I kinda feel like they will retrace all the way (or almost all the way) to the highs, but I think I’ll be satisfied with “pieces of legs” up or down. If they can push everything up from this point, it will be the ultimate display of raw power.
Your guess is as good as mine…I caught the Egypt tank right on the money, in fact, it was my biggest one-day jackpot EVER (I’ve never piled into deflated puts like that ever before), but this one was a zero sum game for me.
I’ve switched to day-trading rules, for the most part, because everything has gotten way ridiculous out of hand. Yeah, I’m sure there will be swings to catch in the coming days.
Honestly, I don’t really track energy stocks very much…been so busy trying to figure out the general pattern for everything. They seem to rotate pumping/dumping between energy, dow, s&p, nasdaq. Foreign markets are more independent of “POMO effect”. It’s basically all day trading now. There’s no actual “investing” or even “swing trading” now. It’s all about knowing when something catches a bid and burning it until it’s time to sell.
Kinda like the Wild West, I guess…
I’m not sure at this point? I’m looking for a 50% retrace tomorrow and will look to get short at that point. I don’t know if a wave 3 down will follow on Friday, or a simple B wave down, with another C wave up to squeeze out my position? Either way, if the charts top out, I’ll at least get an intraday move down to profit from.
Yeah, Mr. Topstep is always neither here nor there, probably for legal reasons…but I don’t think the HFTs would give up this easily, with all the money that’s coming in. If you look at the Flash Crash…it happened in May, but the last POMO went out in March. There’s tons of money still and they’ll want to exert their control. Two down days in a row is enough to lure billions of dollars of bear money.
Now, I could be wrong and they could take it down now, but I can’t see why. They know pumping works, so if it ain’t broke, why fix it. Tanking this market would introduce an unknown, which is not good for their MO.
Just my thoughts…always keep your finger on the trigger…
What a BS excuse HFTs had for selling. Nothing has changed since last month. Needed to let off some steam. As we all know, the only technical indicator that even matters now is the angle of the upward trend. They’ll save it, in order to display their power/control, or let it go because it’s time. I believe they’ll do the former, for now.
What you thinking? The HFT bot’s are going to rally the market much higher tomorrow, or they want it lower to 1289 spx? I’m not sure how to interpret what position that guy is leaning toward?
Red, great video as always and Karl had this on his blog spot today.
http://www.youtube.com/watch?v=mys2ocTbmAo&feature=player_embedded
I kinda feel like they will retrace all the way (or almost all the way) to the highs, but I think I’ll be satisfied with “pieces of legs” up or down. If they can push everything up from this point, it will be the ultimate display of raw power.
Yeah… it’s just a guessing game in the end. Just use the charts the best you can and go with your gut feeling from there on out.
Your guess is as good as mine…I caught the Egypt tank right on the money, in fact, it was my biggest one-day jackpot EVER (I’ve never piled into deflated puts like that ever before), but this one was a zero sum game for me.
I’ve switched to day-trading rules, for the most part, because everything has gotten way ridiculous out of hand. Yeah, I’m sure there will be swings to catch in the coming days.
Honestly, I don’t really track energy stocks very much…been so busy trying to figure out the general pattern for everything. They seem to rotate pumping/dumping between energy, dow, s&p, nasdaq. Foreign markets are more independent of “POMO effect”. It’s basically all day trading now. There’s no actual “investing” or even “swing trading” now. It’s all about knowing when something catches a bid and burning it until it’s time to sell.
Kinda like the Wild West, I guess…
New Post….
I’m not sure at this point? I’m looking for a 50% retrace tomorrow and will look to get short at that point. I don’t know if a wave 3 down will follow on Friday, or a simple B wave down, with another C wave up to squeeze out my position? Either way, if the charts top out, I’ll at least get an intraday move down to profit from.
Yeah, Mr. Topstep is always neither here nor there, probably for legal reasons…but I don’t think the HFTs would give up this easily, with all the money that’s coming in. If you look at the Flash Crash…it happened in May, but the last POMO went out in March. There’s tons of money still and they’ll want to exert their control. Two down days in a row is enough to lure billions of dollars of bear money.
Now, I could be wrong and they could take it down now, but I can’t see why. They know pumping works, so if it ain’t broke, why fix it. Tanking this market would introduce an unknown, which is not good for their MO.
Just my thoughts…always keep your finger on the trigger…
What a BS excuse HFTs had for selling. Nothing has changed since last month. Needed to let off some steam. As we all know, the only technical indicator that even matters now is the angle of the upward trend. They’ll save it, in order to display their power/control, or let it go because it’s time. I believe they’ll do the former, for now.
What you thinking? The HFT bot’s are going to rally the market much higher tomorrow, or they want it lower to 1289 spx? I’m not sure how to interpret what position that guy is leaning toward?