The recent mania caused by the astronomical run up of short squeezed stocks has just created "the ruse" or the perfect distraction, by grabbing all the bullish, ridiculously greedy speculative money and attention and focusing it squarely on companies that would normally be found in the waste basket.
So while all that hysteria was being hyped up,and going on,instant millionaires seemingly were being created on the fly from chat and social media sites who simply advised that you just buy" any' of these stocks, and hold on for wealth you never dreamed possible.
But while all that was going on, the other 99 % of US stock market as depicted by the S+P 500, was beginning to show cracks, and internal measures of lost momentum and strength.
So today,seemingly caught as "flat footed " as a crowd of traders and investors could be, the overall market rolled over and tanked breaking important support to the downside.
What happened ? Why did the market sell off so sharply today, after making all time historic highs just yesterday ?
Well in actuality I think the bull trap was executed about as perfectly as possible. The ruse had been set you see..
The crowd of investors were paying attention to something else, and not minding the store at home. Big money was also guilty of not minding the store.
Talk about pulling off a humongous bank heist, in broad daylight awhile the cops were just standing across the street, watching it all go down. Never seizes to amaze what happens when we are distracted.
I feel like we've seen this movie before. A sharp correction, but still within it's bullish channel. Another trap?
I don't pretend to understand this market anymore and elevated PEs may be the new norm.
Retail investors continue to game the system and beat the street at their own game.
I continue to stay on the sidelines.
z3m25
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I went to 80% cash Friday at close and picked up short positions yesterday. Everything was there showing the resistance, indicators, price action, all we needed was the push. Dissapointed in myself that I didn't put anything into the vix.
I think the actual trigger could be GME when funds eventually dump their stocks to cover their shorts on GME. All the market money will flow into the squeeze of GME. I wouldn’t be surprised to see GME goes up to 10k+ a share.
poister198
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Defo a bear trap, losses immediately reversed, congrats if you bought dips!
I don't pretend to understand this market anymore and elevated PEs may be the new norm.
Retail investors continue to game the system and beat the street at their own game.
I continue to stay on the sidelines.