i think you guys are too early to be shorting. It's going to consolidate; what purpose would there be to trap a small amount of bulls up here and then slam it down? They need more. Prediction update:
Glad you got something out ofmy hubris..... Be careful of the gap up, cause they can just as easily turn it into a squeeze, if it gaps up im looking for a double top to add, then risk off the high of that top, if PACB gaps down i will be more aggressive, cause longs will be sitting there with the sell finger on the button all day.
Thats why i flipped from short to long today, ES could be an easy roll over here, but it could just as easily turn into a short squeeze, best thing to do in this market is just react to it when its at extremes.
yes we were in agreement with you..on the long side..just speaking lastly of an individual stock to short..PACB
Interesting day! I did have a look intraday and saw serious volatility....however on a daily chart it just looks like a minor extension of the rally. I'm looking for 2000+ by the end of the week, imho a real possibility. Equity fund managers who have been pessimistic about this rally and who have been on the sidelines ...well, they just can't ignore it any more, probably be fired if they underperform in the final quarter of the year.
Look at last night's range...it's literally like an entire trading day's worth of volatility...20+ pts...With VIX collapsing, the Rickshaw trade is still hit or miss, but I think Max played it very well...got out of that nice little uptrend and then it was just slop or chop for the final hour or so.
Just to think the dow has moved nearly 1000 points in only 4 trading days.....1000 points. Not 100 or 398 points but 1000 points. Can anyone tell me what has changed in 4 days to warrant a 1000 point jump from Fridays intraday low to today's closing???