Same old theory. Long and strong in the direction of the trend. Waiting on 3600
Volatility contraction is what we are seeing here. I would expect this market to continue to bleed higher towards 3600.
I'm looking to buy dips for a ride to 3600. VIX is getting crushed, options data is pointing to a mean reversion type trade. It's always better to trade these mean reversion type trades in the direction of the trend, which is long here.
Long here expecting some sort of bounce back towards 3590 or so where we broke down from.
Vaccine news has pushed this market up 4+ percent. Since we are at all time highs, better to sit and watch the open and see if the buyers can gap and go here. 3550 is around the scene of the crime for the vaccine news. Definitely an area to keep an eye on.
VIX taking a beating again this morning, and I think this is once again, a long. It's friday and anything can happen still, but i'm seeing 99.5 percent sure that Biden has won the election.
More clarity on the election here, as it looks like it's going to Biden. Keep an eye on VIX today, if it continues to get squashed, we will likely continue moving higher. I, however, am skeptical. We are at the high end of the range we have been trading in since the beginning on September so I would be careful just blindly buying here. Things can still...
Still a toss up and a market moving 250-300 points in either direction! Caution!
I won't take a directional stance here, it would just be a guess. What's important to understand here is that technical levels are pretty useless when the volatility comes in following the election. Good luck and enjoy the volatility!
Caution taking a directional stance before the election. I think Im going to get some popcorn and watch this unfold. I would expect a non directional wide range day with the big players unlikely to commit to one side or the other here.
Middle of a wide ranging balance. Tough to initiate anything from here, watch 3300 and 3260 as a couple of key levels today.
Lesson for today is to have a plan on pullbacks. I heard many people yesterday jumping in on the shorts with no plan on what happens when the market pulls back. Have a plan, otherwise you will find yourself making poor, emotional based decisions, when the market starts to pullback.
Lengthy morning ideas today. I think it's very important to watch this and understand how to trade when volatility arises.
Flushout yesterday, I think its still wait and see. I'm thinking short until the market takes back 3425. Obviously, headlines and news could easily change things here.
Hard to short from the breakout area here, but the market clearly isn't loving the higher. We just can't push through 3450. As I said in the video, don't rush to jump in the market here, there will be PLENTY of opportunities coming soon. Election is next week and all hell is going to break loose after that. I would imagine we'd see lots of volatility...
The market pays the patient. Moved my stop up to 34 area. Looking for this thing to move to 3500. I will take this trade off regardless if it makes it there or not because I don't like to hold positions into the weekend.
Still long, sat through that flushout. Needs to get through here to push back into 3450. Now it's clearly accepting lower prices and that is not a good sign for the buyers.
Same story, haven't done anything to this trade, as it continues to just slosh around in this area. Same target area (3500) same stop area (below 3400) as we continue to wait to see what happens with the stimulus bill #2.