Indicators are close but not quite oversold. So a little more down room then probably a reversal Monday.
Trade closed: target reached:
TLT hit my target of $101 so I'm out. SPX looks like it wants to bounce off support anyways. After a rough start I managed to make $3k plus another grand and a half this week, so I'm done. No day trades since I expect whipsaw, unless MFI or RSI goes oversold then I go long/
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Markets closed Monday, lol. See ya guys Tuesday unless something interesting happens this afternoon
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BTW, I have this rule that SPX doesn't leave open gaps 2 days in a row without filling the second one, usually happens that day but sometimes takes a week or two. I'm talking about the daily index, not ES.
That should explain why I flipped my puts basically after open.
That should explain why I flipped my puts basically after open.
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.... and the whipsaw continues, lol.
So all week I said I was bearish on TLT and when it hit support that I would be bullish, and here we are. Indicators never hit oversold but ES bounced off support. Could be yet another whipsaw day because it's options expiration.
Made some more beer money with calls, but I'm out now. See ya Tuesday.
So all week I said I was bearish on TLT and when it hit support that I would be bullish, and here we are. Indicators never hit oversold but ES bounced off support. Could be yet another whipsaw day because it's options expiration.
Made some more beer money with calls, but I'm out now. See ya Tuesday.
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MFI touched oversold but RSI hasn't so gonna wait until Tuesday to make a move. Another 2 days of whipsaw I guess, because the Fed minutes will cause another one.
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I'm leaning bearish after looking at AAPL chart. Also bearish on China.
A lot of the stuff that bounced looks more like short covering, such as TLT. Everyone's looking at the same chart, saw the same thing I did.
A lot of the stuff that bounced looks more like short covering, such as TLT. Everyone's looking at the same chart, saw the same thing I did.
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Still feeling bearish about China, problem is there will be 2 days of trading before our market opens Tuesday. Still might do some LI puts, they're cheap, maybe 20 contracts of OTM puts since I made $3k this week.
Indicators aside, you still have to look at FDAX which bounced off the lows well before market open, and also support levels on the ES! chart
Like I always say, I should've gone long when I sold my puts, lol. Would have been perfect timing on TLT.