Member
Posted 20 October 2017 - 06:47 AM
Thats the sound of Stops being hit!
We are at an important terminal stage in this bull.
It will be hard to be long or short next two weeks.
Sentiment still not supporting reasons for a meaningful pullback .i.e 5% ...in fact cant remember last time we had a 5% pullback!
Trade safe!
Salam
Member
Posted 20 October 2017 - 07:38 AM
...in fact cant remember last time we had a 5% pullback!
This is why Elliott 3rd waves are described as being "undeniable" as to their directional trend.
Selling yourself short, too soon, can have unfavorable consequences under such conditions.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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Posted 20 October 2017 - 08:52 AM
in fact cant remember last time we had a 5% pullback!
According to Frank Barbera of The Gold Stock Technician as of Wed, Oct 18th the DJIA in 121 years has never gone this long before without a 5% correction. This is a record! The previous longest streak without a 5% correction ended on Dec 14, 1964.
This stock market is insane.
By my own analysis, this is the second longest time period the S&P 500 has traded above the Shiller PE ratio of 25. It's crazy! The only other time the US stock market traded longer over the Shiler PE ratio of 25 was the tech bubble of the 1990s.
Member
Posted 20 October 2017 - 08:59 AM
in fact cant remember last time we had a 5% pullback!
According to Frank Barbera of The Gold Stock Technician as of Wed, Oct 18th the DJIA in 121 years has never gone this long before without a 5% correction. This is a record! The previous longest streak without a 5% correction ended on Dec 14, 1964.
This stock market is insane.
By my own analysis, this is the second longest time period the S&P 500 has traded above the Shiller PE ratio of 25. It's crazy! The only other time the US stock market traded longer over the Shiler PE ratio of 25 was the tech bubble of the 1990s.
Every day is also a new record seeing a -3% correction and I can't remember the last time we even saw a full -2% correction lol! Great for the bulls as long as you weren't the last one in lol!!
Member
Posted 20 October 2017 - 01:06 PM
I pulled the trigger and used yesterday's early morning sell-off to exit the $SPX calls I was short, the $VIX calls I was long and the last minute purchase of $SPX puts from Wednesday afternoon (that trade made 25% overnight, wish I bet the farm on those!). I hold no more short positions (meaning we'll probably crash on Monday!) and only longs I hold are synthetic, as in cash-covered puts I'm short.
