yeap - I got stopped out earlier but tried again a second time @ 1032.25.
Just want to be prepared for the dip buyer crazyness ... if I get stopped out YAY for me as my long term puts will take care of the rest. Those took quite a bit swing in the past few days. Nice to see something working at least.
Wish I had kept my puts yesterday (yeah not beating myself up). Most of them are up 60+% from yesterday exit price.
We will get them again - its only 20 points with another 400 to come.
everyone was looking for 1040 break. we hope this si not a repeat of break of H&S neckline to see another 100 spx point up. we will never know but now many technical confirmation are in place.
do you remember from a few weeks ago ... I think mid august I was talking about the importance of 1014 ... I am looking for this to get to 1014-1018 first.
This will give us a chance to go long, and add LOTS of shorts once we get back to 1040. And I mean lots of shorts there .....
oh yeah ... days like this are really painful to look at for most bears. You have a big drop overnight, another drop in the first 15-30 minutes, then just a super narrow range for remainder of the day.
Unless you were short from yesterday, nothing to be had here - just beautiful to look at. Considering I have been waiting for the drop for a WHILE and only being invested <25% short at this point. Its painful.
Well - I made some money today, thats all that matters, just wish I'd be using more buying power - and wish I had been a bit more patient yesterday.
I was net short since yesterday, but still only with very little of my capital. About 25% like yourself. Been screwed TOO many times during this rally. I will continue to add short VERY carefully....
just took a decent size long position here @ ES 1034 with a very tight stop. I will move stop to break even once we get a bit higher.
ReplyDeleteLets see how it plays out. The perfect plan of course would be using this as insurance to continue to scale into shorts if we go higher.
where's the next support after 1040?
ReplyDeleteI'm in SSO as well, let's hope it works out for us. Hopefully we'll get a bounce and not just keep grinding lower.
ReplyDeleteyeap - I got stopped out earlier but tried again a second time @ 1032.25.
ReplyDeleteJust want to be prepared for the dip buyer crazyness ... if I get stopped out YAY for me as my long term puts will take care of the rest. Those took quite a bit swing in the past few days. Nice to see something working at least.
Wish I had kept my puts yesterday (yeah not beating myself up). Most of them are up 60+% from yesterday exit price.
We will get them again - its only 20 points with another 400 to come.
Chris that is the spirit -- 400 to go. I like it. you expect about 50% retrace here? 1044? 1050?
ReplyDeletewell lets see. It should at least get back 5 points. After that we have to see if we continue to sell off hard or stay flat.
ReplyDeleteeveryone was looking for 1040 break. we hope this si not a repeat of break of H&S neckline to see another 100 spx point up. we will never know but now many technical confirmation are in place.
ReplyDeleteLooks like a close at LOD. am flat now. 1020 in the cards Chris her?
ReplyDeletedo you remember from a few weeks ago ... I think mid august I was talking about the importance of 1014 ... I am looking for this to get to 1014-1018 first.
ReplyDeleteThis will give us a chance to go long, and add LOTS of shorts once we get back to 1040. And I mean lots of shorts there .....
Haven't seen the market take a dump at EOD for a long time now...
ReplyDeleteoh yeah ... days like this are really painful to look at for most bears. You have a big drop overnight, another drop in the first 15-30 minutes, then just a super narrow range for remainder of the day.
ReplyDeleteUnless you were short from yesterday, nothing to be had here - just beautiful to look at. Considering I have been waiting for the drop for a WHILE and only being invested <25% short at this point. Its painful.
Well - I made some money today, thats all that matters, just wish I'd be using more buying power - and wish I had been a bit more patient yesterday.
so how did everyone make out today? I hope you all had great gains and were able to lock in some profits.
ReplyDeleteI was net short since yesterday, but still only with very little of my capital. About 25% like yourself. Been screwed TOO many times during this rally. I will continue to add short VERY carefully....
ReplyDeleteI hear that 1020 is the next stop. maybe tomorrow am and then get ready to go long for a short bounce.
ReplyDeleteyeah I agree ... lets see what we do here tomorrow before the open with jobs data.
ReplyDeleteI held on. But I'm concerned about the continued drop at EOD. I'm hoping we get a bit of a pop up tomorrow.
ReplyDelete