Funny, but actually some guy was on today on CNBC discussing it being a bear market so it is doubtful that there is much more room to the downside as the legal Pump & Dump crew starts pushing the bear idea near the intermediate lows. Next 6 weeks are seasonally the busiest trading times of the year. Dunno who is losing money, maybe investors.
I'm finally doing good, you gotta love the short side... however today was the peak, usually it means that I have to start looking for some long setups. I guess sooner or later the market will bounce back on short covering...
I'm finally doing good, you gotta love the short side... however today was the peak, usually it means that I have to start looking for some long setups. I guess sooner or later the market will bounce back on short covering... I saw the same thing today. It does not mean that I predict tomorrow will be an up day although there is a good chance it will, but I saw resistance on going lower and some late recovery on the stocks that I am following like XLNX, ADI, INTC, and TXN.
I try not to make predictions, but I've been playing the short side since Monday before the $NDX 1618 high (btw: funny, it was the fib phi-1.618 ) and the last 2 days were just "too good". For me it was always a sign of "the trend is about to reverse"...or we are about to crash?
I try not to make predictions, but I've been playing the short side since Monday before the $NDX 1618 high (btw: funny, it was the fib phi-1.618 ) and the last 2 days were just "too good". For me it was always a sign of "the trend is about to reverse"...or we are about to crash? I would appreciate if you clarify this to me: You said you don't do prediction . Does it mean that you always cover your short position every night? When you are long or short and keep your position overnight, you predict that the next will be in your favor based on your position. Even when you enter a position during market hours, you make a short term prediction based on what you see or what you hear in the media. I think there is nothing wrong with educated prediction but you should have a good stop on your position.
well, for me prediction is if I say: "tomorow we are going up"...I don't know what will happen tommorow...but I can predict the move from a top to the first support, which happens intraday. and yes, usually I don't hold overnight. However, for the last two weeks, I would enter 5 to 6 short positions just before the close, with the intention to cover them at the open. I would only short the "safe" ones (with minimal risk/reward), where I know that even if the market opens up, I will be able to cover at a "decent price". I only did that for the past 2 weeks, or so, because it was obvious something was up...the last triple witching exp. day was scary....in case we crash I want to be ready. I'm not saying that we will definitely crash, but right now, the chances are much higher than 3-4 weeks ago. I will do it until I decide the risk is not that high anymore.
this increase in volatility has given us some incredible daily and intra-day candle range extension ---- that is a gift for a trader, so take advantage of it.