MFI oversold so I'm flipping all my puts on open, but more downside possible because RSI is not oversold yet. RTY already hit oversold, so it actually tried to gap up until the unemployment numbers came out. Speaking of which, that explains the tank yesterday because there are always people in the know. When the numbers were good, the market always rallied the day before. With the number of people involved in calculating unemployment there are bound to be leaks all over the place. Some gov't employees getting rich, that's for sure.
Might buy some calls EOD if RSI hits oversold, we'll see. If not, staying cash overnight.
Might buy some calls EOD if RSI hits oversold, we'll see. If not, staying cash overnight.
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Flipped my puts, done until the afternoon.
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I bet a huge whipsaw day today. Moving up because NQ MFI went oversold but RSI didn't so definitely staying out until EOD.
I'm thinking EWW or EWZ calls, the dollar spike appears to be over.
I'm thinking EWW or EWZ calls, the dollar spike appears to be over.
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Whipsaw! lol. Damn, I've been nailing all week.... you'd think I'd be up by more than $5k. Too bad I suck at daytrading.
In any case, I'm all cash, waiting for EOD to make a decision. Right now I'm thinking gap up then tank for tomorrow but we'll see. that may definitely change.
In any case, I'm all cash, waiting for EOD to make a decision. Right now I'm thinking gap up then tank for tomorrow but we'll see. that may definitely change.
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COVID stocks like W, ZM, and PTON all in the red
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I promised you guys whipsaw, boy did I deliver, lol.
Didn;t trade today, decided to do other stuff.
Might do a couple of contracts of ZM puts for K&Gs.
Didn;t trade today, decided to do other stuff.
Might do a couple of contracts of ZM puts for K&Gs.
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Bought a couple of ZM puts, chart pattern was just too bearish to ignore
In any case, I have no idea which way the market will go tomorrow. Indicators are in the middle.
All I know is I wasn't gonna get bullish until NQ RSI hit oversold, and it didn't. Today could be the bottom though with a headfake afternoon. We'll find out tomorrow.
In any case, I have no idea which way the market will go tomorrow. Indicators are in the middle.
All I know is I wasn't gonna get bullish until NQ RSI hit oversold, and it didn't. Today could be the bottom though with a headfake afternoon. We'll find out tomorrow.
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Best guess for tomorrow is another pump and dump and reversal just like the last 3 Fridays.
Gap up, drop in the morning, up in the afternoon. Probably not gonna hold anything over the weekend. Either we get vaccine "news" or China retaliates for TikTok. Could wind up with a huge gap in either direction Monday.
Gap up, drop in the morning, up in the afternoon. Probably not gonna hold anything over the weekend. Either we get vaccine "news" or China retaliates for TikTok. Could wind up with a huge gap in either direction Monday.
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MFI almost overbought
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MFI overbought, either we get another afternoon drop or we drop Monday