I trade the NQ but with a decent report from CSCO and an intermediate uptrend (though apparently 'overbought'), I'd be more inclined to just stand aside (not short) if I was going to 100% cash here. Then again, I don't short but just go to mostly cash if I'm concerned about a pullback. That way, I could only be wrong in one direction and it would just be missed opportunity. I'd also be cautious of an oil pullback here and the boost that would cause to equities.
THE TIME RETAIL COMES IN IS THE TIME THE HEDGE FUNDS LEAVE AND SELL THERE POSITIONS TO RETAIL-LEAVING BAGHOLDERS-YOUR ARGUMENT IS FLAWED AND COUNTER INTUITIVE TO WHAT REALLY GOES ON IN THE MARKETS:eek:
When the retail traders are fully invested the big guns are gone. Retail is only beginning to trickle back in - check the numbers. Retail investors have been completely sidelined for many, many months. The volatility has shaken them to the core. There is a big move up to be had, possibly retesting 14,800.
I'm pretty confident we are going to hit 1480-1510 in ES without much problem. The bullish percent index has be rising steadily since january. We have gone from 18% to 51% today. We should have a pullback soon, but I don't believe it will occur before that 1480-1510 range. I will be out of my longs if the bullish% drops 6% or if we reach 60%.
i was waiting for 1430 but wth... nice call man... closed all longs and 80 % short and u might have bought another 10 % today u must be one happy person at least for today
I started scaling into my short position at the pop this morning at the open, will add the rest at close today. I need follow through though, I don't want a one day wonder here.
well i'll be damned lol. We got that break today. HOLD IT. Lots of potential on this position RiceRocket. Great timing. Was a bit late to the party this afternoon, but I'm with ya on this. It's gonna be an ugly ride, but we'll see what happens. That 142 level is now rock solid res (SPY). ~13100 DOW
This trade is not a scalp. It's a trade I will be holding for weeks if not a month. I am short ES and bought QID. I will also be buying some puts on some NQ leaders soon. I will post. But I never marry a position, if something changes, I will stop out. But for now, the market is acting according to the playbook.