I agree. 875 breaks in this move that will set the panic. 866-869 is a good target to cover. some are calling for 820 by tomorrow. But first we get 875 as resistance on a bounce from 866
volume is picking up already. what is the best surprise market can give. Bulls are left holding a bag where bears were too scared to get in. always looking for a rally to get short. 820 is pausible secnario, if the panic stes in. 930-to 875 ia already here in few days.
exactly. MANY are missing this drop - I missed most of it too. I did load up VERY heavy here before the drop on the short side. But still not positioned the way I wanted to be.
820 will be hit ... but we have 2 important stops first. 856 (where I will cover quite a bit) and 845 (where I will cover a bit more).
But do not think we will get there from this drop here. Will see a rally before that occurs.
But I could be wrong - and make more money - so not complaining.
"ok market setting up here. IF we do break, get ready for 10 pts in 30-40 minutes. Should be fast."
10 pts thus far in 34 minutes ... haha. Sorry I am gloating a little bit here. Timed it great and getting rewarded for having some balls (sorry for the choice of words)
hah yeah it kind of is exciting here. Adding more shorts now is a bit too late unless they are IT with a min target of 3 weeks. Short term shorts will be down.
yeap. I got the 10 points I was looking for in the time frame it should have happened. Now it "should" remain a bit sideways for the next 2 hours. From there I will know if we sell off further today.
I just lightened up a bit again but NOT trading the long side and not adding any hedges.
ok market setting up here. IF we do break, get ready for 10 pts in 30-40 minutes. Should be fast.
ReplyDeleteI got stopped out of spx calls for a ten cents loss. going for SRS calls it is finally moving.
ReplyDeleteok important point now. I do not think we will rally much even at this level. 869 is my current target for this move down.
ReplyDeleteI agree. 875 breaks in this move that will set the panic. 866-869 is a good target to cover. some are calling for 820 by tomorrow. But first we get 875 as resistance on a bounce from 866
ReplyDelete820 by tomorrow? lol - will never happen.
ReplyDeletevolume is picking up already. what is the best surprise market can give. Bulls are left holding a bag where bears were too scared to get in. always looking for a rally to get short. 820 is pausible secnario, if the panic stes in. 930-to 875 ia already here in few days.
ReplyDeleteexactly. MANY are missing this drop - I missed most of it too. I did load up VERY heavy here before the drop on the short side. But still not positioned the way I wanted to be.
ReplyDelete820 will be hit ... but we have 2 important stops first. 856 (where I will cover quite a bit) and 845 (where I will cover a bit more).
But do not think we will get there from this drop here. Will see a rally before that occurs.
But I could be wrong - and make more money - so not complaining.
"ok market setting up here. IF we do break, get ready for 10 pts in 30-40 minutes. Should be fast."
ReplyDelete10 pts thus far in 34 minutes ... haha. Sorry I am gloating a little bit here. Timed it great and getting rewarded for having some balls (sorry for the choice of words)
oh boy, this is exciting...when to short more?
ReplyDeletehah yeah it kind of is exciting here. Adding more shorts now is a bit too late unless they are IT with a min target of 3 weeks. Short term shorts will be down.
ReplyDeleteSo you are really confident of the 875 bounce?
ReplyDeleteyeap. I got the 10 points I was looking for in the time frame it should have happened. Now it "should" remain a bit sideways for the next 2 hours. From there I will know if we sell off further today.
ReplyDeleteI just lightened up a bit again but NOT trading the long side and not adding any hedges.
I agree. around 1 Pm to 2 Pm good oportunity to short. I just sold spx put with descent profit. will get in around 1 Pm again.
ReplyDeletehere comes another ten points. I am back in.
ReplyDeleteI think we may rally from 866. a good one to 875 but the final stop is 821
ReplyDeletebe careful on the short side here. We do not like playing "catch that falling knife".
ReplyDeleteit has started creating positive divergence on 5 min chart. it should take those ten points to create a bounce.
ReplyDelete869 on SPX will hold on first try. Only 3 pts away. It should not drop another 10 pts from here. Again just my view =)
ReplyDeletecovered more here. When I say cover its only for shorter term positions (like additions I made to SRS/SKF) and options.
ReplyDeleteCore shorts remain 100% as they were.
what is your take for the bounce chris? 875-880? or it could be all the way to 890-895?
ReplyDeleteI will post update on the current channel soon. Will be going long at 869.
ReplyDeletewatch out. positive divg. taking good sahpe on momemtum. it does take at least three zig-zag before it yields any results.
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