%% QQQ went peak to valley about 15%+ above 200dma today/close most likely?? With 15 minutes 'till close . DAL sector still going down last time i checked: LUV may go up. NOT a prediction.....................................................................
I was going by CAPE. Too much free money, not enough people focusing on delivering actual results in earnings.
I just trade smaller position sizing and a larger chart, since bigger moves simply means larger charts are active and you can actually trade them intra-day since they will generate multiple signals. Of course this means wider stop / profit target (hence the smaller sizing). The overall patterns / way the market is moving hasn't changed at least from my point of view and how I trade it. For example we now have weaker momentum on larger charts, where as before it was really strong. I've just increased the short trades I take by a lot, but I am still trading both sides.
OK Mr Turtle, if I follow QQQ, it is still bullish (>200dma), if I follow DAL, LUV, it is still bearish. You got both sides covered. I can rest easy.
%% Exactly; but QQQ is short term bearish, but looks long + strong for long term. And LUV is run much better than DAL,AAR sector + the charts prove it.[TEMP is rising !! I saw temp rising/forcast in the bank today- but that happens every spring-LOL]...............................................................................................Love it.
Yesterday I liquidated my weekly put fly's in single-names. Total Trades: 17 Wins: 12 Losses: 5 P/L Open: $1,344.22 I'm surprised the single-names haven't moved "down" as much as the index's. Yes, the magnitude has exploded in all these underlyings, but even that didn't effect my flys negatively, I'm assuming because premium keeps spiking up and going no where but up, especially puts. If I would've held these positions into today I would of been down probably -2.5k How have you traded? Anyone trade today?
Is anyone trading this market? I've been on the sidelines for a week now and no intentions of getting into anything just yet. $VIX hit an all-time high today of 83 smhh