I'm long ES. How can I hedge against a big drop? Can I go long yen? Or is it too late? Anything else? Both oil & gold turned up when ES went limit down. I'm wondering if they'll follow through.
Yen and Euro already reflect the selloff "best" scenario I see is buy more on the way up, if we have a bounce in the middle of the day.... I see no good soutions
SPY is trading down around 8.37%, that is the best indication u have as to where futures will re-open
That's what I did yesterday, but bought it back. What's weird is TF started going up at 9am. Someone knew the market was headed upward. So I added a long on TF just for fun. Oil too.
To update the thread, I hedged my long ES position with shorts for YM & TF. TF is the weakest, and YM the strongest. Normally I'd short the weakest but I figure this gives me less risk. I'm not sure I shouldn't have just sold my ES long position but I think it's much easier to keep track of this way because I will try to get a profit on my hedge positions. Does it make sense?