Well, it hit my pennant target and bounced. FDAX is also oversold.
Went long on PCAR stock, plan to hold overnight as long as the market doesn't tank again in the last hour, lol.
PCAR rarely gaps down more than 50 cents and it usually fills gaps, so going with my safe play. Garbage stocks might go into a short squeeze rally, but I'm not playing it.
Went long on PCAR stock, plan to hold overnight as long as the market doesn't tank again in the last hour, lol.
PCAR rarely gaps down more than 50 cents and it usually fills gaps, so going with my safe play. Garbage stocks might go into a short squeeze rally, but I'm not playing it.
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Kinda amazing how accurate my target was, wouldn't be surprised if we get "news" about a possible deal to pump the market tomorrow.
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The Senate proposed a short term solution but I doubt the House passes it. This rally could be very short lived. Possible double bottom next week.
I might just cash out tomorrow, what happens Friday and Monday depends entirely on news. PCE Friday, shutdown Monday. I can't predict either one.
I might just cash out tomorrow, what happens Friday and Monday depends entirely on news. PCE Friday, shutdown Monday. I can't predict either one.
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Mind you, if they resolve the budget issue, the market is gonna gap up big.... and that can happen any day next week. Not gonna short the market at this point, a big gap up will cause a squeeze.
Trade closed manually:
Well, PCAR went up a buck on that SPX gap fill, dumped my 1k shares for a quick profit.
Gotta earn that beer money somehow, lol. Looks like I might have nailed the top for this morning too.... like perfectly. i was waiting for $1 since there's no gap fill this week.
Gotta earn that beer money somehow, lol. Looks like I might have nailed the top for this morning too.... like perfectly. i was waiting for $1 since there's no gap fill this week.
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WHipsaw. Love PCAR stock though, it still did what I was hoping it would do.
I'm all cash again, and I can't recommend going long with a Fed shutdown looming. If it wasn't for the Fed shutdown I'd be bullish today. I made my money, not worth the risk now.
I'm all cash again, and I can't recommend going long with a Fed shutdown looming. If it wasn't for the Fed shutdown I'd be bullish today. I made my money, not worth the risk now.
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If you went long yesterday like I did, I'd close it out now.
Possibility that this is an inverted H&S with room to go up, but I don't think it's worth the risk.
Assuming Fed shutdown, I don;t think I'm going long again until Tuesday
Possibility that this is an inverted H&S with room to go up, but I don't think it's worth the risk.
Assuming Fed shutdown, I don;t think I'm going long again until Tuesday
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I said it yesterday, I expect the market to double bottom Monday if there isn;t a budget deal. Prob a whipsaw day today, I'll buy puts tomorrow for a beer money bet. Not willing to risk a lot since daily indicators already hit oversold.
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I was right about the inverted H&S, that pattern has completed, now you're just betting on Congress getting a budget deal done in 2 days. I have very little faith in the idiots in DC.