Nice although options on futures looks a better way to play it. The way how volatile the futures are, we might end up in the green by the open. It has just rallied 60 ES points from the bottom.
well it has hit support and it hit it fast so it will not go through on first attempt. it will recover and try again. and try again. and then if it cannot it will settle down for a drink of scotch and German Frankfurters
%% ON a short, better too soon than to late; see what QQQ does on 200dma close, l,ate . LOOKs weak now; but parabolic stop + reverse is looking good for the longs. But good to hear the fed say its too early to cut rates.................................................................................NOT sure why the media is so negative on DOW; SDOW is doing fine. LOL.Good profit on SQQQ
I wouldn’t be buying. Nothing indicates the bottom is in. To the contrary I’d be selling rallies. Until we see things stabilize. Rallies without a bottom put in are weak rallies and just PB’s.
I'm told by many of my friends that certain banks (in Norway) have been sending out 'don't panic' letters today - reminding people of the tax benefits of owning stocks (funds) and that you'll have to pay tax on realized gains. LOL. I'm also hearing from a few of my other friends saying they're loaning up their houses to buy stocks. This can't end well