Today again was one of those oddities, where people are noticing crypto is becoming less volatile than stocks. Haha!
Bull-trap, or did the paper-hands sell at the bottom again and just give all their equity to the bargain-hunters?
yes. On the microphone usually. live. he's in the US so i guess he watches it a lot to cath that trade. But he catches every swing. If I showed you his entries for teh last few wekes you wouldn't believe me. I joined him short today
My observation is I see all this noise on down days but on a tremendous up day like yesterday it's crickets and all the geniuses have nothing to say. SPX held support 6 times this year and there are people on here who said it was crashing all 6 times. Looking at markets minus IT, NA markets are up this year. 30% of the SPX is IT. The importance of that is if one trades no IT stocks at all, there have been more strong long trades then short in 2022. I suppose in IT it's the opposite, but whenever we get to these levels, I'm not so sure the short trades are all that reliable. Case in point anyone short FB before earnings or short a lot of stuff yesterday.
It seems that there is a certain similarity between Ark Innovation and Nasdaq (from 1993 to 2003), if it were to continue like this....it would all be easier
Looks like Bull-Trap it was... unless Monday turns out to be a double-bluff. Haw! My portfolio is getting decimated, but that's ok. I plan to start the Rolling Machine and just push-back all my losses just like Karen aka The Super-Trader style. Desperate times take desperate measures. I may very well have to double-down and 4x my Netflix contracts shorting PUTs into LEAPs expiry for 2024. Only problem, knowing Murphy's law, that's just around the time we find out they file for chapter 11 bankruptcy. Wouldn't that just make my day...
Here is the 2022 forecast published in December 2021: https://thepatternsite.com/Forecast.html#NF2022 If this prediction is correct, it'll be a down year for the Dow. It'll lose less than 1,000 points with a peak in March and dip in July. After July, the market goes sideways until the end of the year. Of course if it continued like this...trading would be much easier P.S: Has anyone read Larry Williams' 2022 forecast?
I think we may get a dead cat bounce, headfake up Monday am, possibly even a 2day bull rally, followed by selling either Monday afternoon or later in the week. I'm big picture very bearish, but expect a difficult, whipsaw market next week. If we do get a red open Monday, I'll sell my uvxy sqqq gap up at first sign of reversal to book profit. I wish it were easier to trade... fortunately I got it right re not stopping out of swingtrading inverses during recent bounce. This up and down stuff, gotta love the volatility. Best overall strategy I like is pair daytrading uvxy/soxl breakouts and pivots. Good trading, all.