How funny? Dow is down more than 300 points already but it doesn't even register on my radar screen anymore.
Long 961.75 stop 959 - big reversal formation on 1 tick chart Stop moved to 962 Stop moved to th 962.75
932.50 is the next stop. However this probably won't be hit until tomorrow as the NQ is now moving sideways on the 60min chart. ES & YM are trying to find a bottom here to bounce. Too much selling pressure though to make this happen at this time. Should test the 932.50 1st.
If you're ever concerned about catching the falling knife, give yourself a buffer to work with. For example, if I believe 943 is the bottom of the day, I might place a stop buy order at or above 953 once 943 is hit.
Nah, I like to look for momentum to bail me out. not so today. I don't play with knifes. If I miss the short i.e. the mkt gaps down on me then I catch the SDS instead of the ES short. Likewise if I miss the ES long then I play the SPY instead. The stocks are a bit more effecient then the futures as far as my style of trading goes.
Stop moved to 964.75 minimum +3 Stoppedout Plan Target appr 977 - I expect resistance here, I will reenter on pulback around 970