It took a lot of us by surprise I believe. But now, they squeezed out a lot of bears… so we should (maybe, hopefully, LOL) be free to fall all next week.
It's hard to predict, as it's triple witching next week, which could move the market violently up or down. Everything I look at still points to next week down big. We'll see I guess?
Days like today are why I switched from options to 3x ETFs. It hurt, but not nearly so bad as if I had options that expire next Friday. I hope it works out well for the bears, myself included.
Bought the 990 June put e mini s&p for 3.00 traded up to 10.00 now back down to 1.45 why sell the 10 when “the crash” was just dead ahead. been looking at Jaywiz and he appears to vaguely be correct but wierd system to say the least.
Retail sales and consumer confidence out tomorrow. With all that oil floating around who wants to go shopping and feel consumer confidence. These two numbers, I think will be bad, but numbers releases really don't cause crashes. these number will come out bad and everyone on this site will be yelling “crash” then the s&p will bottom, turn around and rally breaking the middle BB now at about 1085 and probably visit the top BB next week. Crash longer term. Nenner says Nasdaq “tops” thurs June 17. Some are calling for a down friday next week.
(I think) I'm going to sell my put when the s&p is down 15 pts or so and buy a call or two expecting 1120 next week early
Bens, I am not sure when you have got these puts, if it not well out-of-money you can just hang in there or rollover to July or Aug puts – Though it is pretty rough the bearish trend is still alive. Broad picture of the world didn't change much – we still have european crisis, war threats, volatility is high n techincals are completely broken on many charts. The first 10% of correction was pretty quick, but the later 10 or 20 or 30 or %%… correction is going to take some good time and sharp snapbacks… — patience pays…
Congrats for shorting right on the top. In your case I would take my profit now and reestablish new short positions later. We may see new highs very soon.
Timing a big sell off is hard Monica, and since we don't have the luxury of time on our side, we should trade in an out more in the future. For now, we are both stuck in a short position that's underwater now.
But, I think we will see dry land next week, and probably some high mountains too. I'm hanging in there, as I firmly believe we will fall hard next week.
What we have to realize is profitable trading is NOT catching a crash but a day to day grind that is conisistant. I'm going to do this with a 5 min renko chart someday soon and I'll let you all know what my performance is.
That's exactly what they want Ben… for all the people calling a crash to be wrong. Now everyone is expecting 1100 or better to form the right shoulder.
Guess what? They want them to be wrong too… Tomorrow will most likely be a pause day, but next week will only have Bulls in the market, as the bears are now extinct.
I really don't think they will allow the bulls to escape either… but we will see next week I guess.
Thanks Dreadwin…
It took a lot of us by surprise I believe. But now, they squeezed out a lot of bears… so we should (maybe, hopefully, LOL) be free to fall all next week.
It's hard to predict, as it's triple witching next week, which could move the market violently up or down. Everything I look at still points to next week down big. We'll see I guess?
Days like today are why I switched from options to 3x ETFs. It hurt, but not nearly so bad as if I had options that expire next Friday. I hope it works out well for the bears, myself included.
Bought the 990 June put e mini s&p for 3.00
traded up to 10.00 now back down to 1.45
why sell the 10 when “the crash” was just dead ahead.
been looking at Jaywiz and he appears to vaguely be correct but wierd system to say the least.
Retail sales and consumer confidence out tomorrow. With all that oil floating around who wants to go shopping and feel consumer confidence.
These two numbers, I think will be bad, but numbers releases really don't cause crashes. these number will come out bad and everyone on this site will be yelling “crash” then the s&p will bottom, turn around and rally breaking the middle BB now at about 1085 and probably visit the top BB next week.
Crash longer term. Nenner says Nasdaq “tops” thurs June 17.
Some are calling for a down friday next week.
(I think)
I'm going to sell my put when the s&p is down 15 pts or so and buy a call or two expecting 1120 next week early
Bens,
I am not sure when you have got these puts, if it not well out-of-money you can just hang in there or rollover to July or Aug puts – Though it is pretty rough the bearish trend is still alive. Broad picture of the world didn't change much – we still have european crisis, war threats, volatility is high n techincals are completely broken on many charts. The first 10% of correction was pretty quick, but the later 10 or 20 or 30 or %%… correction is going to take some good time and sharp snapbacks… — patience pays…
Congrats for shorting right on the top. In your case I would take my profit now and reestablish new short positions later. We may see new highs very soon.
Timing a big sell off is hard Monica, and since we don't have the luxury of time on our side, we should trade in an out more in the future. For now, we are both stuck in a short position that's underwater now.
But, I think we will see dry land next week, and probably some high mountains too. I'm hanging in there, as I firmly believe we will fall hard next week.
What we have to realize is profitable trading is NOT catching a crash but a day to day grind that is conisistant. I'm going to do this with a 5 min renko chart someday soon and I'll let you all know what my performance is.
I guess we should all stop listening to other people. It's not doing us much good. Unfortunately, there are no answers.
Nice charts…
Thanks San.
That's exactly what they want Ben… for all the people calling a crash to be wrong. Now everyone is expecting 1100 or better to form the right shoulder.
Guess what? They want them to be wrong too… Tomorrow will most likely be a pause day, but next week will only have Bulls in the market, as the bears are now extinct.
I really don't think they will allow the bulls to escape either… but we will see next week I guess.