I got stop out so often in the last few days, either long or short in day trading accounts, I can't see reason the uptrend will hold. Also none of my stocks are outforming the index in the last 2 weeks. amzn, googl, tsla, aapl, etc are flat. I don't understand what sectors are driving the index up. amd nflx also came down hard, as the china tech names. Monthly SPY 415 and 420 calls, and 390 and 400 puts, are the walls.
Someone who is both admired and hated by many at the same time, has said in the past, if you know the fight is coming, hit first. This can be compared to trading, like in your case now, you aren’t willing to wait for a confirmation, you know a selloff/retracement is coming and you are making the first move.
can you elaborate what you mean here? my observation of a whipsaw reversal is usually indicated by greater volatility and sideways range. but i feel the ranges and pullbacks we've been seeing lately has been very linear and orderly, catching everyone offsides. the 'chop' we've been seeing seems to me more characteristic of an orderly pullback
Where the whales at, @Master Pu? Just about the same area where we failed yesterday. With 32 minutes left we need to start moving here.
You keep asking me this as if I’m related to them haha. All I can tell you is that I expect SPX to touch 4200 during this leg. We keep putting in higher lows on short term charts.
4180 was my target for today, but when we hit it early I started counting dollars and thinking 4200 was possible, although by my view it was unlikely (Outside Day). Unbelievably, I had a limit order at 85 that I pulled. Ridiculous. Still a green day, although it would have been greener if I didn't rack up losses pre-market trying to capture a bottom (until I did). Oh well. Tomorrow's a new day.
You introduced the term in this journal, I think, so yeah. I'm gonna keep asking about them whales...
Pay day for @schizo! Weekly low here. Will the range low hold once again or are we actually selling off here? I still see thick support below here, so unless I had an entry like Schizo, I wouldn't short this here myself.