%% GOOD POINTS, good percent, Spec; but thats long term. Short term charts, like June, JUL,AUG in some inverse etfs, are going up. SEPT is a sell month for many stocks/ETFs.[Based on charts+ many aug\sept charts]
Growth expectations are getting slashed (among other things delta COVID, China), although we saw forward P/E deflation so far this year it wasn't enough. TBH I'm ready to dip buy anyway but expecting (=hoping) for a larger drop than so far before that. Spooz is barely showing a dent yet. But hey, I'm always behind the curve so I'm sure the market will take off without me. After opex vol will increase and potential for trendiness in either direction will be better.
I am long in all three major indices now, so expect movement. Which way? Who the hell knows. But my wonder-solo powers have activated, and my piker micro-lot trades will be bringing some serious action over the next two trading days. Don't miss out on my inadvertent powers! MAKE MONIES OFF THE SKIN BEHIND MY BACK!
It's going to be a brave new world on Monday! TBH the anecdotal fact that so many traders seem bearish to me is probably the main reason I'm skeptical we will go down much. However, various better conducted surveys are showing sentiment highs.
Why Monday? Nothing major coming up on the economic calendar next week. The week after though? NFP right before Labor Day holiday. That should be a pip!
Options expiry Friday afaik, after that market maker delta hedging activity is going to be wildly different! (It has had dampening/mean reverting effect so far in August).
Hi Ken, Aloha from Hawaii. I too am long uvxy from Monday (calls), just found out about it. I noticed it can make some big moves, not really sure how to treat it. Can you share any thoughts on how to play it? regards, Tonkadad
Bah, I wouldn't put much stake in that. Just follow my lead and follow my entries. The markets go down when I get a little brusque with my longs. And I have gotten brusque. Starting to extend myself a bit more than I usually do, and market makers everywhere can sense it.
Hi, howzit. I don't trade UVXY options (yet), though I've traded VXX TVIX UVXY for many years. In general they're very difficult. There's dozens of lessons learned. Not advice, but for myself I usually don't buy gaps up premkt anymore bc they usually drop vs continue up.