My reluctance to go continued short right now in QQQ is one other very important feature ......... Nadaq/SPX ........ sone of a gun is on a massive trendline support and has bounced. Don't want to fight this type of juice, so I'll wait for resolution. Its monthly, so there is stunning power in Nas/SPX. I'll wait see chart that I CANNOT ignore ............... see the bounce off the trendline?
Responding to your inane SPX Closing gain over a 10-day period, dig this .... SPX Closing hammering since all-time Top on January 4th, 2022 (4818.62) to current bottom (3666.79) = 1145.83. That's what I call a solid hammering, a lambasting, a pasting, a good wholloping on the bum. Her rear endd is just about twitching in confusion and agony as FEAR has entered the arena of the Descending colon She even entered BEAR market territory by your very own pundits (who I do not follow nor subscribe to their bs 20% level). What is of far more significance to me is that the actual relevant level when SPX got a reprieve was the 23.6% retracement level which gave her a solid boost that catapulted her toward the 14.6% level .................... 14.6% level = 23.6% level divided by the golden ratio (1.618) = 14.6%. I'm typing fast so expect mistakes, sorry guys. SPX daily http://tos.mx/8pdBkGm
Nine_Ender, Come to play. Pls note that YOU yourself did yourself in with your own posts. You have 21 posts in the top call thread I indicated. https://www.elitetrader.com/et/posts/5511112/ See post # 148 .............. just a mere 7 days before the current thus-far-holding-top you had the gall to blast op for the 20% crash call. HE nailed you. He was right and he gets enormous credit because he did it in advance not with hindsight. YOU LOSE! Jesus H Christ, just 7 days which could be the greatest TOP of all time and you make such a caca bum comment!!!
Nine_Ender's post #59 https://www.elitetrader.com/et/posts/5511112/ Said to op: "Your extreme negative bias about markets is really too much" 1.5 months approx. later the Nasdaq printed a TOP. My my my, Nine_Ender had no inkling, no feeling, no internal cautionary red light that something might be amiss. Shocking. And with the benefit of hindsight now today we can clearly see that this was just one Minor Wave before the all time top - alleged all time top. Shocking! How dense can an angry person be? Incredibly dense. How so? “Two things are bad for the heart—running up stairs and running down people.” ― Bernard M. Baruch Nobody ever considered that all the hammering the op, volente_00 has taken, but he persists. The Physical Universe ha no real defense against the persistent person regardless his errors and number of times erring. He shows up for battle. That's what counts. Withsuch persistence the Universe eventually just gives up and proffers up the goodies and whispers, "Welcome" Another thing that Nine_Ender will never understand in his constant angry environment ........ “Millions saw the apple fall, Newton was the only one who asked why?” ― Bernard M. Baruch “The main purpose of the stock market is to make fools of as many men as possible.” ― Bernard M. Baruch “Something that everyone knows isn't worth anything.” ― Bernard Baruch The last one can be modified to: “Something that Nine_Ender knows for sure isn't worth anything.” ― yours truly
QQQ still no trade except for ongoing Core ................... arrived at the golden ratio 61.8% retracement of the latest drop http://tos.mx/fLIKnR7
QQQ will wait pay-shuntly for the shorting opportunity. Will front load the short when I get in. For now while waiting I'm just looking for inspiration to improve my auto system development Nothing to write home about. But Life is good, good, good. No complaints.
https://www.elitetrader.com/et/posts/5511112/ Even on Page 17 by the last post, nobody had a clue that a Top might have been printed - except for the op who did not voice his feeling then and then thread ended. And a reminder: The top call of such a bull run all the way from 2009 to 2022 is a splendid feat. Its where mettle is made. It deserves respect. Its tough tough tough but worth the effort.
Every trader wants the best Price possible. Trade aka Market timing is therefore always IN the trader's heart. Real Life suggests this too: Timing is everything “Time is an illusion, timing is an art.” ― Stefan Emunds
You can believe whatever fiction you want to but the trader in question was shorting at 3400-3500 ( if not lower ) and we remain HIGHER then those levels. Any fool can just keep churning out top calls in a series, getting stopped out numerous times along the way. It doesn't translate into a strong profit and in many cases it loses money. Your bear call in July 2022 is date stamped. You seem rather late to the party and I suspect we'll never see you cover your supposed position ( like many before you ). I could go over what my calls were the last two years but it suffices to say I was the biggest energy bull on here since October 2020 and it paid off in a major way.
I bought the exact bottom on the TSX in March 2020. At that time, there were a ton of bears like yourself posting about how we were going to crash to 900 or 1500 on the SPX in short order. The TSX had a record one day gain the very next day. So yes, timing is interesting. When you believe in absurd targets you'll never cover your short positions. It's pretty much guaranteed you'll lose money on a longer term time period. But you be you don't let common sense get in the way of your greed.