Monster rally on small volume. Taking some more profits on synthetic calls as we approach 982 SPX. nitro
This move today, adding on top of that the aftermarket move, imo, is completely priced. Nearly two hundred handles off the bottom of 845 in two days!!!! People will drive price where they want to, and you can ride the momentum, but it is pure speculation, and unless you trade, it is dangerous to follow in without being able to alter course on a dime. So as an investor, at best hold your shares, and don't be lured in the stampede if you did not catch the move. nitro
Getting back to value areas. Now what people are worried about is recession and earnings, which of course will be low and mostly devistated. But we aim for where the economy will be, not where it is. If you waited your discipline has been rewarded. Now it is time to dip toes in, imo. nitro
Support 930 SPX. I would not be surprised to see a close above 950 SPX, but these markets are wild and extremes rule their make up. nitro
Hard to believe this is all on bad earnings. This feels like more redemption selling, but there is one thing that disturbs me. It is not a cash selloff but a futures selloff. Unless the redemption is futures based? The entire 1000 point DOW rally erased. Value once again out of line. This time, let's see what the overseas markets do before we jump long. It is worth staying up into our overnight session because if overseas don't sell off, we may pay a higher price to get in long when our RTHs open. nitro
Completely panicked selling. It would be astonishing to me if this was strategy. Someone should flash 100,000 ES bid and take this seller out of his misery. nitro
It appears traders are trying to get in front of redemptions. That is a dangerous game if you don't take profits that day. Uh, you have to cover. If other traders see this, they will ream you up the ass and now it is you that is being gamed. I would not be surprised to see SPX 950. nitro
NQ itching to go green. I wouldn't sort here with your money, let alone mine. But that doesn't mean go long either inter-day. Wait until after 2:00 PM CT to make any decisions inter-day. You may miss a huge rally, but you won't get hurt by a selloff either. nitro