Worst case scenarios = Weak Week before POST ELECTION RALLY
#21
Posted 02 November 2020 - 08:27 AM
Weekly expected range for SPX is +/-160 handles, or 3430-3110 according to SPX options market, twice the size of last week. And this can easily be a 2 sigma week, that is 3590-2950.
#22
Posted 02 November 2020 - 08:28 AM
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
#23
Posted 02 November 2020 - 08:28 AM
Closing the week with an update of my favorite "Smart Money" indicator:
Corporate Insiders sold the Top perfectly, one of their biggest Sells ever.
More important: they haven't stopped selling there's room to push much lower if they want. This isn't 2016.
Stay tuned... HAGW! https://t.co/fvzyenkKLE
#24
Posted 02 November 2020 - 08:29 AM
#25
Posted 02 November 2020 - 08:42 AM
Your right about the options, out of the money calls are a little pricey as people are hoping for a big rally afterward I think. Even my old 3800 calls are still trading a $1 in anticipation!! Tempted to put a stop on my sold 2700 puts at $10 as there showing a nice profit now.
#26
Posted 02 November 2020 - 09:24 AM
All last week I posted 3220 was key support in #ES_F and it held Friday for a 100 point run. Its support of a major triangle & must hold for bull case
Plan today: Above 3330 triggers rally to 3385-3400. Bulls want consolidation above 3275 to set it up. Below 3275=back to 3225
#27
Posted 02 November 2020 - 09:27 AM
If market drops because of "threats of violence or actual unrest" then I will load up on CALLS
Your right about the options, out of the money calls are a little pricey as people are hoping for a big rally afterward I think. Even my old 3800 calls are still trading a $1 in anticipation!! Tempted to put a stop on my sold 2700 puts at $10 as there showing a nice profit now.
#28
Posted 02 November 2020 - 09:28 AM
No I think this crash is to trap some fools expecting a repeat of 2016
I think main course is still to come , we havent seen full movie yet
#29
Posted 02 November 2020 - 09:29 AM
#30
Posted 02 November 2020 - 09:55 AM
Second nq hedge short 11205
Will close those calls