Jump to content



Photo

AI bubble bigger than DIT COM?


  • Please log in to reply
191 replies to this topic

#71 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,119 posts

Posted 10 July 2024 - 09:29 AM

Extremely extended markets.
Many are hoping for FED RATE CUT IN SEPTEMBER but bearish seasonality will most likely send markets down before that cut.
 

The ever ending bull market which is actually not and this is when I start to feel bad for the people that get in here hoping to make a little money in the market.  In my view the market is setting itself up for a big top this year that may not be seen for quite some time or at the least until we see a bigger correction in the end, it is not a healthy market move once again.  With +17% gains, market extremely overbought, even put/call ratios at the most extremes in decades, calls way overpriced and bond yields still high at 4.28% why wouldn't it just make sense to take some profits and get your final +5% in t-bills till the end of the year lol!!  Adding to shorts this morning only because we have been up so many days going into all the trade data and earnings that I think won't be as good as people think in the end.  Average ES short 5578, 20379 now, I'll smooth them out later on...

 

Biggest problem is its so obvious and all we really need is volatility to keep the rally going.  It's when it stops we are primed for a bigger fall and it comes down to the last man standing!!  That's where we are now sadly.  No matter what anyone says, the market never goes up forever and never goes down forever, that's why this site is called "Traders Talk" not Bulls talk lol!!  I've hedged some longs along the way also but at this point I'm getting nervous to do that!!  



#72 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 09:57 AM

Jesse Cohen (@JesseCohenInv) posted at 4:51 PM on Tue, Jul 09, 2024:
The S&P 500 $SPY notched the 36th record close of the year so far in 2024.

With that being said, the first 15 days of July, which have been the best two-week trading period for the S&P since 1928, are coming to an end.

Is a near term correction upon us? $SPX https://t.co/2jMvfxUKNZ

#73 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,119 posts

Posted 10 July 2024 - 10:11 AM

Wow just looked at the daily's, I cannot believe with the S&P only up +15 points that out of the money options that expire tomorrow are up almost 4 times they're regular value!!!  If that's not extreme bullish I'm not sure what is lol!! 



#74 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 10:30 AM

Close 1 es long 5652

Es long 5645

Nq long 20759.5

Close 1 nq long 20785.5



#75 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 10:33 AM

Close 1 nq long 20764.5

Close 1 es long 5652

Es long 5645

Nq long 20759.5

Close 1 nq long 20785.5



#76 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 10:36 AM

Not keen on holding too many LONGS at these levels. Will continue to scalp
Net FLAT ES, net short 1 nq
Will add 1 each SPY & QQQ PUT above market, near es 5654, nq 20790..


Close 1 nq long 20764.5

Close 1 es long 5652

Es long 5645

Nq long 20759.5

Close 1 nq long 20785.5



#77 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 10:37 AM

New position: SMCI 905 PUT

#78 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 12:02 PM

Es short 5666.25

Not keen on holding too many LONGS at these levels. Will continue to scalp
Net FLAT ES, net short 1 nq
Will add 1 each SPY & QQQ PUT above market, near es 5654, nq 20790..


Close 1 nq long 20764.5

Close 1 es long 5652

Es long 5645

Nq long 20759.5

Close 1 nq long 20785.5



#79 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 02:35 PM

Close nq long 20875
Net short 2 nq, 1 es

#80 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 18,680 posts

Posted 10 July 2024 - 02:44 PM

At 895 now will close if traded below 890

New position: SMCI 905 PUT