Thank u mr Powell for injecting some much needed volatility into these markets. Last weeks trading was sloooooooooowwwwww
His trade already stopped out unfortunately. Time stamp of his post is at 3pm, and ES moved to 4429.25 at 3:08... so he got robbed!
New Zealand is in a recession officially. But I think ES is very difficult to make money on shorting, at least for the summer. With high concentration on fewer mega names, one can pump high volume call options to stop the index collapsing, like today, NVDA was crazy. We need some very bad news to deflate their valuations, and when everyone realizes AI is too far from reality. YM and RTY probably have more upside when rotation starts. Call spreads are probably more safe than put spreads on SPX. To add: WTI is below 70 but my gas station premium is 4.2599 for weeks now, higher than when the war started last year. What gives?
Yeah, it stopped me out and then reversed and went all the way down to my profit target. I swear, these guys love to read my post. LOL