ProfitHarvest
Short

[SPX 1D] In 'No Man's Land', Fri Gap Up Jumped Major Support...

SPCFD:SPX   S&P 500 Index
What a coincidence! Market stuck at one of the final support/resistance points before the top on Thursday.

Gap up was necessary to clear it and keep the FOMO pump going lol.
Comment: Looks about right :)
Trade closed: target reached: Nailed prediction on the 4th day. Fun idea!

Comments

I fought the fed and the fed won. Dumped all of my short positions totalling about a 35% loss all. Now I sit on the sidelines and watch this insanity without the stress. I will have my finger poised on the short button as I think this rally only has a few weeks left in it.
+2 Reply
ProfitHarvest WTFpattern
@WTFpattern, Fair enough. Given the upside potential of 3-5x on a crash, taking a 35% L on missed timing aint too bad.

These bets are never certain but risk/reward still brilliant if a crash happens anytime June/July.
Reply
WTFpattern ProfitHarvest
@ProfitHarvest, I agree, it was worth a shot the way the fundamentals are projecting. I think your title of "No Man's Land" is spot on. A climb or a crash from here would not surprise me anymore.
+1 Reply
ProfitHarvest WTFpattern
@WTFpattern, You got caught in the Big Money short squeeze trap. They'd been signaling they were gonna try to create one last FOMO/Short Squeeze to fully milk Retail as much as possible before the crash and it worked probably even better than they'd hoped. It's a brutal market yo.
Reply
AlmadeCubano WTFpattern
@WTFpattern, You can short garbage that jumps up, like GE, AAL, Hertz, etc. while you wait.
+1 Reply
WTFpattern AlmadeCubano
@AlmadeCubano, CHK as well? basically anything that is popular on Robinhood?
Reply
ProfitHarvest AlmadeCubano
@AlmadeCubano, I should have anticipated that travel stock FOMO wave because of course.
Reply
@ProfitHarvest Bingo! They didn't want the day to bounce around that line and possibly induce sellers, so what to do? Oh yeah, cause a big gap up and induce further sheep/keep sellers on sidelines. Gapping above major resistance is bearish.
+2 Reply
It gapped back down too.
+1 Reply
ProfitHarvest AlmadeCubano
@AlmadeCubano, Exactly B)... No Man's Land...
Reply
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