Market is not tanking despite bad CPE numbers, seems the selling is near the end. MFI approaching oversold, probably a triple bottom here.
As I always say, nothing good can come out of the market pumping bad news, even if it is oversold, and we're getting quite a whipsaw as I predicted yesterday. I'm putting more effort into getting a date for tonight than the market, lol.
Does not appear that GM is going to hit my target today, so no compelling trade. They could've just gapped the market down hard on the news and everyone would have bought to fill the gap, but the market doesn't seem to want to create an easy play for us.
So far looks like a whipsaw day, Monday gap probably depends on news again. I think one of the reasons why the algos pumped was because the market rarely gaps down 2 days in a row. I'm just gonna let the market price in .75% in November, go long next week. I'll miss teh bottom but I'll be able to sleep this weekend. Daily is oversold so we will get a bounce sooner than later and teh fact that the market is holding despite bad news is a good sign.
Have fun.
As I always say, nothing good can come out of the market pumping bad news, even if it is oversold, and we're getting quite a whipsaw as I predicted yesterday. I'm putting more effort into getting a date for tonight than the market, lol.
Does not appear that GM is going to hit my target today, so no compelling trade. They could've just gapped the market down hard on the news and everyone would have bought to fill the gap, but the market doesn't seem to want to create an easy play for us.
So far looks like a whipsaw day, Monday gap probably depends on news again. I think one of the reasons why the algos pumped was because the market rarely gaps down 2 days in a row. I'm just gonna let the market price in .75% in November, go long next week. I'll miss teh bottom but I'll be able to sleep this weekend. Daily is oversold so we will get a bounce sooner than later and teh fact that the market is holding despite bad news is a good sign.
Have fun.
Comment:
The important thing here is that I've got a date tonight, lol.