I called the previous top. (www.tradingview.com/...hen-it-fits-my-bias/)
Now I called this zone too. (www.tradingview.com/...bottom-may-be-found/)
We are now just about there.
Heres how I am playing this personally.
Buying equity in stocks that I like. Buying end of april calls as well. I think we can see relief and a bounce around here, I am not suggesting we go on to break all time highs but you can read the last post of mine for my general thesis.
If we gap down below those 2 green lines I wont buy ANYTHING until I see strength that indicates pushing above that zone.
The stop is LOOSE. However, generally I am looking for something that indicates we will be breaking that 2018 dec low convincingly. We could, of course, break it to take stops and go up but id start to be skeptical.
For long term stuff I can handle some damage and I MIGHT even hold it under 2200. under 2200 im VERY bearish. With how volatile this is I have to at least be careful with some movements.
The other non-chart related damage I cant deal with is if Trump or Pence get confirmed cases of CoV. This I DO NOT believe is priced in.
Not financial advice.
BE CAREFUL.
DONT COPY ME.
DONT RISK WHAT YOU CANT AFFORD TO LOSE.
Now I called this zone too. (www.tradingview.com/...bottom-may-be-found/)
We are now just about there.
Heres how I am playing this personally.
Buying equity in stocks that I like. Buying end of april calls as well. I think we can see relief and a bounce around here, I am not suggesting we go on to break all time highs but you can read the last post of mine for my general thesis.
If we gap down below those 2 green lines I wont buy ANYTHING until I see strength that indicates pushing above that zone.
The stop is LOOSE. However, generally I am looking for something that indicates we will be breaking that 2018 dec low convincingly. We could, of course, break it to take stops and go up but id start to be skeptical.
For long term stuff I can handle some damage and I MIGHT even hold it under 2200. under 2200 im VERY bearish. With how volatile this is I have to at least be careful with some movements.
The other non-chart related damage I cant deal with is if Trump or Pence get confirmed cases of CoV. This I DO NOT believe is priced in.
Not financial advice.
BE CAREFUL.
DONT COPY ME.
DONT RISK WHAT YOU CANT AFFORD TO LOSE.
I want to give a bit more clarity to my position.
1.) I said the stop is LOOSE. The stop shown on the chart isnt hard, I may cut some risky positions/short term stuff if we go for it but long term buys I will continue to average in.
2.) I said under 2200 im VERY bearish. This refers to a SIGNIFICANT time spent there, IE: Weekly close or more than a day there or something. Time + Price work together. If we go under it but get rejected im not selling stocks i bought for long term portfolios out of fear of more downside.
Play smart.
We will likely see 22XX on spx.
Do not freak out.
Stay safe.