I think I might take a break from the market for a couple of days after tomorrow. Every time I get bullish the market takes a crap, lol. From now on I'm just gonna take a break when I expect a rally.
Best case scenario for bulls is a repeat of last Thu/Fri but I'm not sure there are enough buyers left
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It will be interesting to see how foreign market algos react to a 4 - 5% overnight drop for them. Anyone that bought the past 3 nights are under water now, and the underlying assumption for bull algos (especially Asian algos) appear to be that the market will eventually go up. that isn't true anymore.
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BTW, I hope everyone remembers my 3 or 4 day short squeeze rule. 4 days then done, even though futures gap didn't fill.
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I also said last week it looked like hedge funds were liquidating their positions. Appears I was right.
@Divergencify, TGT missed on earnings sending all retail stocks down and CSCO missed after hours so tech futures are down. The country is headed for an earnings recession if not a full bore recession. Powell also said yesterday he's raising rates regardless of what the stock market does, his only concern is inflation. (That caused the afternoon dip yesterday but the market pumped EOD anyways.)
I was expecting the gap to fill before the tank so I wasn't quite ready. I managed to make money today only because I shorted PDD because I expected China to go down. Oddly they went flat and the US tanked, lol.
Divergencify
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@hungry_hippo, thank you for answering. Do you trade Nikkei?
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@Divergencify, no. Just US stocks and ETFs. Even when I trade foreign indices it's through ETF options in the US. I'd never sleep if I traded futures.