Absolutely no liquidity midday as cryptos tank again.
GM hit my stop, swapped over to EWZ (Brazil) puts because oil is dropping. EWZ likes to gap because Brazilian markets open before the US.
Wish I had re-shorted PDD. Oh well. Chart patterns tell me that the market has given up on the gap fill attempt for the one above and will fill the lower gap tomorrow or Friday.
Looks to me like everything wants to double bottom and there's a long ways to go for EWZ. Looks like the garbage stock short squeeze is over as well. I could kick myself for making the same mistake as last week getting bullish because of the open gap above, but I'm still green for the day and my rule is to never kick yourself if you made money.
GM hit my stop, swapped over to EWZ (Brazil) puts because oil is dropping. EWZ likes to gap because Brazilian markets open before the US.
Wish I had re-shorted PDD. Oh well. Chart patterns tell me that the market has given up on the gap fill attempt for the one above and will fill the lower gap tomorrow or Friday.
Looks to me like everything wants to double bottom and there's a long ways to go for EWZ. Looks like the garbage stock short squeeze is over as well. I could kick myself for making the same mistake as last week getting bullish because of the open gap above, but I'm still green for the day and my rule is to never kick yourself if you made money.
Trade closed manually:
Hey, I got back my lost profits for the day, up $2k for the week so I flipped my EWZ puts, lol
This drop just seems overdone.
This drop just seems overdone.
Comment:
I found a better use for my profits, bought 3 GME puts (next week's). If cryto tanks it's taking GME with it. All or nothing bet, letting it ride.
If it breaks $80 support it's headed straight to $40
If it breaks $80 support it's headed straight to $40
Comment:
Still not oversold yet, grabbed a few EWZ puts as a gap play for tomorrow
Comment:
I think TGT ruined the "flight to safety" play, a lot of stocks like PCAR that has been trading in a range look like they're going to lose support.
I'd be wary going long at this point except for day trades. Zero chance I hold a long position overnight or over the weekend. At least until next week.
I'd be wary going long at this point except for day trades. Zero chance I hold a long position overnight or over the weekend. At least until next week.
Comment:
Also much like last week, there is absolutely no liquidity mid day.
Comment:
The futures gap filled, but it's not oversold yet.
Would seem appropriate to go oversold and reverse tomorrow like it did last Thursday. We'll see...
Would seem appropriate to go oversold and reverse tomorrow like it did last Thursday. We'll see...
Comment:
CSCO and JNPR both missed so NQ and YM are down after hours already
This crypto tank is gonna be like the COVID tank where rules no longer apply. Stocks that usually fill gaps aren't, and apparently they're gonna leave that upper gap open for a while.