Traded uvxy premkt buy 12.8 sell 13.7, traded tqqq soxl with rally , now at 12:12pm ET I'm fading rally by buying uvxy sqqq as they bounce. What's your snp call here - trade it or fade it?
%% I like the way market makers/specialists some times hit a target\resting order Good thing i kept a few longs\ not many; inverses make + made much more, usually. AS of 11;15, SPY is not even up for the week, its close to up , maybe. BUT close doesnt count except in horseshoes .....
You had a chance of scalp at 3675 on the ES but it's still in an uptrend. CPI is today though isn't it.
When horrible, horrible news comes out, and the market freaks out momentarily but then goes bigly higher, my witnessing experience has always been that such is a huge bull sign. But we are in a huge bear market, so who knows. Tread with care though, the bottom will be put in at SOME point, and then it will go radically higher!!!
%% I considered it\ + i sometimes do bear rallies. That's counter-trend But bear rallies maybe ''transitory'' as Fed said. [Dont know if he was talking about bear rallies\LOL] Glad i have a few longs, but even in AF, hindsight[noon CST] SPY was not up for week . SEE where SPY closes for day, week + month.
Market has much more downside left, like a drop of 50% or more. In the long term, I would go bearish, BUT in the short term, market could rally to squeeze out the shorts. I never play these kinds of intermediate game... Give me the ultimate top or bottom, and I shall go all in!