With stong fundamentals it's not likely that the spx will continue to drop, in fact it looks really cheap right now, with the market being predicted to surpass it's previous highs a long trade is one of the best positions to be in. This are some great entery points to buy since the price seems cheap relative to what it's been in the recent past
"....This are some great entery points to buy since the price seems cheap relative to what it's been in the recent past...."
1) S&P500
2) relative to recent past
3) cheap
Do these 3 phrases/words really match into the same sentence?
Pls, don't take it as an offense. I am just curious?
DarkMessiah777
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@AcemiYatirim, yes that's exactly the criteria I use on my trade, we can see that the second entry has been touched it's now time to see what the market decides
thesilverbullet
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scalp to 2740
DarkMessiah777
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@thesilverbullet, I actually did do that, unfortunately it didn't reach there but price did get really close so I was able to sell
thesilverbullet
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@Chuygbg, yeah i made 3 nice swing trades today and went short with this last trend break for another scalp.. yummy vol
DarkMessiah777
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@thesilverbullet, yeah today was a very active day, there was a ton of easy scalping but that trump news totally wrecked this trade
thesilverbullet
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@Chuygbg, I think the market was prime to come down today regardless. We went into a new month with bearish technicals.
DarkMessiah777
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@thesilverbullet, hmm I'm not so sure about that, I don't tend to look much into dates except for quarters but, hey I believe you but ugh this looked like such a promising trade, it broke my hot streak :(
SimonPhillips
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But agree long term this is one of the best buying opportunities
DarkMessiah777
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@SimonPhillips, why do you think price will be heading to 2600, that seems like a very low level for the spx to be heading throwards, although it would be a great buying opportunity I feel the market showed that the spx was way undervalued at that level and that's why we saw price increase so fast, however price today has dropped pretty dramatically after Jerome Powell's testimony to congress so I do see the market depreciating more however with the U6 at 4.7 and U3 at 4.1 (National unemployment and unemployment rate) I feel we are in for an inflatory economy within the next years which should skyrocket equities.
1) S&P500
2) relative to recent past
3) cheap
Do these 3 phrases/words really match into the same sentence?
Pls, don't take it as an offense. I am just curious?