50 replies to this topic

[dTraderB]

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

 

 

[dTraderB]

Here is another one ... these guys surely must be correct, LOL!

 

"Chris Kimble of the Kimble Charting Solutions blog says the “quick burst higher” could be an “ominous sign” of what lies ahead. After all, we’ve seen this kind of action before. In fact, the timing and the size of the market move should be eerily familiar to anybody who’s been around awhile.

Kimble used this 20-year chart of the S&P 500 to explain why:

https://www.marketwa...4?mod=home-page

[dTraderB]

Too much bearishness? 

 

NO, the bulls are getting extremely irrationally exuberant

 

Stock analyst’s discounted cash flow model calculation pegs S&P 500 fair value at 1,800

https://www.marketwa...=article_inline

[dTraderB]

Here is our pal, Mark Mobius, nice chap but I just do not totally buy his rationale. 

Why Mark Mobius says the stock market hasn’t seen an ‘absolute bottom’ yet

https://www.marketwa...4?mod=home-page

[dTraderB]

FED bailing out HEDGE FUNDS?? Not good....

 

‘It’s a complete abomination’ says Wall Street money manager about hedge funds applying for bailouts from small-business recovery funds
https://www.marketwa...4?mod=home-page

[.Blizzard]

 

Edited by .Blizzard, 14 April 2020 - 08:36 PM.

[dTraderB]

Doug rode that rally all the way from the low and now has started shorting.. did not folow during the day but he 

wrote of a small short. 

 

Douglas Kass

 

@DougKass

 

In a market dominated by machines and algos... everything swings too high and too low.

Edited by dTraderB, 14 April 2020 - 08:38 PM.

[.Blizzard]

Why SPX has not bottomed, expect a huge decline, possibly below SPX 1500assive hit

 

Whaaaaaat?

Edited by .Blizzard, 14 April 2020 - 08:42 PM.

[dTraderB]

Carl Quintanilla

@carlquintanilla

 

BAYCREST: “.. nearing the key 2850 resistance level we had been eyeing on the breakout above 2700. .. risk/reward looks very poor here on a tactical basis.” -

@jkrinskypga

[CLK]

Maybe your day trades will cover the losses in those SPY puts.