Once again futures go the exact opposite direction as EOD trading, I thought we were going to get a small gap up so I was wrong there, but I made the right trade regardless by shorting garbage (BYND & ROKU).
As you can see on the updated chart, we're on the bottom trendline, if that fails then it's tank city. RSI looks like it rolled over and MFI is still near overbought territory. Accumulation remains strong though.
I was up another $5k, so I flipped all my puts. WIll decide if I want to buy puts for Monday in the afternoon. If I had to guess, I'd say it's gonna whipsaw today, then break Monday because Euro markets tanked.
As you can see on the updated chart, we're on the bottom trendline, if that fails then it's tank city. RSI looks like it rolled over and MFI is still near overbought territory. Accumulation remains strong though.
I was up another $5k, so I flipped all my puts. WIll decide if I want to buy puts for Monday in the afternoon. If I had to guess, I'd say it's gonna whipsaw today, then break Monday because Euro markets tanked.
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Note: I did enter into some April PD puts today as well. Stupid garbage company... lost money on earnings last week, and I'm still pissed, lol.
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Amazeballs they really are going for the gap fill/.
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... and the tank. I told you guys that the algos will figure out a way to make profits and they did. Gap fill and they sold.
Got back into ROKU puts and some WDAY puts because it's garbage. Just profits from this week only, since Monday is a bit of a gamble.
Indicators rolled over, and there's MFI divergence, so the indicators are bearish, chart pattern is bearish, but we all know the market trades on news, and any of the governments could pump more money into the market.
Chart wise, you can see we finished right on the lower trendline, so I say it's 50/50 but I'm betting down.
Got back into ROKU puts and some WDAY puts because it's garbage. Just profits from this week only, since Monday is a bit of a gamble.
Indicators rolled over, and there's MFI divergence, so the indicators are bearish, chart pattern is bearish, but we all know the market trades on news, and any of the governments could pump more money into the market.
Chart wise, you can see we finished right on the lower trendline, so I say it's 50/50 but I'm betting down.
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Keep in mind that futures seem to go the opposite direction as EOD movement so we could very well gap up I guess. 50/50
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Everything looks good except I usually bet against EOD action, which is how I've been making my money....
So the only question is how are the govts going to pump the market this weekend? Without a pump, I assume it has to go down because the corona numbers for the US are gonna be bad, real bad,,,
So the only question is how are the govts going to pump the market this weekend? Without a pump, I assume it has to go down because the corona numbers for the US are gonna be bad, real bad,,,
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Just curious, is anyone else making money off these huge gaps? I know it's counter-intuitive and and a bit crazy to bet against the EOD action almost every day but it's been ridiculously profitable.
As always feel free to message me, I answer every message.
As always feel free to message me, I answer every message.
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LOL, futures go in the opposite direction as EOD action. Up right now on China rate cut and QE. Like I said some govt will pump it.... Korea and Australia also talking about more pumping.
We'll see what the EUros do in the morning.
We'll see what the EUros do in the morning.
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Meanwhile we all know this country is in a load of trouble:
Social distancing until end of April (from Trump of all people):
www.washingtonpost.c...navirus-latest-news/
Fauci says a million cases possible with 100,000 deaths, damn that's a great reason to pump futures:
www.cnn.com/2020/03/...uci-cnntv/index.html
If the market gaps up big, fade the gap....
Social distancing until end of April (from Trump of all people):
www.washingtonpost.c...navirus-latest-news/
Fauci says a million cases possible with 100,000 deaths, damn that's a great reason to pump futures:
www.cnn.com/2020/03/...uci-cnntv/index.html
If the market gaps up big, fade the gap....
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Not sure what I'm doing still up, but futures rolled over as soon as Euro pre-market opened. Chinese still buying, Euros selling.... we'll see who wins in teh mroning....
Entering into some puts before close because I think the number of cases in the US will explode over the weekend, but I think the chart really says go long... but who wants to do that over a weekend?
I think Monday is 50/50 and news dependent. If it drops, I think it drops big. If it rallies, then another chance to short at the top trendline. Probably doing some cheap puts like GM, small play.