Sweeps in the millions are already being loaded in puts. I am laughing so hard at the bulls. Its hysterical. Its called banks being banks. Their goal is to brainwash you and try and sell you everything at the highest price before the dump. If your new to the market or you are in the market for a couple years, you are about to learn a hard lesson. Day trading is for unskilled losers anyway. Put a few 100k into your short positions and give it a few months, you will be nicely rewarded.
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Heres one other thing for you kids... and you are kids. I said earlier this week I would not be one bit surprised to see the market hit 477/478. It makes no difference though. I dont trade SPY.. I trade stocks... SPY is market sentiment and all the stocks I am in are very much in bearish setups. As I mentioned, banks are already going short on todays pop. Keep using your moving averages and not knowing a thing of how the market works or how to truly chart. If you day trade and bought puts for Friday, well you should have seen the expected move for the week and know how to calculate that. I posted it all right here earlier this week. Guess what........... green candles show up in a bear market. All my charts very much are in a bearish setup. Green does show up in red. Like UBER.. its expected to go up from here.. but not much before the next smackdown. Anyway.. this took up to much of my time already. Just know.. I am laughing. What is coming is going to be epic and the kids who dont know how the market works are going to be woken up big time as reality crashes in.
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For all those shocked about the movement today...
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Remember this.. the expected move for the week is 8.49 Mark that off from last Fridays close. Its about a 75% chance you stay within that boundary. I know you expect the market to just melt off and go to zero in a day but that's not how things usually work. Mark off 8.49 and realize that once you get outside that move, they generally need to reel the market back in whether to the upside or downside. Seems there are a lot of surprised people second guessing themselves who are bearish. This is what the market does and wants. There whole goal is to have you buy high and leave you sitting there losing your money. They dont know your name, who you are nor do they care. This is a business and how they make money. And today, banks spent big money and I will tell you its not counting on things going "to the moon".
