Probably Gonna Get Bashed, But It's Blow-Off City
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Always mistime the first entry, so that I force myself to follow. Also, the thought of missing the inevitable blow-off, is more gut-wrenching than a tiny lotto put position expiring away.
Honestly, could either drop to 30 here for a mild gain, or (hopefully) continue to defy the laws of decency, and fly to 42. That would make the 14 RSI so unbelievably great for next week, that a blow-off, and not a large pullback, will be set in stone, imo.
I will be building 1/2 my put position for next week if that's the case. If its a pullback, I will flip to the long side in a heartbeat at under 30 bones a pop.
-Pig
Honestly, could either drop to 30 here for a mild gain, or (hopefully) continue to defy the laws of decency, and fly to 42. That would make the 14 RSI so unbelievably great for next week, that a blow-off, and not a large pullback, will be set in stone, imo.
I will be building 1/2 my put position for next week if that's the case. If its a pullback, I will flip to the long side in a heartbeat at under 30 bones a pop.
-Pig
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Seems that there are other places to long now. Would exit.
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Solid day for longs. I am short at-the-money for hedging purposes.
If it blows off, great, my position is too small to care.
Still, I would be cautious longing over 45 this week.
If it blows off, great, my position is too small to care.
Still, I would be cautious longing over 45 this week.
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Think if the market pops, this get's crushed down. Logic: Same as above but market turning is a perfect smokescreen for a rug pull. If all the bullies enter now, their stops below 40 will get hit all at once.
Might just short this as a short, not a hedge.
Might just short this as a short, not a hedge.
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Couple things that could help a) bulls save time and money and b) bears save time and money.
1) Fact that my chart is about 3 dollars short but has a similar form means that there is still the (slight) possibility for a blow-off type of move down, but it will be much less severe than if there was no pullback prior to the market dump on Thursday. Good news for bulls, but only as far as you're less likely to puke while holding until you turn 50.
2) The one event that can still offer a "rug-pull" type of opportunity is if/when pro sports resume. If you think this hasn't been priced in, think otherwise. If you think that the price will soar the day that pro sports resume then that will be the reason for the rug pull.
Wish this thing would drop already so can get in long properly.
1) Fact that my chart is about 3 dollars short but has a similar form means that there is still the (slight) possibility for a blow-off type of move down, but it will be much less severe than if there was no pullback prior to the market dump on Thursday. Good news for bulls, but only as far as you're less likely to puke while holding until you turn 50.
2) The one event that can still offer a "rug-pull" type of opportunity is if/when pro sports resume. If you think this hasn't been priced in, think otherwise. If you think that the price will soar the day that pro sports resume then that will be the reason for the rug pull.
Wish this thing would drop already so can get in long properly.