You will need lot more than a bong on Mondays open.. Lot more.. Markets will surge... your account value in the dust..
LOL at people saying this is bullish..futures are fucking tanking, and Gold has jumped to $1,016.50. ES at -1.63%, 1270.50 and dropping.
I'm with you HFT. Worst case, the fut's go limit down. You don't want to be short the fut's if that happens. That is the golden opp for the Fed to lower the rates to whatever. If that happens the market will react violently. Trading is about knowing how to do something over and over. The next few days are a perfect time to do absolutely nothing. Both bulls and bears are assuming an insane amount of risk just by putting on a trade. You go short and the Fed cuts you're screwed. You go long and something else unexpected happens and you're screwed. You go golfing and the worst that can happen is your broker will go bankrupt, in which case you're still screwed but at least you still got in a round of golf. Now that's what really matters
Probably it will be a quiet day tomorrow. Always when people think market will be insane it just moves modestly.
Missed the rally but sold 1309.50 just after 6 cst (6:19) .. WHAT A MOVE, right down to the 1270 MP area with scale outs below the MP level bust..sheeesh I may be up all night trading this action. I will start trading June contract from here on out..out of all my March ES bullets.
SPX is already on its knees , kneeling down at 1270 area, it finds a huge reason to reverse course and open higher. Dow will tag 400+ easily and the shorts will burn in hell one by one..