This one might get dicey, I'm net short...Short about 8 different stocks mostly garbage. Long Energy still. I think this pull back could be a couple hundred SPX handles. For those SPX "Karen the Supertrader" followers, I would wait a while. In a couple weeks you will be able to sell 1200 strike puts for 10 bucks 56 days out Careful.
Carl Icahn is short too For example. And some other big traders too. I think that there is higher probability, that the market is going to be flat or go down in next few months, then that the market is going up. So short looks like good trade to me. If it'd go up, then not too much. I believe that for the pullback you are talking about, we need some black swan event or FED interest rate going up to 2 percents or something.
Is this based on gut feel or something else? The last few times the market has had a gap down of some magnitude (and larger than this one), it recovered in less than 4 days and ranging sideways before higher, i.e., no more down side than the initial gap day.
Same type of action today. Also, I notice the same type of activity on ET each time the market is down. Last time being Brexit. Today's open was a great buy. Expecting the gap from Friday to close by end of week.
Many of my shorts worked well, but have since been stopped out for a $0.00 gain. My system is designed to let positions run. Picked up some longs recently NGVC and EURN
That would be the nail in the coffin for the Dems. Not sure what they are going to miss the most about this administration.... the abnormal level of terrorist attacks or the 60's race riots