Hmm, may I ask why a few of you have a long bias? I'm just seeing higher lows and lower lows on the 4hr?
I was wondering the same thing on this steadfast loyalty to the Long side only..... the only thing I can come up with is the newer players to the game, last 9 yrs or so, have only seen a slow, grinding melt up that has served them well... This is all they know. Toss in the slightest Vol & they become life long Southern Californians driving in snow for the first time... they become a ball in hi grass... Lost!
IMO correction is not nearly over. Tomorrow SPX (or early am in the case of eMini) will probably scare some of those considering going long - for at least a couple of more days.
Hope you are right SunTrader - I bought a little downside protection on the bigish pop today - a down day tomorrow would do me sweet.
Here we go again with tariffs If every week China announces new tariffs on new products the markets could be literally be 60% lower by Summer!!! This tariff talk will destroy the trump rally.! China announces new tariffs on 106 US products, including soy, cars, and chemicals The effective start date for the new charges will be revealed at a later time, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually. The 25 percent levy on U.S. imports includes products such as soybeans, cars and whisky, Beijing said. The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports that his administration aims to target as part of a crackdown on what the president deems unfair trade practices. Sam Meredith | @smeredith19
oh boy!! IMO these headlines are overblown.. this is not the end of FB/AMZN and the "trade war" is just a negotiating tactic.. the tariffs haven't even gone into effect. bottom line is that companies are going to kill earnings and NFP will be huge.. markets already down 10% from highs and the risky trade is to go short at this point.
Markets don't care. If things are uncertain. Sell!!!!!!!!!! Especially if you got big profit in hand. I don't care either. Just watch the technicals.