124 replies to this topic

[dTraderB]

Lance Roberts

 

@LanceRoberts

·

2h

 

There is certainly more downside risk from Friday's close. About 2% to the September lows, and 5% to the 200-dma. However, as noted, #market is oversold so a bounce is likely. Plenty of catalysts heading into next week, so some #risk aversion is advised. https://realinvestmentadvice.com/market-drops-as-traders-head-for-the-pre-election-exit-10-31-20/

[dTraderB]

Do not want to get into politics but will just tell you this:
I will load up on longs to take advantage of any so-called fear of, and actual,  "contested elections" market decline.

been there, done that, in many similar situations:  suckers panic while real traders reap the profits. 

 

Lance Roberts

 

@LanceRoberts

·

2h

 

As discussed recently with

@rr0710

and

@ratliff_danny

in "Policies over politics," markets continue to follow their historical election year trends. #Risk is a contested election, which is certainly possible. https://realinvestmentadvice.com/market-drops-as-traders-head-for-the-pre-election-exit-10-31-20/

[dTraderB]

then there is the FED with trillions ready to come into market

 

and trillions of stimulus post-election, could be in December or January but it will surely happen

 

just buy the dam dip!

 

Lance Roberts

 

@LanceRoberts

·

2h

 

#Economic growth will contract if #federal #expenditures fall back to previous levels of roughly $4 Trillion per quarter. In Q4, expenditures will need a run rate of over $7 Trillion to grow the economy at 2%. #Fed needs a #stimulus program to monetize. https://realinvestmentadvice.com/market-drops-as-traders-head-for-the-pre-election-exit-10-31-20/

[dTraderB]

 

will be a great market to trade during the next week or two

 

 

Lance Roberts

 

@LanceRoberts

·

 

2h

 

Previous #overbought conditions have been reversed with the #market now 2-standard deviations below the 50-dma. Too late to sell now, look for a reflexive #rally to reduce risk into if needed. https://realinvestmentadvice.com/market-drops-as-traders-head-for-the-pre-election-exit-10-31-20/

Edited by dTraderB, 31 October 2020 - 12:06 PM.

[dTraderB]

YEAH, ATH SOON, MASSIVE RALLY - great opportunities for BIG LONG & THEN EVEN BIGGER SHORT TRADES next 4 to 6 months

LAKSHMI HARMONIC TRADER;
My Thots

Poss continued sell off but not as sgnfcnt as Mar; relatively controlled past 3wks & due to Election/Covid

What then?🤔

Election uncertainty diminishes best case + Covid never went away in truth coupled w massive Stimulus-->Indices reverse & rise to ATH 3-6m?

AIMHO😀

Lakshmi 🥰 Harmonic Trader (@HarmonicCharts)
https://twitter.com/...onicCharts?s=03

[dTraderB]

xtrends:

Just another chart implying this is just a correction, unlike Feb-Mar period https://t.co/YFMCYAUrmV

[dTraderB]

ADAM:

Have a great weekend! $SPX is ~10% off the highs just like in June & September before it rallied. Election determines if history repeats

Plan Next Week: Pattern is a 2 month triangle. Above 3320 = long to 3400 & 3520. For bears: It fails at 3220 opening 3180, last lvl until 3090 https://t.co/OCwwQqFTtm

[dTraderB]

ADAM:


Eerie similarity in $SPX to 2016 election where it peaked in September, sold off until election, then started a rally. Repeat is a possibility this year

As usual, price needs to be the guide & sidelines are safest as results come in. Bulls must reclaim 3400-20 to secure upside

[dTraderB]

Bull wants to run....
Calling it a night, 3 good nq trades tonight

[12SPX]

Think my brain was ahead of my trade.  Was listing my 3230 long as 3430 lol, but I'm sure everyone knew what I was talking about lol!!  Great month to hopefully the fifth month of profits with my profit stop at 3280!  This is a nice set up to go into election day.  According to my book In 2016 it was a slow start to a rally when Trump won and only one big rally before hand but it was because Clinton was looking innocent.  The market at the time was anticipating a Clinton win I think.  It will be interesting to see what happens this year, gonna be an exciting day gotta say!!