I think I'm gonna keep it simple and just add more WMT puts this morning
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This pumptardedness is amazing, but at least bonds are acting properly now. TLT red, wish I had held those puts yesterday, lol.
Bonds are supposed to go down when the market goes up. In any case i got into more WMT puts for next week, I think market comes back to reality next week with retail earnings.
Market still melting up, I don;t think this is the algos, I think it;s retail buyers and funds trying to ride the short squeeze. Can;t be the Euros, they're flat
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Wow even WMT now going up, stooped out for a small loss
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I did short Bitcoin again this morning, small bet, kicks and giggles. Gotta make some beer money, lol. Might be a day trade since it seems to go up during Asian hours
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The pump looks to be over, bought a few puts. No WMT this time, lol.
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Flipped my puts when QQQ went red, bought some BITO calls for next week and turned my position into a strangle. I'm done, another whipsaw day.
Bitcoin is trading with garbage tech stocks and I'm bearish on it, but you never know. Crap can get pumpatrded real quick.
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Looks like QQQ was just a gap fill. BTC strangle and that's it for me.
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Idiots are pumping oil futures again, no wonder why bonds dropped.
Every time these idiots pump oil futures it tanks everything else. Bearish for tomorrow
yes its retail dip buyers, all piling back on all believe in new ath, big sad surprise coming soon imo. not shorting pumptards yet (my relatives are all onboard they all say "u a damned fool you should be in this!" LOL I warned them...)
thelion01
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How market has liquidity when QT is going? I just can’t be bullish about the mkt until QT is over
jakslo23
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@thelion01, the thing is it's not going, did you check FED's balance? They just say these things, but don't do them. Market noticed, hence the summer pump.
hungry_hippo
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@jakslo23, they can't because they'd have to sell at a loss. You are right though, that's why there's still so much easy money floating around.
jakslo23
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@hungry_hippo, they are government, they can lose whatever money they wish, or fake the books. But actually, this money was printed out of nowhere anyway, so they might as well sell and cancel the cash left lol. The thing is they don't wanna because big boys play together.
vineover
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all your lines are useless now lol
hungry_hippo
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@vineover, yes, once it breaks out then they are useless. That's how all channel lines work.
Although we could see a back test, once we do then it's worthless, lol.
hungry_hippo
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@vineover, up or down, nothing stays in a channel forever. In fact, I think that's why the market was so bullish the past couple of days was because of the breakout, Everyone's looking at the same charts. 8.5% inflation isn't good news, it's all chart driven on this technical bounce.
Woerle
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Check other timeframes as well before, 4h-1day-3days, because a decision on one timeframe alone might be wrong sometimes. Oversold or overbought conditions can persist, especially on shorter timeframes.
hungry_hippo
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@Woerle, 4 hr doesn't work. I do look at both daily and weekly though. You pick the timeframe that works the best for short term trading, and it's 3hr if you trade weekly options.
(my relatives are all onboard they all say "u a damned fool you should be in this!" LOL I warned them...)