WOW! Lots of bearish stuff at marketwatch.
I am long 11 crude (minis) -- only one lot is profitable now, this is an IT trade
Holding 22 SPY PUTS -- building it to at least 30 by the top, assuming there is still some gas left in the bull's tanks
Flat ES and NQ
This was my second best daily NQ daytrading. So amazing it was that on one 4-lot NQ trade I could not close it even partially as NQ on-minute chart just kept going and going.. I finally closed 2, kept 2 and then closed both at about 25 points higher. While pondering this spectacular NQ rally it pulled back and I opened a 2-lot trade and it repeated the previous trade... I decided to let it ride and it did for a 64 point profit. Buyers did not wait for any sizable pullback ... normally late-comers trying to get on the bull train.
I have no doubt the next leg down will be a painful and punishing one for those who are not noble enough to close LONGS and reverse. I am not as bearish as this guy but my opinions are almost the same:
Why the stock market is nowhere near a bottom and investors can expect a massive hit Strategist sees S&P 500 tumbling to as low as 1,275 before a bull market can resume
https://www.marketwa...3?mod=home-page