The market isn't tanking because ES and NQ haven't gone overbought yet. Does not appear that the algos are gonna hit the sell button until it does. The market is down because TSLA is down 9.5%. ES/NQ left a small open gap yesterday after the break, so I guess the algos are going for it right now.
Crazy whipsaw market the last couple of weeks, tough to make money. Gold and TLT up, BTC down, RTY overbought but ES and NQ aren;t. I dumped my BITO (BTC) puts way too early because GLD and TLT were green, lol.
Best guess is pump and dump tomorrow. MFI should hit overbought premarket tomorrow. My indicators say short tomorrow with next week's options. Probably one of those days where you wait 30 minutes then buy puts. Bad news or not, the algos will make their profit.
All cash until tomorrow morning.
Crazy whipsaw market the last couple of weeks, tough to make money. Gold and TLT up, BTC down, RTY overbought but ES and NQ aren;t. I dumped my BITO (BTC) puts way too early because GLD and TLT were green, lol.
Best guess is pump and dump tomorrow. MFI should hit overbought premarket tomorrow. My indicators say short tomorrow with next week's options. Probably one of those days where you wait 30 minutes then buy puts. Bad news or not, the algos will make their profit.
All cash until tomorrow morning.
Comment:
If the market can't tank with TSLA down 9.5%, is it ever gonna tank?
Assuming a gap up tomorrow, I think I'll stick to shorting garbage stocks, crap like BYND and PTON tends to go up a lot the first 30 minutes then tank.
I'm guessing the market just does another dip in this stupid whipsaw, and one of the FAANG stocks actually beats (maybe AAPL?), and ES gets the gap fill above then.
No big news tonight, so gap direction will depend on Europe.
Assuming a gap up tomorrow, I think I'll stick to shorting garbage stocks, crap like BYND and PTON tends to go up a lot the first 30 minutes then tank.
I'm guessing the market just does another dip in this stupid whipsaw, and one of the FAANG stocks actually beats (maybe AAPL?), and ES gets the gap fill above then.
No big news tonight, so gap direction will depend on Europe.
Comment:
Doncha hate it when the algos hit the sell button before you expect it? MFI never hit overbought.
Geez, what a hard market to trade. Gonna stay cash. Made a couple k's in the retirement account plus some beer money in the options account. Good enough for this week.
Good luck. Obviously I would lean towards bearish for tomorrow. If I see a play I'll post, if not expect the market to head down, but use next week's options.
Geez, what a hard market to trade. Gonna stay cash. Made a couple k's in the retirement account plus some beer money in the options account. Good enough for this week.
Good luck. Obviously I would lean towards bearish for tomorrow. If I see a play I'll post, if not expect the market to head down, but use next week's options.
Comment:
I could predict whipsaw every morning and I'll be right every time, lol.
Regardless of which way the market gaps, MFI will hit overbought premarket tomorrow. Bearish for Fri/Mon. Could just be another small dip though.
Maybe they pump earnings next week, MSFT/GOOGL/TXN/V after market close Tuesday.
UPS/PCAR/MMM/GM premarket Tues, tempted to bet on GM for the "not as bad as expected" trade.
Regardless of which way the market gaps, MFI will hit overbought premarket tomorrow. Bearish for Fri/Mon. Could just be another small dip though.
Maybe they pump earnings next week, MSFT/GOOGL/TXN/V after market close Tuesday.
UPS/PCAR/MMM/GM premarket Tues, tempted to bet on GM for the "not as bad as expected" trade.
The market could go down after the gap fill (on SPX), I dunno. Best to wait until tomorrow. Probably shorting garbage if the market gaps up tomorrow, there's obviously earnings fear in stuff like PTON and BYND.