ES traded another 7.25pt entire day's range following yesterday's no-range in the pit session there. No one on earth has ever seen market action like this, because never before in history has the U.S. Fed become a direct player in financial markets so blatantly open and unabashed. No one has ever traded socialized U.S. financial markets before. It's all virgin ground right here. Meanwhile, we gotta filter the trades crisply and avoid chasing the junk. Friday sessions tend to trigger that impulse worst, expecially inside a tough week. Fact is, markets have short attention spans. QE1 and QE2 have been fixations for awhile. Markets will shift focus somewhere else soon enough. The endless cycles continue in spite of any and all outside attempts to harness such. Only a matter of time.
no , prefer k.i.s.s. method,if wrong will have to cover,stop out here would be 1231...djt closed 35 off its high and spx 1.25 off its high,one is cheap or the other is expensive
"Privatize the profits, socialize the losses." The losses have been socialized and the fed needs to recoup something.
Well, here's a gutsy call. Any subsequent pullbacks will be buying opportunities, just don't be greedy, screw the bears and get back out into patience mode for the next on sale opportunity. Start small and average down, you got the fed behind you. Basically do what ammo does but with the trend.