still seems mostly like rotation to me - energy, financials, retail moving up with mostly tech getting slaughtered. the high price/sales, prices/earnings/growth names seem like they could be abused quite a lot more to me.
@DaddySawbucks, i'm right there with you - 285 was my number which is around the 200 day ma. are you using the overlay to get a sense of the amount of time you think it will take or something else? it might be interesting to look at vix (or vxn) with this as well to see if that can be the signal for capitulation. it seems very tempered in this selloff, suggesting we are not at the bottom yet to me. what is your take?
DaddySawbucks
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@tacosaurus, yep lookin at VIX which is 'ho-hum' thats b/c DJI, RUT are holding up; capitulation selling will tank them all and pop VIX. IMO this will be a vicious beast that takes down hard. Did you see today how QQQ gave back evry penny from Friday?!
I hold puts during the selloff but occasionally will short a put or even buy a call if it looks like a countertrend is forming to scalp a pip; it just wasn't there today, pretty much straight drop with a few pauses after the early rally and retracement it just went like a rock. More soon IMO
DaddySawbucks
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@tacosaurus, yes the time frame in overlay suggests length of moves, price never follows the same path twice exactly but expect sell, rally, sell, weaker rally, deeper sell
tacosaurus
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@DaddySawbucks feels like we have a monster rally coming.