it's the same pattern after every big 1 day selloff this year. They refuse to allow futures to touch red, then it will open up with a small gap, have a minor fake fade and meltup all day with not a single red print. Optimistic that we are on our way to making that V.
QQQ was like 512 AH after the MU report, but with the magical futures pump and the way this thing works this will touch 522 tomorrow like magic and bam, there you go. Really, we had about 3 hours of selling, which is about all the market is capable of anyways. I think I just have to accept that despite it being an unstoppable market, there will be an occasional day like today. The good news is that if you can survive the storm (not quite today the way I wanted, but stuff happens) then you are already going to get that V and recover. After that it's usually a very long time till it happens again. Who really panicked after today? How is it any different than early August? Everyone wants to buy the dip. Everyone knows how difficult it is to sustain downward pressure or volatility.
Well, who am I to argue with the V-man, but I don't think the slide will end with just 1 day. Really, I've always kinda liked your blind optimism, but when shit's hitting the fan left and right, you should learn to duck. At the very least, keep your mouth shut until the storm passes.
I think we might retest that support before making a reversal, or maybe even that lower trendline. Of course, if we break below that, then it's time to pack up and go home. Personally, I have a nasty feeling that the market will try to twist Trump's arm before he is sworn in to get as much concession as possible. But we'll see.