moonshot

SPY long overdue for correction

AMEX:SPY   SPDR S&P 500 ETF TRUST
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I know people been saying we are overdue for a correction forever. Was going to enter a short at 4200 but did not because I'm 95% a "long" trader. Several traders I follow like Mark Minervi and Gareth Soloway began building net short positions at beginning of summer, I believe around 4000-4300. Minervi posted on July 15th that he was net short the market when S and P was at 4325/50. Usually they are correct but sometimes it takes a little longer to play out.

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A correction is coming, but not today.

That's really the magic, figuring out the 'when'.

ATR tightening, RSI tightening, VIX range tightening. All the major technicals are coiling up. When it happens it should be epic.
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moonshot JebusLives
@JebusLives, I don't think it will be as big as people think but it will happen just a matter of when. I wish there was a way to short everything except FANG. I'd gladly hop on that train now.
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andy5868 moonshot
@moonshot, I could see us having an end of 2018 type of correction where it's around 20-25%.
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