Give me one more day to take profit on my my tech trades xD
vvrr
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loaded up somemore - let's do this Pig!
ruchir2030
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hey man. any updates here
UnknownUnicorn5511258
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@ruchir97, need to see the nasdaq capitulate below that near-term lower level. Otherwise, it's still ambiguous whether or not we go up further to test the highs for a double top.
IMO, this is the last confirmation I need to go all-out short for the next month. Would wait until clear decision is made this week.
merabtene
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Haha, Aren't you exaggerating a bit ?
UnknownUnicorn5511258
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@merabtene, maybe, but it is definitely possible. once the snowball starts rolling people will panic sell harder than they did in February. I'd expect it to take longer for the bearish realization to creep into the masses, but once it does, it could be far worse than this if a mid-day circuit breaker gets triggered.
last time, each circuit breaker day was triggered before the market opened. a rogue circuit breaker wave that occurs around noon could be way more damaging (i.e. like a flash crash).
(but to your point, the log scaling makes it seem worse than it actually is because of the angle I dragged it to lol).
merabtene
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@Perma_Pig, If that happens, we would definitely enter a bear market that will last for a long time. That would be ugly. Crazy valuation make me nervous too when the market move up but slightly. The best scenario I want to see is Indices going in a wide range of 20% at least, going back and forth between two levels, 3 months up +20%, 3 months down -20% that would be awesome.
horacejunior
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@merabtene, I think the bear market is already upon us... less obvious but one could argue the last 5 months were just an extended bear market rally. But that aforementioned 3+,3- would be sick.
UnknownUnicorn5511258
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@horacejunior, last hourly candle confirmed it for me. we are in.
hope there's no circuit breaker tomorrow so I can add