@ProfitHarvest, would be really awesome if we could catch this short, but what would be the most strategic way to go about it?
kelvinzheng17
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You guys think there's another crash for March, like 2020 for a price correction? I'm thinking about like March 11, 2021. Not too sure What I'm thinking.
Eloquent
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@kelvinzheng17, Really hard to say to be totally honest with you. but take a closer look at what happened last February: The wave 3 algorithmic target was hit almost perfectly, and it created a perfect algorithmic wave 4 pull back. It's the same algos driving up this market, so it only makes sense that they sell at the wave 5 target. There's always a chance for an expanded fifth, but I'm not betting on it until we get some kind of confirmation.
We could literally grind up here all year before it drops, that's what sucks about this situation, there's no way to time it. Eventually though, yes I do believe we will see massive capitulation.
kelvinzheng17
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@Eloquent, Mid Feb, I was thinking about getting out on all my positions but didn't. No one know it would happen have a downfall on late Feb. I guess we just have to buy on Red days then some more on Red days. Now, I guess I have to wait for all of them to go back up.
Eloquent
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@kelvinzheng17, i managed to short spy,qqq,iwm and longed uvxy on the first initial drop, but the charts didn't make any sense since then. in fact, ever since last september... whatever kind of move this is doesn't make any sense to me. it looks like a very complex correction is taking place and it isn't finished yet. i'd love for it to end so i can take some real long positions again, but until then it's just going to be chop and grind.