NQ MFI almost oversold, but CPI coming up tomorrow
We could get a "not as bad as expected" rally since oil is down and rent prices have stabilized.
Made back the money I lost trying to short shitcoin by buying PTON puts yesterday (I know i said i wasn't gonna trade but that was too easy, so I bought some while in the doctor's office, lol). Already flipped them for easy money, obvious reversal pattern yesterday.
Generally speaking you're supposed to go long when MFI gets oversold, but I think I'm gonna skip this one, I'm not that bullish. If you think inflation numbers are gonna be bad, you're probably better off shorting TLT or SHY (bond ETFs).
At this point I'm taking pot shots at shorting the market when it's overbought, but I would caution against indiscriminately shorting stuff (or indices). Watch for the premarket whipsaw tomorrow morning eitehr way....
We could get a "not as bad as expected" rally since oil is down and rent prices have stabilized.
Made back the money I lost trying to short shitcoin by buying PTON puts yesterday (I know i said i wasn't gonna trade but that was too easy, so I bought some while in the doctor's office, lol). Already flipped them for easy money, obvious reversal pattern yesterday.
Generally speaking you're supposed to go long when MFI gets oversold, but I think I'm gonna skip this one, I'm not that bullish. If you think inflation numbers are gonna be bad, you're probably better off shorting TLT or SHY (bond ETFs).
At this point I'm taking pot shots at shorting the market when it's overbought, but I would caution against indiscriminately shorting stuff (or indices). Watch for the premarket whipsaw tomorrow morning eitehr way....
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I want to remind everyone that the market tanked in the afternoon before the last 2 CPI releases, so if you;re bullish, wait until EOD to buy
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NQ touching oversold now, but like I said the market tanked before the last 2 CPI releases. I'm all cash, just watching.
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Got the MFI bounce I expected, the bear scenario is RSI going oversold, the bull scenario is up, lol. It's all about the CPI tomorrow.
I forgot I withdrew money to pay my credit card bill, I'm actually up a few hundred bucks this week, the market pays my beer tab as usual. We'll see if there's an opportunity to make real money later this week now that my colonoscopy is over, lol.
I forgot I withdrew money to pay my credit card bill, I'm actually up a few hundred bucks this week, the market pays my beer tab as usual. We'll see if there's an opportunity to make real money later this week now that my colonoscopy is over, lol.
Comment:
Huge move and still not overbought. Will update this afternoon if it gets overbought.