With last night's pumptardedness futures are overbought. Will wait for divergence before getting into any huge short position, though I did buy some XLF puts this morning.
I'm not chasing this rally at the top. There's a chance it can melt up like last summer, but the risk/reqrd is definitely not there with that gap underneath.
I'm not chasing this rally at the top. There's a chance it can melt up like last summer, but the risk/reqrd is definitely not there with that gap underneath.
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Looks like the algos are setting up for another pump and dump, lightened up on some of the short positions just in case they decide to pump futures again.
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Computerz definitely setting up for a pump and dump again.
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Looks like it's gonna drift sideways tonight to work off the overbought condition.
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Another sideways drift, probably another flat open and more whipsaw tomorrow.
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Futures flat, don't forsee the Euros doing much overnight. Good night everyone.
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I guess the pump machine still works. Looks like we may melt up going into the Fed meeting.
Appears to have hit some sort of support here at the gap though.