How Low Will it Go?!
Updated
Look to the 2020 correction zig-zag to form bottoming price structure. Getting crushed to capitulation in October would be the usual outcome.
Timeline for the bear likely will be in the 9-11 month range, bottoming on October or early November. Typical bear is nine months, rarely >15.
RSI would get crushed well under 20%. Short -term oversold condition could provoke a weak rally; short onto any rally going forward imo.
Be ready to enter longs in 4th quarter. Do not get onboard too soon, do not FOMO my friends. There will be plenty of time for longs after.
Better to miss the bus than get run over by it, eh?! Be wary when bottomfishing! GLTA!!
Timeline for the bear likely will be in the 9-11 month range, bottoming on October or early November. Typical bear is nine months, rarely >15.
RSI would get crushed well under 20%. Short -term oversold condition could provoke a weak rally; short onto any rally going forward imo.
Be ready to enter longs in 4th quarter. Do not get onboard too soon, do not FOMO my friends. There will be plenty of time for longs after.
Better to miss the bus than get run over by it, eh?! Be wary when bottomfishing! GLTA!!
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Shorting the gap qqq 293p, added 290p; six eachNote
Closed it all for push insanely pumptarded.Trade active
-10 Jul-20-22 $291 Puts+10 Jul-22-22 $296 Puts
net debit $3
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Add 5 spreadsNote
Closed the damned thing took small hit rolled into 296 and pushed it for a flat. Astounding how they bull the gdmnd thing. An obvious trap but the squeeze is ferocious.
Watch, wait.
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I spose a stupid rally may boost over 4k and close the June gap at 4118. Perhaps breaking up from near-term bottom. Nutty rallies in bear markets kill shortz, be carefull fgs.Note
Nuts!Note
Triple top formation under 4k. There is a gap at 4018 remaining to fill and I'm reluctant to enter any shortz until it does. Could be today imo.Slight opening weakness almost certainly technical profit-taking. Dip buyers anxious with FOMO...
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Played a few calls then caught a small short on the pullback. IDK bout this, can still try one more push to close the 4018 gap, I thought it would get there today.Note
50 pips to close the june gap hereNote
Expect a blowoff to close the gap but im holding nothin overnite; gltaNote
Exhaustion gap, pump n dump imoTrade active
Flipped 20 qqq puts in open, +1k fast. Now dicey no position, might get higher before lowerNote
Overnite futurz had spx around 3930 and we got that right away. Now is crapshoot. could bull again then sell, wait, watch. Small positions!Note
Flipped few calls then few more puts, choppy whipsaw typical of topping action. Does feel like a 4th wave in minor impulsive wave from Tues. I do expect higher Fri.Note
Lol needed calls again, imagine that!?! Holding onto gains really hate to give it back EOD... :-(Damned meltups!
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NB: Only index up today is NAZ. RUT, DJT, DJI all modestly lower. SPY lifts b/c it's 25% NAZ.Looks, feels like a fourth. No big shortz yet.
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NB: DJI closed gap now +3Note
Bully now 30 pips from gapfill at 4018
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