MFI overbought and Europe selling off but there appears to be dip buyers for stocks. FDAX down 1.5%, RTY is basically flat and the Dow is green. Futures selling off but the indices are barely moving indicating possibly more melt up.
Flipped my puts on open, calling it a week. I made more yesterday on long positions, that should tell you something because you guys all know I'm bearish, lol. I think it's hilarious that the market is pumping with a rate inversion, garbage stocks going parabolic again, and transports barely red with oil moving up again.
When the market makes no sense, stay out. The market is trying to melt up into a recession, lol.
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Market is behaving a lot like last Wed, garbage stock short squeeze continues, a bunch of them turning green meanwhile indices are red because of futures selling.
Everything pointing to another week if not 2 of melt up. Might take another week off.
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Looks like teh market is finally running out of buyers, Imma staying out and doing other stuff today
Good luck
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MFI and RSI are out of overbought territory and Euro markets are closing.
lol I like your post. I hope there will be some bounce back tomorrow, after that the market will continue to sell off. So the bounce back would be a good sign to short.
argentofrans77
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@ultruiliu, Good luck with shorting this beast..trend is up and should run again into fridays close!
ultruiliu
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@argentofrans77, I checked the chart again, probably this is it, may turn to upside very soon.