Also, I think you and talked about the FXI long to about 40 last week. If we get a bounce in FXI tomorrow, that should be a sweet short. Or FXP if you like the inverse leverage. FXI could make a quick trip to 35.50 with no support.
Another reason for the sell of could be due to a hedge fund that imploded. One of my associates heard some speculation of this going around the pits today.
I will post if a get any additional info on the story.
I closed the day 87% in cash and plan to get in short again tomorrow. I hope we do get at least a little bounce!
BTW – there were 4 weird after hours ticks on the SPY 1min up to 109.88. Odds are we run in the direction of those ticks (up) at least in the early part of the day. Again… just odds, doesn't mean much.
Again… great post! Thanks for sharing your thoughts
The wave 2 that is coming is a smaller wave 2 inside a larger wave 3, which should have 5 smaller waves inside it. I think the larger wave 2 is over, and we just had a smaller wave 1 inside a larger wave 3.
What if the market placed a bottom (V) either today or tomorrow/overnight and then bounces for a couple of days making wave 2. And then the beautiful 3 down the tubes?
Red, I'm in it for the long haul and will stay short. That's why I didn't try to catch the top. I have been losing money for months but I truly believed I would be OK and hopefully now I will be.
Don't worry Red – it's never too late and I'm sure you will get your chance. I think the only thing I have learned from the stock market is to expect the unexpected!
Also, I think you and talked about the FXI long to about 40 last week. If we get a bounce in FXI tomorrow, that should be a sweet short. Or FXP if you like the inverse leverage. FXI could make a quick trip to 35.50 with no support.
g'nite
Please do… (and let's just hope for a small bounce tomorrow to get short on)
Another reason for the sell of could be due to a hedge fund that imploded. One of my associates heard some speculation of this going around the pits today.
I will post if a get any additional info on the story.
Great Post Red!
I closed the day 87% in cash and plan to get in short again tomorrow. I hope we do get at least a little bounce!
BTW – there were 4 weird after hours ticks on the SPY 1min up to 109.88. Odds are we run in the direction of those ticks (up) at least in the early part of the day. Again… just odds, doesn't mean much.
Again… great post! Thanks for sharing your thoughts
Oh and LOVE the panic button – hahaha
The wave 2 that is coming is a smaller wave 2 inside a larger wave 3, which should have 5 smaller waves inside it. I think the larger wave 2 is over, and we just had a smaller wave 1 inside a larger wave 3.
Hey Leo
What if the market placed a bottom (V) either today or tomorrow/overnight and then bounces for a couple of days making wave 2. And then the beautiful 3 down the tubes?
Red, I'm in it for the long haul and will stay short. That's why I didn't try to catch the top. I have been losing money for months but I truly believed I would be OK and hopefully now I will be.
Ain't that the truth girl? Stay short if you're already there. I'll look for a bounce tomorrow to join you.
Don't worry Red – it's never too late and I'm sure you will get your chance. I think the only thing I have learned from the stock market is to expect the unexpected!
Please do… (and let's just hope for a small bounce tomorrow to get short on)