S&P 500 IndexUpdated Final Flush?
Note the big red candles in prior selloffs of this trend each followed by a deep flush with reversal leaving a long wick. Crashing.
Big ERs Weds FB and Thurs AMZN, AAPL all EOD after the close. Extreme risk in any position now, highly unstable, unpredictable.
Catch this knife at your own risk. Indicators become worthless in a panic. Oversold >> More Oversold. Capitulation phase.
If you imagine that looking at these red ovals it had been simple to just short and ride top to bottom, look again.
Every red candle has a high wick and shorts got shaken out on those, then it rolled over again.
There were green rally days that looked like reversals, but failed, stopped out both shorts and longs.
So damned tricky to trade these downdrafts, the fluctuation is terrific. Short-killing rallies followed by bull trap selloffs.
Look, on Monday the damned thing started with a selloff, then bulled up 2%.
Bear markets are a real Bear. Hate it!
Big ERs Weds FB and Thurs AMZN, AAPL all EOD after the close. Extreme risk in any position now, highly unstable, unpredictable.
Catch this knife at your own risk. Indicators become worthless in a panic. Oversold >> More Oversold. Capitulation phase.
If you imagine that looking at these red ovals it had been simple to just short and ride top to bottom, look again.
Every red candle has a high wick and shorts got shaken out on those, then it rolled over again.
There were green rally days that looked like reversals, but failed, stopped out both shorts and longs.
So damned tricky to trade these downdrafts, the fluctuation is terrific. Short-killing rallies followed by bull trap selloffs.
Look, on Monday the damned thing started with a selloff, then bulled up 2%.
Bear markets are a real Bear. Hate it!
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Watching futures fade... here we go againNote
Dead catNote
Decent bounce, trades at the futurz o/n highNote
Taking 2 qqq 322p Friday's weekliesNote
Closed shorts might get another bounce to lower high?Trade active
Opened shortz in qqq made a bear flagNote
Closed all but the FB puts. Big bank day. JN Apple is now off 20 bucks this month, they report Thurs EOD, and Amazon. If they beat will boost the whole market.Could be near pivot, could be a bull trap here.
FOMC next week could really break it IMO.
Trade active
Nice gap! Closed QQQ calls in the open + 60%. Defrayed the dismal FB losses on metapop, lol. Traded puts for fade the gap; NB: RTY closed the gap, NQ remains above and might not close, at least not right away. Be carefull!More stupid ERS tonite!!
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Seems the gap may not fill until eod or on another day or not at all. stay tuned. No positions now except a strangle on AAPL.Note
Ppl asking is it bullish or not? It's a WHIPSAW market, this will pump up and dump down for days or weeks. Very likely another big dump coming next week for finishing move. Keep positions small and play defensively.
Most of these gaps will fill by EOD, some the next day.
ER plays on AAPL and AMZN tonight. After the FB debacle I can't recommend a directional trade, buy straddles or strangles. Options on AAPL are affordable, I took a $7.50 spread strangle for $5.55 net debit.
If the stock moves ten bucks either way you win!
Risk in these: if it doesn't move far enough, theta will erode the position.
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Only ER play that won was AMZN (no position). AAPL options deflated overnight when the news came out they all went to $1, give or take, premiums just vaporized, although puts opened itm they were just a buck. Terrible play, so sorry if you took this and lost! Played fade the gap to recover some capital.
Bearish again, eh? Fed probly tank the damned thing next week IMO. Licking my wounds, no position.
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It came down filled this chart and bounced nicely on 5/02. Made wee bank on calls there, but 5/03 scalped a few pips early am trade, then gave half of it back on trying spy calls which fade and weaken. It is just NOT bullish imo. Still ahead on this move but sitting out atm.Fed decision Weds, always chancy. Might have the rate hike priced in already; might sell more anyway.
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Fli[pped a single call on SPY at 14:01 lol; madness!Note
Insane. NQ +150 > 0Note
Not trading jsut watching do not recommend touching this!Note
Flipped a single put. Fluctuates wildly. Watch in amazement. Gave two vertical spikes both sold off. +/- 150 pips in minutes.Place NO orders at market, the spreads are so wide you will be holding the bag!
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Price on SPY, QQQ moves over a dollar a second. Incredible, options spreads are 50c+. You cannot possibly hope to come ahead in this environment.Waiting for tomorrow, quit while still ahead on the day!
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NQ flippped -20 to +20 in under one second just now. WOW.Note
b/c JPowell said 75bp hike not on the table.
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