You'd have thought the markets would have dropped heaps! This market is either a big short covering rally or we're all f--ked.
Ndibari but you ARE wrong today. It seems YUM Brands big miss didn't have any effect on this illogical market. Logic tells me there is a lot of short covering. I would just like to understand how this market keeps going up on bad news?!!
wolfie-good call. Two days green setting up for red tomorrow. FB may hit $91 but staying away. Should've bought at $85.72 on Tuesday but wasn't a believer. Oh well. Patience is key. People are screaming market reversal. There have only been two market reversals since the creation of the stock market. With the technical damage that was done Aug 24th, my bet is this is a HUGE headfake. I still think we will be able to buy FB at a MINIMUM of $80 when the S&P drops to 1867 then 1820. Calls for 1730 I'm not so sure about but would welcome it. In the meantime, I daytrade TVIX. Works inversely against a red market. Good luck!
No events anytime soon? You giving the all-clear sign? Better think twice about that. Nothing changed with Yellen's speech. Just words and a temporary sedative. We have Oct 1st coming up-could be a bad event for markets. Then u have debt ceiling. Event. China could devalue yuan once again. Germany's economy is getting fragile and keep an eye on Japan. Commodities. The drop is over just because Janet Yellen spoke? I think u need to step back and adjust your glasses.
I see why you believed markets would rally and rally hard. CNBC says it's because of Yellen giving more clarity. I think bulls--t. You know what? Cramer (whom I loathe) says we're in a Bear market, a classic one, and you called this a classic Bear Market rally. What Id like to understand, as I've never experienced a Bear market, what makes it one? What are the signs you are seeing to tell you that? If love a quick explanation so I can be a better trAder. Also you think we'll have an opportunity to buy TVIX in the low $9s today? And would you be a buyer? From your remarks ("a crash is definitely coming" I assume you would be?
Great call. Wish I had read this before AHs close yesterday. So I could short TVIX and buy XIV. But , seriously, how did you know 10 hours ago the markets would be up big? However you trade, you must be very good to have figured that out before anyone else I have seen posting on this board.
Why tomorrow? Markets all going up for the wrong reasons. Even Cramer said keep one foot outside the door. He never says stuff like this. Something bad coming I can feel it. Really bad.
electrowing-you believe that b.s? Hope not. Markets WILL retest Aug 24 lows minimum and Oct 2014 lows (which is necessary) to continue up in Q4. Read the charts genius. A lot of technical damage was done Aug 24.
If TVIX drops into the $9 range, could be a great entry point. The best entry point was $7.68 last Thurs. So $9s could be good if u believe retest coming
But volatility is and will continue to increase. Every green day is an opportunity to buy low and sell high.
Read this: http://www.cnbc.com/2015/09/17/man-who-foresaw-august-drop-says-markets-are-uniquely-vulnerable.html I hope we get a few weeks of low volatility. But this guy called right once 3 weeks before Aug 24th. Now he's saying it again and I think in 3 weeks we'll see something far worse than Aug 24th. The retest of Oct 2014 lows on the S&P (1820) and probably a huge overshoot lower due to HFTs and high volatility. So the BIG question: do you start to go long in TVIX today in anticipation of that? I'm kicking myself for not reacting when TVIX hit 7.68 yesterday. But that's okay. It's never a perfect trading world.
$10.57 a good entry point to go short? With rate hike delayed, this selloff feels like a trap, with green later today. Thoughts?
Actually 9 including yesterday. If stock drops back to $92.50 or lower, good entry point. But the bigger picture is the scarier development. Just because we have no interest rate hike doesn't mean the all-clear signal has been given. I am in the camp that still believes we test Oct 2014 lows. That's 1820 on the S&P folks. And with the volatility so high, expect an overshoot into upper or mid 1700s. Study the technicals. The possibility -- some would say necessity so that markets truly stabilize -- is very real.
in_out think market drops monday? even with China news and possible stimulus announcement?
Despite the charts, is FB still too Risky to buy? We have Fed meeting, Friday, weekly options, worries still linger over China and Japan... There is a very strong belief that this triangle chart formation we are in right now (the Dow, S&P and Nasdaq) - and when the triangle breaks the direction it takes is quite volatile and strong - will lead to a S&P retest of 1867 with a bigger retest of the Oct 2014 low of 1820. Many are saying - and the chorus has grown louder in the last few days - that because of the volatility in the market, this triangle chart formation, an overshoot much lower is possible with many saying they actually have 1740-1750 in their projections as an ultimate low. Frankly if the S&P breaks below 1800, I am totally in cash and I will be buying FB and others with both hands. Right now looking at TVIX an ETN that trades inversely with the VIX and the S&P. But it is a very dangerous product that has hurt a lot of people. It is something that I day trade not hold long. Anyway would love your comments and opinions on what I just wrote as I thought your post was very insightful.