I bought a few $471 puts for $.9 ave, they’re almost $2.20. Is there no end to the collapse? Took them off now. I don’t have Schizo’s fortitude!
If that ever happens, you're looking at nearly 3% drop. And that's quite a plunge, which doesn't usually happen unless there's a real panic. But either way, we'll get there eventually IMO. As I alluded to a couple days ago, this could be the start of another downtrend (eg. second wave).
See my prior post, @schizo. I mixed up SPX/ES. It should be the other way around. We should get another leg down, but we're closing in on a possible low for the day. I would say we'd need a 30 point counter rally to kill the down trend from here. Intraday. So, this is still an intraday short, but it's a sucker play to short this right here.
Got ya. I missed your other post. I think we've made the low already and will very likely just chop from here to the close. We could see 10-20 point counter rallies but those are merely dead cat bounces.
For you chartists, on the daily chart, a measured move from the highs and down to last week’s pop-up puts us at about 5200. depending on velocity, this also puts us hitting the weekly trendline starting in Oct 2022. on the phone but can’t post a chart currently, but I can see 5200 in the coming weeks/summer.
Aloha Ted, Trading is lonely. @Apprentice setup a discord group to kick the shit in while day trading. I don't know anyone (in person) who day trades, and it's nice to help pass the time Pretty much just him and me, but a few other people from this thread stop in every once in a while to say hi