We sure could and for a while as well. But at some point we will go down. I would recommend to those of you who are good at trading (and I think you all are) to hold onto core short positions and trade the rest. I can't trade so I will sit here and wait.
Speaking of volatility, that's a really really ugly candle on the $VIX today. The Slow stoch says it needs to go up, but the MACD says we're not done going down. We could paint sideways.
hindsight is 20/20. I shorted RIMM yesterday and covered it at the low today but still have all my other positions. You have to decide whether you think this thing is really going to cave in long term or whether you want to trade in and out. No point in holding these things if on the first big down day, you bail out. I would rebuy EDZ but that is just me! That one turned out well but there COULD be a time where we just continue to drop. While the bulls talk about this ramp job as being a good thing, I think all this volatility can't be good for the bulls.
You know I got out of EDZ, thinking of placing order to get back in at 5.70. I did not sell any TZA today. I thought about taking some off the table and reload. Would have been the smart move.
Alternatively, we're consolidating / painting a bull flag. JNK was strongly up today.
What was the news item that has been blamed for the early selling?
It's pretty rare that Carl holds overnight, and I'm surprised that he took a loss.
We sure could and for a while as well. But at some point we will go down. I would recommend to those of you who are good at trading (and I think you all are) to hold onto core short positions and trade the rest. I can't trade so I will sit here and wait.
Carl at days end:
Estimated /ES range: 1086-1100 (14 point range)
Actual /ES range: 1084.50-1102.75 (18.25 point range)
Today was a bit wilder (lower low, higher high & larger range) than Carl expected.
Carl's trading:
Carl went long yesterday one unit /ES at 1095.50 & one unit at 1101.50
Carl sold /ES today for 1096 & 1097.50 (loss of 3.5)
Grade D (hurt by news flow, again, but aren't we all)
Speaking of volatility, that's a really really ugly candle on the $VIX today. The Slow stoch says it needs to go up, but the MACD says we're not done going down. We could paint sideways.
hindsight is 20/20. I shorted RIMM yesterday and covered it at the low today but still have all my other positions. You have to decide whether you think this thing is really going to cave in long term or whether you want to trade in and out. No point in holding these things if on the first big down day, you bail out. I would rebuy EDZ but that is just me! That one turned out well but there COULD be a time where we just continue to drop. While the bulls talk about this ramp job as being a good thing, I think all this volatility can't be good for the bulls.
You know I got out of EDZ, thinking of placing order to get back in at 5.70. I did not sell any TZA today. I thought about taking some off the table and reload. Would have been the smart move.
Good luck Red! Still think we are headed lower. The PPT can fight it all they want to 🙂
Yeah Earl!
I dipped in the waters here with a 109/105 put spread. Let's see what happens tomorrow?