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This May Explain Why a Mini Crash Going on the First Trading Day of the New Year


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#1 redfoliage2

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Posted 04 January 2021 - 11:01 AM

Due to the mercurial political situation in Washington, you may find some info here:

 

https://www.traders-...93-georgiagate/

 

https://www.reuters....t-idUSKBN29901P


Edited by redfoliage2, 04 January 2021 - 11:05 AM.


#2 redfoliage2

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Posted 04 January 2021 - 11:48 AM

VIX shot up and now Mr. Market is anxious to find out what will happen in the Congress on Jan. 6th..............


Edited by redfoliage2, 04 January 2021 - 11:49 AM.


#3 tsharp

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Posted 04 January 2021 - 11:51 AM

Yep, I gave my subs a heads-up over the weekend:

 

This next week will be a very politically-charged week in the US, with seemingly a challenge coming from both houses over the legitimacy of the electors, AND I have a possible #Hurst nominal 20-week peak inflection date on or about 01.07.21, so we could see some volatility increasing with a strong move one way or the other... watching.



#4 12SPX

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Posted 04 January 2021 - 12:07 PM

One thing I can't resist though is to sell the Jan. 3500 put now up to $20!  Little overdone here so we'll see! 



#5 12SPX

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Posted 04 January 2021 - 12:08 PM

Whoops sorry that was for d's thread lol!! 



#6 gm_general

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Posted 04 January 2021 - 12:42 PM

The question is more why didn't the market start a normal retrace down 12/7 as it should have according to MACD negative crossovers that started then? In a have your cake and eat it too scenario big players would want to sell while it held up and before they would get the Biden cap gains pain. Now it can go down that they are out.



#7 redfoliage2

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Posted 04 January 2021 - 01:24 PM

I don't think that Mr. Market's concerns regarding this political issue will be resolved before the Congress certification of the electoral votes on Jan 6th and it's entirely possible that it may get worse by then.......................


Edited by redfoliage2, 04 January 2021 - 01:32 PM.


#8 redfoliage2

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Posted 04 January 2021 - 01:39 PM

BTW, Gold Contracts up 50 points today on the breakout from the inverted H&S pattern which should serve as an IT bottom ..............



#9 CLK

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Posted 04 January 2021 - 02:22 PM

This is none other than pre-planned institutional tax deferred selling. There is no other reason.



#10 redfoliage2

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Posted 04 January 2021 - 03:16 PM

Just one word for the current situation:  Mercurial