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Dangerously extended Market at or near ST top


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#11 OEXCHAOS

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Posted 19 April 2021 - 09:23 AM

Hit 'em on the short side this morning for 10. That's frankly a Bearish sign, though it's hard to kill a bull.


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#12 linrom1

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Posted 19 April 2021 - 09:32 AM

Everyone's charts pointing sky high, what could go wrong?



#13 12SPX

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Posted 19 April 2021 - 11:16 AM

Nice to sit back and watch the premium decay on all my sold May calls at 4200, 4250 and 4300 as I knew there would be some kind of a reversal so I topped up my short with a smooth average 4114 at the close Friday!  Not selling any put trades just yet!  I think it'll be hit sometime this week, tempted to hang on longer but we'll see!  Markets that blow off like this are ridiculous as everything is at an extreme and I'm not really shocked that margin levels hit brand new highs.  Like I've said we could easily wake up to a -5% down move overnight though when everything is this extended.  Volatility is healthy in a rising market, no volatility equals mini crashes! 



#14 dTraderB

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Posted 19 April 2021 - 12:07 PM

Haven't trDed such a strong bull market, ever! Will not go down without a few sharp rallies

Hit 'em on the short side this morning for 10. That's frankly a Bearish sign, though it's hard to kill a bull.



#15 dTraderB

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Posted 19 April 2021 - 12:09 PM

Agreed. Got to be nimble with this amazing bull!

Nice to sit back and watch the premium decay on all my sold May calls at 4200, 4250 and 4300 as I knew there would be some kind of a reversal so I topped up my short with a smooth average 4114 at the close Friday!  Not selling any put trades just yet!  I think it'll be hit sometime this week, tempted to hang on longer but we'll see!  Markets that blow off like this are ridiculous as everything is at an extreme and I'm not really shocked that margin levels hit brand new highs.  Like I've said we could easily wake up to a -5% down move overnight though when everything is this extended.  Volatility is healthy in a rising market, no volatility equals mini crashes! 



#16 pdx5

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Posted 19 April 2021 - 02:46 PM

A bull this potent will not die quickly. 4450 on SPX this year not out of question. That will be nice doubling from March 2020.


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#17 redfoliage2

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Posted 19 April 2021 - 04:09 PM

We are either right at a swing top or very close to a swing top .....................................



#18 dTraderB

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Posted 20 April 2021 - 10:35 AM

Closing a few, adding an extra lot on NQ daytrades

#19 12SPX

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Posted 20 April 2021 - 10:38 AM

And boom profit stop 4113 and will start selling right above it again, whew!!! 



#20 12SPX

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Posted 20 April 2021 - 10:50 AM

Starting a new short build at 4120, gonna spread this out as this retracement is likely not done yet!