I'm long the stockmarket, I think the bottom was in last friday and this is a good opportunity to buy on a pullback.
flat. I want to go short but nothing shows up. I think" the bottom was last Friday but i'll wait and see.
I agree. Momentum was down since Tuesday so I have been using mostly calls and moderate longs from around 930 down, but overnight the S&P had a serious downside test (880 ES) and has now rallied back *hard*. We now have a defined set of lows at 880 and yesterday's cash sessions lows. Gap up today, then test to the downside trying to fill the gap, should be a good chance to buy with limited risk. Once the opening range has formed in the first 30 mins or so, a break above that range would be a good buy signal, with a close intraday stop below the opening range and a further stop 10 pts below yesterday's cash session lows. I will keep the calls whatever happens. IMO almost no one is heavily long stocks here. People will become buyers higher up once they sense fear has passed, then puke out on every dip. Doing the opposite (sell breakouts above prior highs, buy 40-60% pullbacks from now on) should yield good profits. First target is 1050-1075. If we break 10+ points below yesterday's lows, then that would signal a potential further move back to Friday's lows - so a good place for a hard stop.
I stopped trading stocks a while ago (long or short). I only trade options; much easier to manage risk.
Short at the moment....trying to determine to add some long in case of some kind of a rally. Overall prediction for today?
Bought some ENER at the close, sold in the first few minutes. Looking to buy back on a dip. Also, Erin Burnett (CNBC) just used the phrase "backdoor stimulus." Oh yes.
how could almost no one belong stock here??? the same # is long stock now as when it was dow 14000. If you sell someone else has to buy