VIX not responding. No fear in market. these stupid bears of fear have shorted iteration and right
Second, volume was pathetic
No way goingong here. Careful short
We will miss you. Was nice knowing you.
BTW I am expecting it this week but not tomm.
I am sorry that you are still hungry. Beware this restaurant is capable of serving bull #$%$ sausage and scrambled balls. Though I dont believe in premarket action a lot.
well, that sounds good but overbought and oversold are relative terms. In a bigger time frame market is overbought, but in short term it was oversold yesterday. If u carefully look at spx/spy chart the rate /angle of ascent has slowed significantly and seems like we are on upper end of starling curve where where is change in length does not generate same force. If a muscle is stretched at upper end of starling curve it undergoes fatigue, wear and tear and ultimately gives up.
Question is when ? No one knows. I agree being a long term bear and at this point more a long term bull can become extremely painful if this time selloff is for real. As a short I know that market can go to 1900-1920 but at this point downward potential is very high. I am working on studying graphs of s&p companies with PE greater than 50 ( think there are 140) and most of them appear ripe esp when earning season is gone.
All the visible bubble seems to be slightly deflated but after I looked at this list I was shocked. Look at AVB for example, or even WM and tell me if they dont look juicy.
In summary its risky being long both long and short position but short position looks more lucrative. And these manmade tops are made by lack of buyers 1900. I wont buy after knowing GDP grew by 0.1 % and blame it all on snow.
holding my shorts RAX @ 37.4, CSCO 24.3, AVB @ 140.24 and June 12 Vix calls over weekend. In my count Wave 1 of downtrend was 1902 to 1862 around 40 points. 1862 to 1878 was/ is wave 2 that looks complete ( 3 wave structure) from chart but may move higher as wave 2 are very notorious hate them). If my count is correct and 3rd wave of the first wave down should take us to low 1800s next week. I know thats too bold prediction against the very strong immortal bulls but there is no harm dreaming.
Many times since Jan in a situation like this market has bounced back hard. Every time we asked / wished " is it different this time" . The answer was no always . Today's price action has invalidated the count to make new highs. Looks that the final wave 5 of ending diagonal ended short oh 1-3 trend line but was not truncated as me made new high with it.
Now the new count looks at start of a new trend down. Will see how 50dma and 1850 behaves. This might be real but cautiously bearish for few days . No long positions for some time.
Ps: pud please ignore the TA part of it. I admit I am a TA tard.
U are right but the only problem is one day bears will be right. Next couple of days critical to see if it part of ending diagonal or it has ended and downtrend has started. Past experience says bulls will pull through again but how long? This is a market of wolves. Not leaving much money in market overnight but cautiously bearish
None of us gave crystal ball. As I have said before the big picture is that we are in an ending diagonal and that explains the decrease swings and Abn market behavior . A trend change will happen very soon within days and today's action might gaveen thAt . The only thing that does not go with trend change is that the final wave up is still 15-20 pts below trend channel and most of time it touches it before down .
So I am thinking of worst scenario as I don't want to be holding shorts for long if a strong up wave starts.
Hate to say this but I agree with troll. T A says we open green tomm go up then down to 1880 and then we will retest highs again before a trend change.
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I like this post. Intelligent, non abrasive, and informative. Are u really the same trollalert?
It's not a brainfart or sixth sense. It's from
Tech analysis that says that we are in ending diagonal that is about to end soon and we will have major downtrend soon worse than Jan.. The PT is derived from trend lines . There is upside left but as someone said we don't have to wait for final penny .
For all the badmiuthers: good luck