I've been looking at four stocks: AMZN, NFLX, FB, and AAPL.
They all bounced together.
All but AMZN have faltered since then.
AMZN has a potential to keep creeping up the rest of the day . . . to maybe $528 and change.
Good luck to all.
(I'm back to all cash after making a good profit on AMZN calls on the first leg up of the bounce.)
Good luck to all.
The final 40 minutes should provide some drama.
As of now, nothing interesting seems to be happening.
Like I am.
It's so silly to make bets based on what you think today's employment numbers may be:
1. These numbers are meaningless. The government can fudge them any way they like.
2. We don't know how the market will react to the numbers. May explode to the upside (like up 240 in the DOW), may plunge (like down 160 in the DOW, right at the open), or remain flat (like plus/minus less than 33.33 in the DOW).
So, your prediction for the numbers themselves can have 1/2 chance of being correct. Then your prediction for how the market will react to the numbers can have 1/2 chance of being correct. So, your resultant chance is 1/4 being right.
If this is not bad enough, as we all know the whole market is rigged (the government is part of this racket), we have no idea how the manipulators will move the market today.
One thing is about 90% certain:
If you're holding a losing position thinking today's numbers will help you, your position will get worse no matter how good/bad the numbers are.
You know why, right?
You seem to have a plan and be sticking with it, and that's good. I'm talking about the majority of shorts here who started shorting in 300's and 400's who just keep "hoping" for miracles to happen and save them. They are jellyfish in my book.
If you short AMZN when she is over $540 again and if she stays over $540 for more than an hour and you don't cover, then you will just end up becoming another jellyfish that will start just drifting with the current in the market to be taken wherever it will take you.
Don't end up like all other jellyfish here.
screamdoctor: "The DOW does the DEATH CROSS on Friday August 7th instead."
What will happen if we don't get a Death Cross for the DOW tomorrow? Should b=we wait until next Monday? Shouldn't there be some kind of deadline for this sort of prediction?
The gap is 42.47 (with the 50-DSMA above the 200-DSMA).
I know what shorts will say: "It will arrive tomorrow or next week."
They keep changing their goals. A definitive sign of the weak-minded. Or jellyfish, if you will.
Almost all of shorts here are hoping the imminent Death Cross for the DOW will save them. They're fixated on it. Poor souls.
A few years ago, they were excited about the Hindenburg Effect or whatever and got burned badly.
How much dumber can people get, making trading decisions based on superstitions?
A good entry point is when you actually want to short the shares of AMZN or buy puts. Wait until you feel this way.
Learn from shorts here. They short when they feel comfortable to short and they pay the price always. Don't act like them.
What will happen if we don't get a Death Cross for the DOW at the close of today?
Are we going to have a relief rally tomorrow?