I keep saying that futures gap underneath needs to be filled, and small caps have the longest way to go to get there. So I bought some IWM puts this morning, and decided to hold it even though it looked like a repeat of yesterday right after lunch. I figured MFI wasn't oversold, and worst case, I just come out even, lol.
Holding the puts overnight, guessing we see a gap down tomorrow. We probably get a bounce when RSI hits oversold. Not gonna go long at this point until the gap below fills.
Algos control the market and the talking heads just attach a reason to it. They're blaming Dimon for his "cockroach" comment, lol. Financials did take the hardest hit though. Wish I had shorted XLF.
I think the gap below fills by next Friday, but I think you want to wait for a bounce before buying puts. If we get the gap down that I expect, I'm flipping my puts on open. We're gonna see some whipsaw tomorrow.
Holding the puts overnight, guessing we see a gap down tomorrow. We probably get a bounce when RSI hits oversold. Not gonna go long at this point until the gap below fills.
Algos control the market and the talking heads just attach a reason to it. They're blaming Dimon for his "cockroach" comment, lol. Financials did take the hardest hit though. Wish I had shorted XLF.
I think the gap below fills by next Friday, but I think you want to wait for a bounce before buying puts. If we get the gap down that I expect, I'm flipping my puts on open. We're gonna see some whipsaw tomorrow.
Note
Yo yo, hit the play button on this one. Did exactly what I predicted.Note
I hope this makes all of you believers in the 3 hr chart.Updated posted. Probably a bounce, but a big bounce is not guaranteed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.