Market trading on news again, lol. A bit surprised AAPL hit the 4.3% options target today already. Not chasing the market because there's an open gap from the 1 hr break yesterday. Plus volume is low.
Not sure about shorting but I don;t recommend chasing the market today because of the gap. No way in hell am I holding any long positions over the weekend with a gap below. Still just watching, might take a small short position if I find something.
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Gonna wait until next week to short, since it's Ponzi 401k Friday. We could see some weakness when the Euro markets close though.
Going into this week, I was bullish on the Fed and bearish on AAPL, but it wound up being exactly the opposite, Glad I decided to stay out, would have hosed myself. Tough trading on news, you never know which way it'll go.
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I'm not sure the algos are running a normal pump and dump on indicators here, I think they're just getting revenge because they set up for a Fed pump and the market dumped on them, lol.
Market looks staled out now that it hit pre-Fed meeting levels.
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There's your weakness after Euro market close, I don't recommend buying the dip because of the gap below. Probably just more whipsaw next week, daily MFI is still bearish.
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Well, I managed to find something to short after all, SLY. Earnings hangover. Just rolled over the day trade profits into next week's puts. If the market gaps up Monday, I'm adding. Garbage is looking for $10 gap fill from last quarter's BS earnings pump.
Interesting trade on FSLY. It certainly looks very weak at the moment. But, it's about to hit the 200-day MA, and there is a .618 Fib from its recent high back to what looks like its all-time low converging at about the same spot ($11.35). I'm not saying it'll bounce there. I'm just very interested to see what happens. GL with the trade!
BoomerMo
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Oh, and I've added FSLY to my garbage stock list. I needed a new one since BBBY is gone.